The latest research report by Emergen Research, named ‘Global Metaverse Market - Forecast to 2028’, entails a comprehensive review of the global Metaverse market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period. The study also includes significant information pertinent to the Metaverse industry, particularly the current COVID-19 scenario. Exhaustive coverage of the COVID-19 impact on the Metaverse industry is a major attraction of the report. The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism.
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The global metaverse market size reached USD 47.69 Billion in 2020 and is expected to register a revenue CAGR of 43.3% during the forecast period, according to latest analysis by Emergen Research. Korea Advanced Institute of Science and Technology (KAIST) intends to develop a virtual campus in Kenya, which will start in September 2023 in Konza Technopolis in nearby Nairobi. The university desires to develop a metaverse that will run classrooms and provide an immersive learning opportunity on campus through the use of augmented reality, virtual reality, and eye tracking technology. Soonchunhyang University in Korea arranged a virtual welcoming event for freshers to participate as avatars.
However, issues about identity and reputation in metaverse are expected to hamper market revenue growth during the forecast period. When it comes to the real world, the issue of personal identity and representation is quite easy. However, when it comes to virtual worlds, verification of users is quite difficult as another individual or even a bot can attempt to replicate actual identity.
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Major companies in the market report include Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Roblox Corporation, Unity Technologies, Inc., Lilith Games, and Nextech AR Solutions Corp.
Unfolding the prime factors prompting global market growth:
- The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Metaverse market into a broad product spectrum.
- The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.
- A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights.
Global Metaverse Market Geographical Landscape - Synopsis:
- The report closely studies the growth trajectory of the global Metaverse market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
- The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
- Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
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