Entertainment Metaverse Market Size Expected to Grow by $28.92 Billion, Driven by Rising Consumer Spending on Virtual Concerts, Events and Others

NEW YORK, July 29, 2022 /PRNewswire/ — The “Metaverse in Entertainment Market by End User (Movie Production, Music Labels, OTT Platforms, TV Broadcasters and Others) and Geography (North America, EuropeACPA, South Americaand the Middle East and Africa) – Forecasts and Analysis 2022-2026report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with over 100 Fortune 500 companies for over 16 years. The Entertainment Market Share Metaverse should increase to $28.92 billion from 2021 to 2026 at an accelerated pace 8.55% CAGR. Technavio categorizes the metaverse in the entertainment market as part of the global technology hardware, storage and peripherals market. Our research report has extensively covered the external factors influencing the growth potential of the parent market in the coming years, which will determine the growth levels of the entertainment in the metaverse market during the forecast period.

Technavio has announced its latest market research report titled Metaverse in Entertainment Market by End-user and Geography – Forecast and Analysis 2022-2026

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Metaverse in Entertainment Market – Key Market Dynamics:

Major driver

  • The key factor driving the global metaverse of entertainment market growth is rising consumer spending on virtual concerts, events and others. The media and entertainment sector in India achieved $19 billion in 2020, according to the India Brand Equity Foundation Organization (IBEF), and is expected to reach $25.9 billion by 2023. The significant increase in demand for virtual events along with the increase in the number of people attending concerts and events will further propel the industry forward.

Major challenges

  • The main challenges of the global metaverse in the growth of the entertainment market are the privacy and security issues related to the metaverse. The metaverse collects and processes large amounts of information about users and their environment. Metaverse can access users’ personal data and may pose a threat to their privacy. User privacy may also be at risk if hackers gain access to the user’s device. There are also privacy issues associated with the smart gears used in the metaverse, such as smart glasses, VR headsets, etc., as these glasses automatically filter and process the user’s environment, violating user privacy. user and those around them, which may challenge the growth of the market over the forecast period.

To learn more about additional key drivers, trends and challenges-. Request a sample report now!

Metaverse in Entertainment Market – Segmentation Analysis:

The Metaverse Entertainment Market report is segmented by End User (Film Production, Music Labels, OTT Platforms, TV Broadcasters and Others) and Geography (North America, EuropeACPA, South Americaand the Middle East and Africa).

  • Regional Highlights –33% of market growth will come from North America during the forecast period. The United States and Canada are the main markets of the entertainment meta-universe in North America. The growth of the market in this region will be faster than the growth of the market in South America and AME. The rapid convergence of the entertainment industry and the traction of gaming culture, along with the integration of gaming services into the service offerings of major entertainment brands and increased investment to create gaming experiences and more immersive entertainment, will facilitate the metaverse in the growth of the entertainment market in North America over the forecast period.

  • Revenue Generating Segment – The metaverse of entertainment market share growth by the film production industry will be important for revenue generation. Physical barriers to movie production will be removed and access will be unrestricted in the metaverse. Pooja Entertainment, an Indian production company, said it has purchased virtual land in the metaverse for its future productions, named Poojaverse. The trailer for a recently released movie Radhe Shyam was uploaded to the metaverse and received positive feedback. These factors will drive the market growth in this segment.

Take a sample report for additional information on the contribution of all segments and regional opportunities

Metaverse in Entertainment Market – Vendor Analysis:

The entertainment market metaverse is concentrate and vendors are deploying growth strategies such as technological innovation to compete in the market.

  • To access more supplier profiles with their key offerings available with Technavio, Click here

The competitive scenario predicted in the Metaverse in Entertainment Market Report analyzes, evaluates and positions companies according to various performance indicators. Some of the factors taken into consideration for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc. Don’t wait, make a strategic approach and boost your business goals with our Metaverse In Entertainment Market Forecast Report – Buy now!

Related reports:

  • The metaverse market is expected to grow USD 677.98 billion from 2021 to 2026, and market growth momentum will decelerate at a CAGR of 33.26.

  • The metaverse on the FMCG market share is expected to increase to USD 2.11 billion from 2021 to 2026 at an accelerating CAGR of 21.8%

Metaverse in the reach of the entertainment market

Report cover

Details

Page number

120

Year of reference

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 get custom segments.

Main topics covered:

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 report library consists of over 17,000 reports, 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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Technavio (PRNewsfoto/Technavio)

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