Metaverse Market Size to Expand at Over 45.2% CAGR through 2030
Market overview It is expected that the Metaverse Market will experience 105,597.5 million by 2030 and will register a CAGR of 45.2% from 2024 to 2030. This is a simulated digital environment with augmented reality and virtual reality, mixed reality, blockchain and others for a better user experience. The increasing gaming need in people increased during the pandemic due to lockdown and pause in movement orders. The rising investment in e-commerce and retail will propel market growth in future. Lack of awareness, security concerns and increasing cyber-attacks are the restraining factors and will hinder the market growth. Market segmentation The Metaverse market has been segmented into component, platform, technology, application, and end-user. Based on the component, the market is divided into hardware and software. The software market will dominate the market in the forecast period due to leading market players' development of advanced software and platforms. The servic