Global Metaverse Market Forecasted to Skyrocket from $83.9 Billion in 2023 to $1.30 Trillion by 2030.

• VR devices like Meta Quest 2 and Oculus Rift S are expected to dominate the metaverse hardware market through 2030, offering realistic virtual experiences.
• Consumer applications like gaming, social media, and virtual events will drive metaverse growth, accounting for the largest market share through 2030.
• Asia-Pacific presents major metaverse investment opportunities over the next 7 years due to rapid technological developments in the region.

The metaverse and virtual reality are seeing unprecedented growth, with the market expected to surge from $839 billion in 2023 to $13 trillion by 2030. VR devices in particular are poised to dominate the hardware market.

VR Devices Take Center Stage

VR devices like Meta Quest 2, HTC Vive, and Oculus Rift S offer realistic images and sounds for both consumer and enterprise applications. They are expected to account for the largest metaverse hardware market share through 2030.

VR for Gaming and Entertainment

The video game industry has played a pivotal role in shaping the metaverse, with online games offering immersive virtual worlds. VR enhances gaming and sports broadcasts with remarkable visual effects.

Consumers Drive Metaverse Adoption

Consumer applications like gaming, social media, live events, and virtual travel will drive metaverse growth. This vertical will account for the largest market share through 2030.

Asia-Pacific Presents Big Opportunities

Asia-Pacific is expected to emerge as the best region for metaverse investments over the next seven years due to rapid technological developments.

Overcoming Challenges for Mass Adoption

While the metaverse shows great promise, challenges remain around regulations, hardware costs, health effects, and local restrictions. Continued 5G rollout and hardware improvements will help enable mass adoption.