Metaverse market expected to skyrocket 575% to reach over half a trillion dollars by 2030

The global metaverse landscape has grown tremendously in recent years, driven by the increasing use of technology in gaming and e-commerce. But as other markets such as advertising, health and fitness, education and live entertainment also embrace the metaverse, the entire industry is set to grow more than six-fold in the next few years.

According to data from AltIndex.comThe global metaverse market is expected to grow by a whopping 575% and reach a value of over half a trillion dollars by 2030.

Market size expected to grow by an average of $100 billion annually

The increasing adoption of Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) technologies, the rising demand for immersive user experiences across industries and significant investments by major companies such as Meta and Microsoft in developing metaverse infrastructure have created the perfect ground for the growth of the metaverse market.

Since 2022, the entire industry has grown by 63%, reaching a value of $75 billion. And while this is quite an impressive increase in just two years, market forecasts for the following years show much larger growth rates. According to Statista Market Insights’ survey, the size of the global metaverse market is expected to grow by an average of $100 billion per year, reaching more than half a trillion dollars by 2030. This means that the metaverse market will grow by 575% over the next six years.

Statistics show that e-commerce and gaming in the metaverse will account for almost 75% of this value. The e-commerce segment in the metaverse is expected to grow by 587% and reach a value of $210 billion by 2030, up from $30.6 billion this year. The gaming segment in the metaverse will see an impressive growth of 70% during this period, increasing its value from $20.9 billion to $168 billion.

According to statistics, the metaverse health and fitness market will grow by 560% in the next six years and reach a value of $56.1 billion. This is followed by metaverse jobs, with a growth of 465% in six years and a market size of $27.7 billion by 2030. The Statista survey also showed that metaverse education will grow the most out of all the market segments, growing by a whopping 887% and reaching a value of nearly $25 billion by 2030.

Metaverse to reach 2.6 billion people by 2030, four times more than previous forecast

As tech giants like Meta and Microsoft continue to pour money into metaverse projects, it is obvious that metaverse is on track to become a big and lucrative business that will reach more users than ever before in the next few years.

According to Statista’s forecast, the total number of users in the metaverse landscape is expected to reach nearly 2.6 billion by the end of the decade, four times more than the previous forecast and three times more than this year. The total addressable market, or revenue opportunity, for metaverse products and services is expected to reach $1.9 trillion during this period in the conservative scenario where 15% of the digital economy moves to the metaverse. In the optimistic scenario where 35% of the digital economy moves to the metaverse, this value rises to $4.4 trillion.

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