Global metaverse market expected toreach $996 billion in 2030
The global metaverse market is expected to reach $996 billion in 2030, registering a compound annual growth rate (CAGR) of 39.8 per cent. The metaverse market size reached a value of $22.79 billion in 2021, according to GlobalData, a leading data and analytics company.
Companies across the globe, including those in non-tech sectors, are now increasingly investing in technology for better engagement with customers, brand awareness expansion, and identification of new revenue streams. "As of 2021, the media and entertainment market captured a sizable revenue share of the metaverse market. The entertainment experience we have seen through the metaverse has been through music and concerts," said Deepak Agarwal, Project Manager at GlobalData.
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