South Korea Metaverse Market Size & Outlook, 2023-2030
South Korea metaverse market, 2018-2030 (US$M)
Related Markets
South Korea metaverse market highlights
- The South Korea metaverse market generated a revenue of USD 3,402.7 million in 2023 and is expected to reach USD 51,415.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 47.4% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating product in 2023.
- Services is the most lucrative product segment registering the fastest growth during the forecast period.
Metaverse market data book summary
| Market revenue in 2023 | USD 3,402.7 million |
| Market revenue in 2030 | USD 51,415.2 million |
| Growth rate | 47.4% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Infrastructure, Hardware, Software, Services |
| Key market players worldwide | Meta Platforms Inc Class A, Tencent Holdings Ltd, NetEase Inc ADR, NVIDIA Corp, Epic Corp, Roblox Corp Ordinary Shares - Class A, Nextech3d AI Corp Ordinary Shares - New Shares, Grayscale Decentraland Trust (MANA), Microsoft Corp, Antier Solutions Pvt Ltd, ByteDance, Unity Technologies, Lilith Games, The Sandbox, Active Theory |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.1% of the global metaverse market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China metaverse market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 51,415.2 million by 2030.
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Metaverse Market Scope
Metaverse Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea metaverse market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to metaverse market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 41.72% in 2023. Horizon Databook has segmented the South Korea metaverse market based on infrastructure, hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has one of the fastest internet connections in the world, this has helped them take the lead in some of the projects surrounding the adoption of blockchain technology as the metaverse expands. Moreover, the government in South Korea is supporting the development of metaverse in the region.
According to a report, the South Korean government has spent USD 177.1 million in the metaverse as a part of its Digital Innovative Deal project, a program designed to invest in new technologies in order to boost the country's economy.
Moreover, in January 2023, The Seoul Metropolitan Government started the Metaverse Seoul project, which enables citizens of the capital city of South Korea to use local services in a virtual world. For the initial stage of the metaverse project, the local government reportedly invested about 2 billion won (USD 1.6 million).
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Our clientele includes a mix of metaverse market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea metaverse market , including forecasts for subscribers. This country databook contains high-level insights into South Korea metaverse market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea metaverse market size, by product, 2018-2030 (US$M)
South Korea Metaverse Market Outlook Share, 2023 & 2030 (US$M)
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