[ad_1]
New York, February 13, 2023 /PRNewswire/ – According to Technavio, The Global Metaverse in the Entertainment Marketplace Estimated growth in size $33,323.31 million From 2022 to 2027.The market is expected to grow at a CAGR 9.07% during the forecast period. In addition, growth momentum will accelerate. North America Will account for 33% of the market growth. The report also includes historical market data from 2017 to 2021. In 2017, the Metaverse of the entertainment market was valued at $45,299.73 million. The report offers a comprehensive analysis of growth opportunities at a regional level, new product launches, latest trends, and post-pandemic recovery in the global market. For more market information, Request a sample report.
The Metaverse of the Entertainment Market——Five Forces
The global metaverse of the entertainment market is Fragmentedthe five forces analysis covers——
bargaining power of buyers
Threat of new entrants
competitive threat
Bargaining Power of Suppliers
threat of substitutes
Explanation of Porter’s Five Forces Model – Buy the report!
Metaverse in the Entertainment Market——Customer Structure
The report includes the adoption lifecycle of the market, from the innovator stage to the laggard stage. It focuses on the adoption rate in different regions based on the penetration rate. Additionally, the report includes drivers of key procurement criteria and price sensitivity to help companies evaluate and formulate their growth strategies.
Metaverse in the Entertainment Market – Segmentation Evaluation
Market Segment Overview
Technavio segments the market by end user (film production, record labels, OTT platforms, TV broadcasters, etc.) and component (hardware, software, and services).
this Film Production This segment will account for a significant portion of the market growth during the forecast period. The Metaverse promises to revolutionize the film industry. It will also change the movie watching experience as VR technology will be used to interact in this environment. Scenes shot in the real world will be projected into the virtual world using avatars, which will reduce the need for on-set locations, crews and filmmaking equipment. In turn, these factors will contribute to the growth of the segment during the forecast period.
geographical overview
On the basis of geography, the Global Metaverse of Entertainment Market is segmented into North America, EuropeAsia-Pacific, South Americaand middle East and AfricaThe report offers actionable insights and estimates the contribution of all regions to the growth of the Global Entertainment Market Virtual Universe.
North America It is expected to account for 33% of the global market growth during the forecast period. The growth of the region is attributed to factors such as growth in the entertainment and gaming industry. Major entertainment brands are expected to incorporate gaming services into their service portfolios and invest in developing immersive gaming and entertainment experiences. The growth of interactive entertainment platforms and the growing focus on metaverse platforms will provide new ways to create content. These factors will drive the growth of the market in this region during the forecast period.
The Metaverse of the Entertainment Market – Market Dynamics
Key Factors Driving Market Growth
this Individuals are increasingly adopting AR/VR games is driving the market growth.
AR games enable users to play games in any environment. It provides a simulated environment through hardware products and software programs, giving users a virtual experience.
The use of augmented reality devices such as smart glasses is expected to increase over the forecast period due to rising awareness about augmented reality games.
For example, companies such as Sony, Microsoft, and Vuzix are developing smart glasses that use 3D technology for gaming.
These factors will drive the growth of the global market over the forecast period.
Key trends affecting the market
this Increasing adoption of online gaming is the main trend of the market.
With the help of blockchain, Internet of Things, 3D visualization and other emerging technologies, Metaverse provides an immersive visual experience.
The growing popularity of advanced gaming technologies, changing entertainment options for consumers, and rising income levels are driving the online gaming industry.
Additionally, improved internet connections have increased the number of players worldwide.
These factors will support the growth of the market during the forecast period.
Key challenges hindering the growth of the market
Privacy and Security Concerns is challenging market growth.
Virtual worlds collect and process large amounts of data about users and their environments, which raises privacy concerns.
Additionally, hackers may be able to gain access to users’ devices.
Smart devices used in the metaverse, such as smart glasses, VR headsets, etc., can automatically filter and process the environment in which the user is located.
These disadvantages are likely to hamper the growth of the market during the forecast period.
