NEW YORK – The Metaverse Industry In Finance by Component (Hardware and Software) 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 market share in finance is expected to increase to USD 50.37 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 20.93%. Technavio categorizes the global metaverse market in finance as a part of the global information technology (IT) spending 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 metaverse market in finance during the forecast period.

Metaverse Market In Finance – Segmentation Analysis

The metaverse market in the finance report is segmented by Component (Hardware and Software) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa).

  • Regional Analysis – 32% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the metaverse market in finance in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC. The rising popularity and acceptance of cryptocurrencies and blockchain technology will facilitate the metaverse market growth in finance in North America over the forecast period.
  • Revenue Generating Segment – The metaverse market share growth in finance by the hardware segment will be significant for revenue generation. The hardware segment is expected to register a robust CAGR in terms of revenue during the forecast period. Various types of headsets, smart glasses, and lenses are utilized to interface with the metaverse platform. A virtual reality (VR) or augmented reality (AR) experience involves the use of a camera to alter or enhance the user’s vision of a virtual world, such as a metaverse. Moreover, factors such as the quick adoption of AR devices and VR headsets by banks and financial institutions to improve customer service and experience, the introduction of cutting-edge technology to speed up innovation in fintech solutions, and rising hardware developments are propelling the segment forward and thereby driving the metaverse market growth in finance.
Metaverse Industry In Finance – Key Market Dynamics:
  • Market Driver
  • Market Challenges

The integration with VR and AR platforms and technological advancements in the metaverse are some of the key market drivers. However, factors such as privacy and security concerns over metaverse will challenge market growth.

Metaverse Industry In Finance – Vendor Analysis

The metaverse market in finance is concentrated and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.

    • Bank of America Corp.
    • BNP Paribas SA
    • IBK
    • KB Financial Group Inc.
    • Mogo Inc.
    • National Bank of Kuwait S.A.K.P
    • NH Investment and Securities Co. Ltd.
    • Shinhan Financial Group Co. Ltd.

Source: Technavio