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"Coursera (US), edX (US), Pluralsight (US), Udemy (US), Udacity (US), Edureka (India), Alison (Ireland), LinkedIn learning (US), Jigsaw Academy (India), Iversity (Germany), Miriadax (Spain), Intellipaat (India), FutureLearn (UK), Edmodo (US), SWAYAM (India), Novoed (US), Xuetangx (China)."Metaverse in Gaming market by Component, Hardware (AR Devices, VR Devices, MR Devices, Displays), Software (Extended Reality Software, Gaming Engines, Metaverse Platforms, Financial Platforms), Game Genre and Region - Global Forecast to 2028.
The global Metaverse in Gaming Market size is projected to grow from USD 22.7 billion in 2023 to USD 119.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 39.3% during the forecast period. Major factors that are expected to drive the growth of the Metaverse in Gaming Market include rise in demand for the 3D hardware devices in the adjacent markets namely AR, XR, VR, MR. Furthermore, emergence of gamification, virtual reality gaming, and AR-based mobile games are expected to create ample opportunities for metaverse in gaming vendors.
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By component, hardware segment to record highest CAGR during the forecast period
The use of HUD in the entertainment sector is expected to fuel the growth of the AR devices segment of the market. The ability of AR devices to combine the real world with virtual objects has increased their demand in various applications. Mobile-based HMDs have a high resolution and a 360° viewing angle. The use of mobile phones for 3D navigation with a real-time overlay of computer graphics has numerous applications in the gaming sector and live entertainment; this is expected to drive the growth of the AR devices segment of the market. The use of AR in mobile applications for Android- and iOS-based devices has significantly contributed to the growth of this segment. Presently, AR smart glasses are the most demanded among AR devices in industrial applications, thereby contributing to the growth of the AR devices segment.
By hardware, the VR devices segment to exhibit significant growth during the forecast period
VR technology provides users with a virtual environment using computer hardware and software. It provides a fully immersive environment wherein users can interact with objects like those in the real world. This technology uses gesture-recognition systems, sensors, and embedded electronic components. Processors help execute input and give users an output to perceive that virtual objects are a part of the environment. VR technology is used in military, consumer, training, education, and retail applications. VR is a fascinating way to traverse using nothing more than the power of technology, with a headset and motion-tracking technology. Prominent VR devices are Meta Quest, Valve Index, HTC Vive, HP Reverb, and Sony PlayStation, among others. VR headsets quintessentially include a stereoscopic display (providing separate images for each eye), stereo sound, and sensors like accelerometers and gyroscopes for tracking the position of the user's head to match the orientation of the virtual camera with the user's eye positions in the real world. Few VR headsets also have eye-tracking sensors and gaming controllers. The VR glasses use a technology called head-tracking, which changes the field of vision or Field of View (FoV) as a person turns his/her head.
By region, North America to showcase immense growth during the forecast period
North America has an advanced communication, blockchain and extended reality technology infrastructure that helps Metaverse in gaming solution providers offer quality services to players. The US invests heavily in R&D activities. It is also one of the early adopters of metaverse in gaming. The region is home to companies such as Google, Meta, Microsoft, Qualcomm, Unity, and Nexon which aids in driving the growth of the market in the country. The use of AR, VR, MR technologies in gaming hardware, gaming engines for gaming platforms design is expected to fuel the US market growth. More than half of 9- to- 12-year-olds in the United States play on Roblox at least regularly, and ten of the top 14 gaming platforms utilized by American children feature a social play component. Metaverse demands large bandwidth of internet for seamless functioning. North America is a decent playground with increasing internet speeds associated with new generation of air waves, and hence the adoption of gaming metaverse is subject to only increase going forward. Higher Internet speed ensures reduced latency and higher bandwidth to handle better resolutions.
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Unique Features in the
Metaverse in Gaming Market
Through the metaverse, users can explore, interact, and connect with realistic-feeling digital landscapes in incredibly immersive virtual environments. A lifelike experience is enhanced by intricate surroundings, realistic mechanics, and cutting-edge graphics.
The metaverse offers persistent worlds-worlds that go on and change even when players are not signed in-as opposed to traditional games. The idea that players are a part of a living, breathing universe is strengthened by this continuity.
Players may transition between games and experiences in the metaverse with ease, frequently taking their digital assets, avatars, and progress with them. An integrated digital ecology is produced by this interoperability.
Players are encouraged to produce and distribute their own material in the metaverse, which can include original game levels, avatars, virtual goods, and full games. Personalization and inventiveness are fostered by this user-generated content.
One essential element of the metaverse is socialization. Real-time communication, teamwork, and competition among players promotes a sense of belonging and shared experiences. Concerts, get-togethers, and virtual events are frequent.
