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Global Metaverse Market to Reach $344.7 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Metaverse estimated at US$32.4 Billion in the year 2020, is projected to reach a revised size of US$344.7 Billion by 2027, growing at a CAGR of 40.2% over the analysis period 2020-2027. Software, one of the segments analyzed in the report, is projected to record a 39.3% CAGR and reach US$212.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hardware segment is readjusted to a revised 43.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $13 Billion, While China is Forecast to Grow at 45.7% CAGR
The Metaverse market in the U.S. is estimated at US$13 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$40.9 Billion by the year 2027 trailing a CAGR of 45.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 34.8% and 36.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 39.8% CAGR.

Professional Services Segment to Record 34.9% CAGR
In the global Professional Services segment, USA, Canada, Japan, China and Europe will drive the 34.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.9 Billion in the year 2020 will reach a projected size of US$23.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 90 Featured)
3i Inc. Apple Inc. Atari, Inc. Autodesk Inc. Dapper Labs Decentraland Epic Games, Inc. Fastly Google LLC IBM Corporation Infor Madeium Magic Leap, Inc. Meta Platforms, Inc. Microsoft Corporation Nextech AR Solutions Inc. NVIDIA Corporation Oracle Corporation PTC Inc. Roblox Corporation SAP SE Synthesis AI Systems Engineering & Assessment Ltd. Unity Technologies, Inc.

Source: ReportLinker