Forecast: Metaverse advertising industry value will reach $7.5 billion by 2030

Although the gaming and e-commerce industries have seen the greatest adoption of metaverse technology in recent years, its use in other markets such as digital marketing will explode in the future.

According to data from OnlyAccounts.io, the global metaverse advertising industry is expected to grow by 315 percent and reach a value of $7.5 billion (€6.99 billion) by 2030.

Six years of double-digit market growth

The metaverse advertising industry is currently in its early stages, but has already shown promising signs of growth. In the last two years, many major brands have entered the metaverse and started selling virtual accessories that allow users to develop their avatars. For example, Nike has successfully launched branded sportswear and shoes. roblox, and Adidas found success with its branded virtual gear on the Open Sea NFT marketplace.

However, the entry of these big names also marked a turning point for the metaverse advertising industry, which is set to explode in the following years. This growth is driven by several factors, including the increasing popularity of virtual reality and growing consumer demand for immersive and interactive advertising experiences. On the other hand, metaverse allows brands to showcase their services and products in ways not possible with traditional ads, while also providing valuable insights into consumer behavior that can help them improve their marketing strategies.

As more brands and consumers use metaverse advertising, the entire market is expected to reach a value of $1.8 billion in 2024, up from $1.6 billion last year. But that’s nothing compared to the growth expected in the following years. According to a survey by Statista Market Insights, the global metaverse advertising industry is expected to grow by 72 percent, reaching a value of $3.1 billion by 2026. By the end of 2028, that number will rise to $5.7 billion and keep rising. Statista expects the double-digit growth to continue until the end of a decade, resulting in a market size of $7.5 billion by 2030.

All major metaverse advertising markets will see triple-digit growth by 2030

Globally, the US and China represent the largest markets for metaverse advertising, generating 45 percent of the total industry value. However, according to Statista, all five largest metaverse advertising markets will see impressive triple-digit growth by the end of the decade.

The US market is forecast to grow by 317 percent, reaching a value of $2.5 billion by 2030. Statistics show that the Chinese market will grow by 316 percent, reaching a value of $917 million during this period. Japan, Germany and the UK, while falling well short of these figures, will also see impressive growth of 315 percent by 2030, reaching market sizes of $373 million, $318 million and $283 million respectively.