What are the key figures covered in this Metaverse of Entertainment Market report?
CAGR of the market during the forecast period
Detailed information on the factors that will drive the growth of the virtual universe entertainment market between 2023 and 2027
Accurately estimate the size of the virtual universe in the entertainment market and its contribution to the parent market
Accurately predict upcoming trends and changes in consumer behavior
The Growth of the Metaverse in the Entertainment Market North America, EuropeAsia-Pacific, South Americaand middle East and Africa
Comprehensive analysis of the market competitive landscape and detailed information about the vendors
A comprehensive analysis of the factors that challenge the growth of the metaverse from entertainment market manufacturers
Instant access to 17,000+ market research reports.
Technavio’s Subscription Platform
Related reports:
this virtual market It is expected to grow at a CAGR of 40.06% from 2022 to 2027.The market size is expected to increase $1,152.35 billion. The report broadly covers market segmentation by device (VR or AR device and computing device), component (hardware, software and services) and geography (North America, EuropeAsia-Pacific, South Americaand middle East and Africa).
the size of Metaverse Markets in Finance It is expected to grow at a CAGR of 21.33% from 2022 to 2027.The market size is expected to increase $107.06 billion. The report broadly covers components (hardware and software), end-users (brokerage firms, investment banks, commercial banks, etc.) and geography (Asia Pacific, North America, Europe, middle East and Africaand South America).
Metaverse within the entertainment market | |
Coverage | detail |
page number | 164 |
base year | 2022 |
historical period | 2017-2021 |
forecast period | 2023-2027 |
Growth Momentum and CAGR | Accelerating growth at a CAGR of 9.07% |
Market Growth 2023-2027 | $33,323.31 million |
market structure | fragmented |
Year-on-year growth in 2022-2023 (%) | 7.99 |
Regional Analysis | North America, Europe, Asia Pacific, South America, and Middle East and Africa |
Execute Market Contribution | North America 33% |
Key countries | US, Canada, China, UK and Germany |
competitive landscape | Leading manufacturers, market positioning of manufacturers, competitive strategies, industry risks |
Main company profile | Animoca Brands Corp. Ltd., BATTLE INFINITY, Decentraland, Epic Games Inc., Gamefam Inc., Hungama Digital Media Entertainment Pvt. Ltd., Meta Platforms Inc., NFT Worlds, Niantic Inc., Nolan Consulting Ltd., NVIDIA Corp. , OverActive Media Corp., Qualcomm Inc., Queppelin, Roblox Corp., Scuti.AI LLC, Sky Mavis, SportsIcon Inc., Tencent Holdings Limited and Zilliqa Research Pte. Limited |
Market Dynamics | Parent market analysis, market growth drivers and barriers, fast-growing and slow-growing segments analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market status analysis during the forecast period. |
Custom permissions | If our reports do not contain the data you are looking for, you can contact our analysts and customize market segments. |
Browse Technavio’s IT market Report
Table of contents
1.executive Summary
2 Market Structure
3 Market Size
4 Historical Market Size
5 Five Forces Analysis
6 Market Segmentation by End Users
7 Market Segmentation by Component
8 Customer Profile
9 geographical landscape
Top 10 drivers, challenges and trends
11 Supplier Profile
12 Supplier Analysis
13 Appendix
about Us
Technavio is a leading global technology research and consulting company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market position. Technavio’s report library of over 500 professional analysts includes over 17,000 reports and counts covering 800 technologies and spanning 50 countries. Their client base includes businesses of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive position in changing market scenarios.
touch
technology research
Jesse Maida
Media and Marketing Executive
USA: +1 844 364 1100
United Kingdom: +44 203 893 3200
e-mail: media@technavio.com
website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/metaverse-in-entertainment-market-size-to-grow-by-usd-33-32-bn-film-production-to-be-largest-revenue- Generate end user segment —technavio-301744212.html
SourceTechnavio
[ad_2]
Source link