Monday, August 15

Metaverse in Entertainment Market size to grow by USD 28.92 billion, Driven by the Rising Consumer Spending Across Virtual Concerts, Events, & Others

NEW YORK, July 29, 2022 /PRNewswire/ — The “Metaverse In Entertainment Market by End-user (Film production, Music labels, OTT platforms, Television broadcasters, and Others) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The metaverse in entertainment market share is expected to increase to USD 28.92 billion from 2021 to 2026 at an accelerating CAGR of 8.55%. Technavio categorizes the metaverse in the entertainment market as a part of the global technology hardware, storage, and peripherals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth 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

For more information on the parent market analysis – Request a sample now!

Metaverse In Entertainment Market – Key Market Dynamics:

Major Driver 

  • The key factor driving the global metaverse in entertainment market growth is the rising consumer spending across virtual concerts, events, and others. The media and entertainment business in India reached USD 19 billion in 2020, according to the India Brand Equity Foundation Organization (IBEF), and is predicted to reach USD 25.9 billion by 2023. The significant increase in demand for virtual events as well as an increase in the number of people attending concerts and events will further propel the industry forward.

Major Challenges

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

To learn about additional key drivers, trends, and challenges-Request a Sample Report right now!

Metaverse In Entertainment Market – Segmentation Analysis:

The metaverse in the entertainment market report is segmented by End-user (Film production, Music labels, OTT platforms, Television broadcasters, and Others) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa).

  • Regional Highlights –33% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for metaverse in entertainment in North America. Market growth in this region will be faster than the growth of the market in South America and MEA. The rapid convergence of the entertainment industry and traction of the gaming culture, as well as integration of gaming services into the service offerings of major entertainment brands and increased investment to create more immersive gaming and entertainment experiences, will facilitate the metaverse in entertainment market growth in North America over the forecast period.

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

Grab a sample report for additional insights into the contribution of all the segments & regional opportunities

Metaverse In Entertainment Market – Vendor Analysis:

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

  • To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

The competitive scenario provided in the Metaverse In Entertainment Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Metaverse In Entertainment Market Forecast Report – Buy Now!

Related Reports:

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

  • The metaverse in 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 Entertainment Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.55%

Market growth 2022-2026

USD 28.92 billion

Market structure

Concentrated

YoY growth (%)

7.41

Regional analysis

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

Performing market contribution

North America at 33%

Key consumer countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

Key Topics Covered:

1 Executive 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 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory 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 positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises 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 positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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