There are thriving virtual marketplaces in the metaverse where users can purchase, sell, and exchange virtual products and services. Real ownership and monetization of virtual assets are made possible by digital currencies and non-fungible tokens (NFTs).
Major Highlights of the
Metaverse in Gaming Market
The gaming industry's metaverse is distinguished by a number of noteworthy features that show off its revolutionary potential and quick expansion. The development of persistent and immersive virtual worlds, where users may explore, interact, and partake in experiences that seem remarkably genuine because of sophisticated graphics and realistic physics, is one of the most important features. Even when gamers are not signed in, these virtual landscapes are still developing and existing, which heightens the impression of a dynamic, alive world.
Another important component is interoperability, which lets users switch between games and experiences without losing their progress, avatars, or digital assets. As a result, a cohesive digital ecology is created, encouraging higher levels of involvement and continuity.
The metaverse is primarily a social environment where people compete, collaborate, and communicate in real time to build thriving communities and shared experiences. With people purchasing, selling, and trading virtual products and services, virtual economies are thriving. NFTs, or non-fungible tokens, are frequently used in conjunction with digital currencies to guarantee the true ownership and financial gain of virtual assets.
The incorporation of AR and VR technologies amplifies the immersive experience by enabling players to engage with the virtual environment through physical interaction.
Extensive personalization and customization choices, cross-platform accessibility, and the integration of blockchain technology for security and transparency are further characteristics of the metaverse. Smarter NPCs, dynamic landscapes, and individualized experiences depending on player activity are all made possible by AI and machine learning.
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Top Companies in the
Metaverse in Gaming Market
The major companies in the Metaverse in Gaming Market are Meta (US), Microsoft (US), NetEase (China), Electronic Arts (US), Take-Two (US), Tencent (China), Nexon (Japan), Epic games (US), Unity (US), Valve (US), Accenture (Ireland), Adobe (US), HPE (US), Deloitte (UK), Ansys (US), Autodesk (US), Intel (US), Tech Mahindra (India), ByteDance (China), Nvidia (US), Activision Blizzard (US), Samsung (South Korea), Google (US), Sony (Japan), HTC (Taiwan), Seiko Epson (Japan), Apple (US), Qualcomm (US), Panasonic (Japan), Eon Reality (US), Roblox (US), Lenovo (Hong Kong), Razer (US), Nextech AR Solutions (Canada), ZQGame (China), Talecraft (Marshall islands), VR Chat (US), Decentraland (Argentina), Somnium Space (UK), and Sandbox VR (US).
Meta (US):
Meta (US) is one of the prominent players in the Metaverse in Gaming Market that provides comprehensive digital experience platform featured with robust metaverse capabilities. In the Metaverse in Gaming Market space, it provides its offerings via the Spark AR platform. Meta's metaverse solution provides its clients the studio tool from Meta that allows users to create their AR effects for mobile. Meta continues to add capabilities to the platform. It added data analytics for Instagram and Facebook campaigns. Moreover, it emphasizes on product enhancements to gain market share. For instance, in December 2021, Meta has announced that it is opening access to its VR social platform Horizon Worlds. People in the US and Canada who are 18 and up can access the free Quest app without an invite. Horizon Worlds is Meta's first attempt at releasing something that resembles CEO Mark Zuckerberg's vision of the metaverse. It is an expansive, multiplayer platform that meshes Roblox and the OASIS VR world from Ready Player One. Originally just called Horizon, it requires a Facebook account, lets you connect with up to 20 people at a time in a virtual space.
Microsoft:
Microsoft is a multinational technology corporation that manufactures computer software, consumer electronics, personal computers,related services. The Xbox video game consoles and the Microsoft Surface line-up of touchscreen personal computers are its flagship hardware products. In addition the company offers mixed reality products (HoloLens), cloud computing (Azure), and software development. The company also produces a wide range of other consumer and enterprise software for desktops, laptops, tabs, gadgets, and servers (Visual Studio). Microsoft serves various industries, such as, Automotive, Government, Healthcare, Manufacturing, Financial Services, and Retail. Microsoft has made significant investments and developments in the Metaverse in Gaming Market through product launch of Microsoft Mesh and few acquisitions. For instance, in January 2022, Microsoft acquired Activision Blizzard (US), another well-known company in the Metaverse in Gaming Market that specializes in producing games including Call of Duty, Overwatch, Candy Crush, and so on. Activision Blizzard integrates Activision, Blizzard Entertainment, Major League Gaming, Activision Blizzard Studios, King, as well as independent studios in sthe Metaverse in Gaming Market solutions.
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