The Global Metaverse Technologies Market is expecting around 38.2% CAGR during 2022-27, states MarkNtel Advisors in their recent research report. The growing application areas of computer vision, edge computing, & Extended Reality (XR), among other technologies, coupled with the mounting focus of the leading tech companies on bridging the gaps between virtual & physical worlds, are the prime aspects driving the global market.
Moreover, the emergence of digital twins across universities, i.e., attracting substantial capital expenditures on metaverse platforms, is also augmenting the growth of the global market. In addition, more and more retailers are incorporating virtual trial rooms on their online portals to attract a massive consumer base, i.e., another of the many aspects projected to boost the global metaverse technologies market in the coming years, further states the research report, “Global Metaverse Technologies Market Analysis, 2022.”
The Immense Potential of Virtual Games in the Global Metaverse technologies Market
To date, metaverse platforms are used majorly & extensively for gaming applications equipped with AR, VR, & MR technologies, among others. Such games, which hold the maximum share in the Global Metaverse Technologies Market, deliver 3D & 360-degree user experiences.
The leading techies worldwide are actively working on developing innovative platforms for virtual gaming, which projects lucrative growth for the global market through 2027. Moreover, the surging penetration of ‘play to earn’ games is another prominent factor attributed to the largest market share of gaming applications globally. It owes to the massive spending by players on such games to win prize money, which they can redeem for real-life values.
With Massive Funding on Metaverse Platforms in the US & Canada, Americas Dominate the Market
The Americas are home to leading companies operating in the gaming & metaverse sectors, owing to which they are very likely to continue dominating the Metaverse Technologies Market globally during 2022-27. These players are putting active efforts toward delivering more immersive gaming & entertainment experiences to users by massively investing in developing metaverse platforms.
Moreover, there are increasing collaborations among the various companies in the media & entertainment industry and the IT sector across the Americas, wherein marketing campaigns for motion pictures are leveraging interactive media platforms, and the gaming services are being integrated into the entertainment sector.
Besides, the growing consumer interest in more sophisticated technologies and various efforts put by startups on commercializing metaverse platforms, more broadly, are other factors that project profitable opportunities for the Metaverse Technologies Market in the Americas over the forecast years, reveals MarkNtel Advisors in their research report, "Global Metaverse Technologies Market Analysis, 2022."
The leading players in the Global Metaverse Technologies Market include Active Theory, ByteDance Ltd., Epic Games, Inc., Globant, Meta Platforms, Inc., Microsoft Corporation, NetEase, Inc., NexTech AR Solutions Corp., Nvidia Corporation, Queppelin, Roblox Corporation, The Sandbox, Tencent Holdings Ltd, & Unity Technologies, Inc.
Key Questions Answered in the Research Report