The global Metaverse in Gaming Market is anticipated to expand from USD 22.7 billion in 2023 to USD 119.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 39.3% over the forecast period. Key drivers of this growth include increasing demand for 3D hardware devices in related sectors such as augmented reality (AR), extended reality (XR), virtual reality (VR), and mixed reality (MR). Additionally, the rise of gamification, virtual reality gaming, and AR-based mobile games is expected to create significant opportunities for metaverse gaming providers.
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By component, hardware segment to record highest CAGR during the forecast period
The use of HUD in the entertainment sector is expected to fuel the growth of the AR devices segment of the market. The ability of AR devices to combine the real world with virtual objects has increased their demand in various applications. Mobile-based HMDs have a high resolution and a 360° viewing angle. The use of mobile phones for 3D navigation with a real-time overlay of computer graphics has numerous applications in the gaming sector and live entertainment; this is expected to drive the growth of the AR devices segment of the market. The use of AR in mobile applications for Android- and iOS-based devices has significantly contributed to the growth of this segment. Presently, AR smart glasses are the most demanded among AR devices in industrial applications, thereby contributing to the growth of the AR devices segment.
By hardware, the VR devices segment to exhibit significant growth during the forecast period
VR technology provides users with a virtual environment using computer hardware and software. It provides a fully immersive environment wherein users can interact with objects like those in the real world. This technology uses gesture-recognition systems, sensors, and embedded electronic components. Processors help execute input and give users an output to perceive that virtual objects are a part of the environment. VR technology is used in military, consumer, training, education, and retail applications. VR is a fascinating way to traverse using nothing more than the power of technology, with a headset and motion-tracking technology. Prominent VR devices are Meta Quest, Valve Index, HTC Vive, HP Reverb, and Sony PlayStation, among others. VR headsets quintessentially include a stereoscopic display (providing separate images for each eye), stereo sound, and sensors like accelerometers and gyroscopes for tracking the position of the user’s head to match the orientation of the virtual camera with the user’s eye positions in the real world. Few VR headsets also have eye-tracking sensors and gaming controllers. The VR glasses use a technology called head-tracking, which changes the field of vision or Field of View (FoV) as a person turns his/her head.
By region, North America to showcase immense growth during the forecast period
North America has an advanced communication, blockchain and extended reality technology infrastructure that helps Metaverse in gaming solution providers offer quality services to players. The US invests heavily in R&D activities. It is also one of the early adopters of metaverse in gaming. The region is home to companies such as Google, Meta, Microsoft, Qualcomm, Unity, and Nexon which aids in driving the growth of the market in the country. The use of AR, VR, MR technologies in gaming hardware, gaming engines for gaming platforms design is expected to fuel the US market growth. More than half of 9- to- 12-year-olds in the United States play on Roblox at least regularly, and ten of the top 14 gaming platforms utilized by American children feature a social play component. Metaverse demands large bandwidth of internet for seamless functioning. North America is a decent playground with increasing internet speeds associated with new generation of air waves, and hence the adoption of gaming metaverse is subject to only increase going forward. Higher Internet speed ensures reduced latency and higher bandwidth to handle better resolutions.
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Unique Features in the Metaverse in Gaming Market
The metaverse in gaming enables highly immersive, realistic 3D environments where players can explore expansive virtual worlds. These environments are designed to mimic real-world physics and visuals, creating a sense of presence that allows players to interact more naturally with the digital landscape, other players, and in-game objects.
A defining feature of the metaverse is interoperability, allowing assets, avatars, and items to be used across different games and platforms. This cross-platform compatibility offers gamers a more unified experience and creates new possibilities for collaboration between game developers, enriching the gaming ecosystem.
The metaverse in gaming leverages blockchain technology and non-fungible tokens (NFTs) to enable true ownership of digital assets. Players can own, trade, and sell in-game items as NFTs, which can hold real-world value.
The integration of AR and VR technologies enables gamers to engage in immersive, lifelike experiences, bridging the gap between virtual and real worlds. With VR headsets and AR-enabled mobile devices, players can interact with games in a fully immersive or augmented setting, enhancing the realism and interactivity of gameplay.
The metaverse is fundamentally social, offering tools for real-time communication, events, and community building within the gaming world. Players can interact with friends and other players, attend virtual events, and build communities, making the metaverse a social hub beyond just gaming.
