Entertainment Market Metaverse Size Expected to Grow by $28.92 Billion and Increase in Consumer Spending to Drive Growth

NEW YORK, November 11, 2022 /PRNewswire/ — The global entertainment market metaverse the size should increase by $28.92 billion from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 8.55%. The market is segmented by end-user (film production, music labels, OTT platforms, TV broadcasters, etc.) and geography (North America, EuropeACPA, South Americaand Middle East and Africa). Get a comprehensive summary of the report outlining the market size and forecast, along with the research methodology. The Sample FREE Report is available in PDF format

Technavio has announced its latest market research report titled Global Metaverse in Entertainment Market 2022-2026

Global Entertainment Metaverse Market: Driver, Trend and Challenge

The increased consumer spending on virtual concerts, events and more is driving the growth of the market. Rising demand for virtual events, along with growth in the number of people attending concerts and events, will further propel the industry. Immersive technologies such as augmented reality and virtual reality are evolving at a rapid pace. These factors will contribute to the growth of the market over the forecast period.

The growing adoption of online games by consumers is a market trend. Metaverse provides an immersive visual experience and supports emerging technologies such as IoT, blockchain, and 3D visualization. Growing use of advanced gaming technologies, rising income levels, and changing consumer entertainment choices will further support the market growth over the forecast period.

Privacy and security issues challenge market growth. The metaverse collects and processes large volumes of information about users and their environment. It can access users’ personal data which can pose a threat to their privacy. Additionally, there are privacy issues associated with smart devices, such as VR headsets and smart glasses, because they automatically filter and process the user’s environment. These factors may hinder the growth of the market during the forecast period.

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Global Entertainment Metaverse Market: End User

Per end user, the movie production will be a significant contributor to the growth of the market over the forecast period. Metaverse is expected to revolutionize the film industry. This will change the way movies are shot by creating virtual and 3D settings. VR technology will be used to interact in this environment. As a result, the metaverse is becoming popular in film production and will contribute to the growth of the market over the forecast period.

Global Entertainment Market Metaverse: Geographic Landscape

North America will account for 33% of market growth over the forecast period. This growth is attributed to factors such as the rapid convergence of the entertainment industry and the traction of gaming culture, the integration of gaming services into the service offerings of major entertainment brands, and increased investment to create more immersive gaming and entertainment experiences. Moreover, the growth of the market in this region will be faster than the growth of the market in South America and AME. The United States and Canada are the key countries in the metaverse in the entertainment market in North America.

Global Entertainment Metaverse Market: Companies Covered

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Global Entertainment Metaverse Market: What Our Reports Offer

  • Market share assessments for regional and country segments

  • Strategic recommendations for new entrants

  • Covers market data from 2021 to 2026

  • Market Trends (Investment Opportunities, Drivers, Opportunities, Threats, Challenges & Recommendations)

  • Strategic recommendations in key business segments based on market estimates

  • Competitive landscaping mapping key common trends

  • Company profiling with detailed strategies, financials and recent developments

  • Supply chain trends mapping the latest technological advancements

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Metaverse in Entertainment Market 2022-2026: Key Highlights

  • Market CAGR over the forecast period 2022-2026

  • Detailed information on the factors that will contribute to the metaverse in the entertainment market growth over the next five years

  • Estimation of the metaverse in the entertainment market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the metaverse in the entertainment market

  • Market Competitive Landscape Analysis and Detailed Vendor Information

  • Complete details of the factors that will challenge the growth of Metaverse among the vendors in the entertainment market

Related Reports

Metaverse market in finance by component and geography – Forecasts and analysis 2023-2027: Innovative features and user interfaces are particularly driving the metaverse market in finance growth. Banks are considering strategies to expand their presence in the metaverse and provide better services to consumers. For example, using VR glasses, customers will be able to manage all their banking and financial activities from anywhere.

Metaverse real estate market by End User and Geography – Forecast and Analysis 2022-2026: The growing popularity of mixed reality and cryptocurrency is driving the growth of the market. The evolution of virtual reality towards a more mixed reality creates readability in virtual spaces by decoding tags and annotations. People accessing metaverse platforms can buy real estate land and sell or rent it to others.

Metaverse in the reach of the entertainment market

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 8.55%

Market Growth 2022-2026

$28.92 billion

Market structure

Concentrate

Annual growth (%)

7.41

Regional analysis

North America, Europe, APAC, South America, Middle East and Africa

Successful market contribution

North America at 33%

Main consumer countries

United States, Canada, China, United Kingdom and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Aomen City, Epic Games Inc., Hungama Digital Media Entertainment Pvt. Ltd., Meta Platforms Inc., Niantic Inc., OverActive Media Corp., Qualcomm Inc., Queppelin, Roblox Corp, Tencent Holdings Ltd. and Tetavi Ltd.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast growing and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by End User

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Global Metaverse in Entertainment Market 2022-2026

Global Metaverse in Entertainment Market 2022-2026

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