Major Highlights of the Metaverse in Gaming Market
The metaverse in gaming market is experiencing rapid expansion, with substantial projected growth over the coming years. This growth is driven by increasing interest in immersive gaming experiences, technological advancements, and the growing adoption of augmented reality (AR) and virtual reality (VR) devices, which make metaverse gaming more accessible to a broader audience.
Blockchain integration and the use of non-fungible tokens (NFTs) are transforming the gaming experience within the metaverse. Players can now own, trade, and sell unique digital assets, introducing a new level of engagement and real-world value to virtual items.
One of the standout features of the metaverse in gaming is interoperability across various platforms and devices. Players can use the same avatars, digital assets, and items across multiple games and virtual worlds, providing a seamless and continuous experience.
The metaverse is not only a gaming platform but also a social space, where players can connect, socialize, and build communities. With features like voice and video chats, live events, and virtual gatherings, the metaverse transforms gaming into a social activity, allowing players to interact with friends and fellow players from around the world, and attend concerts, sports events, and other shared experiences.
The convergence of AR, VR, and artificial intelligence (AI) technologies is central to the development of the metaverse. AR and VR enhance immersion, while AI-powered NPCs and personalization features create dynamic, responsive virtual worlds.
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Top Companies in the Metaverse in Gaming Market
The major companies in the Metaverse in Gaming Market are Meta (US), Microsoft (US), NetEase (China), Electronic Arts (US), Take-Two (US), Tencent (China), Nexon (Japan), Epic games (US), Unity (US), Valve (US), Accenture (Ireland), Adobe (US), HPE (US), Deloitte (UK), Ansys (US), Autodesk (US), Intel (US), Tech Mahindra (India), ByteDance (China), Nvidia (US), Activision Blizzard (US), Samsung (South Korea), Google (US), Sony (Japan), HTC (Taiwan), Seiko Epson (Japan), Apple (US), Qualcomm (US), Panasonic (Japan), Eon Reality (US), Roblox (US), Lenovo (Hong Kong), Razer (US), Nextech AR Solutions (Canada), ZQGame (China), Talecraft (Marshall islands), VR Chat (US), Decentraland (Argentina), Somnium Space (UK), and Sandbox VR (US).
The study includes an in-depth competitive analysis of key players in the Metaverse in Gaming Market market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. Product enhancements and partnerships have been the most dominating strategies adopted by the major players from 2020 to 2022, which helped them strengthen their offerings and broaden their customer base.
Meta (US):
Meta (US) is one of the prominent players in the Metaverse in Gaming Market that provides comprehensive digital experience platform featured with robust metaverse capabilities. In the Metaverse in Gaming Market space, it provides its offerings via the Spark AR platform. Meta’s metaverse solution provides its clients the studio tool from Meta that allows users to create their AR effects for mobile. Meta continues to add capabilities to the platform. It added data analytics for Instagram and Facebook campaigns. Moreover, it emphasizes on product enhancements to gain market share. For instance, in December 2021, Meta has announced that it is opening access to its VR social platform Horizon Worlds. People in the US and Canada who are 18 and up can access the free Quest app without an invite. Horizon Worlds is Meta’s first attempt at releasing something that resembles CEO Mark Zuckerberg’s vision of the metaverse. It is an expansive, multiplayer platform that meshes Roblox and the OASIS VR world from Ready Player One. Originally just called Horizon, it requires a Facebook account, lets you connect with up to 20 people at a time in a virtual space.
Microsoft:
Microsoft is a multinational technology corporation that manufactures computer software, consumer electronics, personal computers,related services. The Xbox video game consoles and the Microsoft Surface line-up of touchscreen personal computers are its flagship hardware products. In addition the company offers mixed reality products (HoloLens), cloud computing (Azure), and software development. The company also produces a wide range of other consumer and enterprise software for desktops, laptops, tabs, gadgets, and servers (Visual Studio). Microsoft serves various industries, such as, Automotive, Government, Healthcare, Manufacturing, Financial Services, and Retail. Microsoft has made significant investments and developments in the Metaverse in Gaming Market through product launch of Microsoft Mesh and few acquisitions. For instance, in January 2022, Microsoft acquired Activision Blizzard (US), another well-known company in the Metaverse in Gaming Market that specializes in producing games including Call of Duty, Overwatch, Candy Crush, and so on. Activision Blizzard integrates Activision, Blizzard Entertainment, Major League Gaming, Activision Blizzard Studios, King, as well as independent studios in sthe Metaverse in Gaming Market solutions.
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