Metaverse Market Size, Share & Trends Analysis Report By Product (Infrastructure, Hardware), By Platform (Desktop, Mobile), By Technology, By Application, By End Use, By Region, And Segment Forecasts, 2025 - 2030

Metaverse Market Size & Trends

The global metaverse market size was estimated at USD 105.40 billion in 2024 and is projected to grow at a CAGR of 46.4% from 2025 to 2030. The integration of spatial technologies enables users to engage with digital content as if it exists in their physical surroundings, blurring the boundary between virtual and real-world experiences. Companies are increasingly adopting this technology to create immersive products and services that enhance user interactions and bridge the gap between the digital and physical realms, driving innovation in various industries.

For instance, in January 2024, Unity Technologies, an American software company, collaborated with Apple Inc. to support spatial experiences, including augmented reality (AR) and spatial computing. This collaboration aims to support the development of spatial experiences, particularly within the realm of augmented reality (AR) and spatial computing. This collaboration seeks to empower developers to create interactive digital content that seamlessly integrates with the physical world, thereby enhancing user experiences and advancing the evolution of the metaverse.

As more organizations create digital replicas of physical locations, the demand for virtual land and space design will grow. This trend will be particularly prominent in sectors such as education, training, and business operations, where virtual environments are used for immersive learning and collaboration. The increased need for custom virtual spaces will drive innovation in design tools and platforms tailored to these industries. For instance, in October 2024, Meta collaborated with VictoryXR to launch the first digital twin metaversities in Europe, allowing students at universities such as the University of Leeds and the University of the Basque Country to attend immersive, remote classes in virtual environments that replicate their physical campuses. This collaboration has resulted in digital replicas of over 130 campuses, offering hands-on learning, simulations, and interactive content across subjects such as performance, physiotherapy, and more.

Advancements in AR, VR, MR, and 3D visualization drive market growth, enhancing immersive experiences for businesses. These technologies facilitate improved visualization, simulation, and prototyping across industries. Moreover, the focus on digital twins and smart factories further leverages their capabilities. Rising investments and partnerships underscore the market's expansion, indicating increased interest and support. Moreover, the emphasis on delivering enhanced customer experiences drives adoption and innovation. Furthermore, the integration of AR, VR, MR, and 3D visualization technologies enables industries to simplify processes and reduce costs. Businesses utilize these tools for training, remote collaboration, and product design, improving efficiency and productivity. Moreover, the growing demand for immersive experiences in the entertainment, gaming, and education sectors further propels market growth.

Cryptocurrencies and Non-Fungible Tokens (NFTs) are significantly influencing the metaverse industry, driving the evolution of digital interactions. Cryptocurrencies enable transactions within virtual worlds by creating a decentralized, borderless economy, allowing users to engage in secure, fast exchanges without relying on traditional financial systems. This creates a seamless commerce experience within the metaverse, supporting the trade of virtual goods and services. At the same time, NFTs redefine ownership by certifying the uniqueness and provenance of digital assets, such as artwork, music, virtual real estate, and in-game items, adding a layer of scarcity and value to the digital landscape. These innovations are shaping a metaverse where ownership, creativity, and commerce converge, establishing a dynamic and interconnected virtual economy that fosters new opportunities for creators and investors alike.

Products Insights

In terms of product, the software segment dominated the market with a revenue share of 41.6% in 2024. The growing demand for cloud infrastructure and real-time rendering solutions is crucial for delivering seamless, high-quality virtual experiences. These advancements will drive innovation in the software segment of the metaverse, enabling more accessible and scalable development of immersive environments across various industries. For instance, in August 2024, Vagon, a California-based cloud computing startup, partnered with Unity to offer immersive, interactive 3D content streaming without hardware barriers, with Vagon Streams becoming the first Unity Verified Solution for cloud streaming. This partnership enables developers to stream graphics-intensive applications such as games, architecture projects, and virtual worlds using NVIDIA RTX GPUs, ensuring high-quality, low-latency experiences across all devices.

The services segment is projected to grow significantly over the forecast period. As the metaverse expands and becomes increasingly integrated into various aspects of daily life, there is a growing need for specialized services to support users and businesses in navigating this complex ecosystem. Services such as virtual event planning, content creation, community management, and technical support are essential for ensuring smooth operations and optimizing user experiences within virtual environments. Moreover, as companies across industries recognize the potential of the metaverse for enhancing engagement, collaboration, and innovation, there is a rising demand for consultancy and advisory services to guide strategic planning and implementation.

Platform Insights

The desktop segment held the largest revenue share in the market, driven by the demand for powerful computing capabilities required to run complex virtual environments. Desktops offer the necessary processing power and graphic performance for creating and interacting with immersive 3D worlds, making them essential for developers and creators. Moreover, the familiarity and versatility of desktop platforms make them the preferred choice for both gaming and professional applications in the metaverse. As virtual reality (VR) and augmented reality (AR) technologies evolve, desktops continue to support high-performance experiences, especially for resource-intensive tasks like real-time rendering and simulations.

The mobile segment is expected to experience significant growth in the coming years, driven by the increasing accessibility of mobile devices and the growing popularity of mobile-based metaverse experiences. With advancements in smartphone technology, including enhanced graphics and processing power, mobile devices are becoming more capable of supporting immersive virtual environments. As mobile apps and platforms for gaming, social interaction, and virtual commerce continue to expand, more users will be able to engage with the metaverse on the go. Moreover, the proliferation of 5G networks will further enable smooth, high-quality mobile experiences in the metaverse, reducing latency and improving real-time interactions.

Technology Insights

The VR and AR segment held the largest market revenue share in 2024, driven by the increasing adoption of immersive technologies across various industries. Virtual reality provides fully immersive experiences, while augmented reality enriches the real world by adding digital elements, making both technologies integral to the metaverse ecosystem. These technologies are becoming increasingly important in sectors like gaming, education, healthcare, and retail, where they offer interactive and engaging experiences. With continuous advancements in VR and AR hardware, including more cost-effective and high-performance headsets, adoption is set to grow, driving market revenue. As these technologies evolve, their impact on various industries will expand, making them key players in the future of the metaverse.

The mixed reality (MR) segment is projected to grow significantly over the forecast period as industries seek more advanced ways to blend the physical and virtual worlds. Mixed reality integrates elements of both virtual reality and augmented reality, enabling users to interact with real and virtual objects simultaneously in a fully immersive environment. This technology is increasingly being used in sectors such as manufacturing, healthcare, and training, where hands-on simulations and real-time collaboration are critical. As MR hardware becomes more accessible and affordable and as software development accelerates, the segment is expected to see widespread adoption.

Application Insights

The gaming segment held the largest market revenue share in 2024, driven by gaming applications that provide rich, interactive experiences, forming a solid foundation for the development of metaverse ecosystems. The gaming industry boasts a large, diverse user base across various demographics and geographic regions, offering a broad audience for metaverse applications to engage. These gaming platforms also function as social hubs where users can interact, collaborate, and compete, fostering community engagement and enhancing user retention. Moreover, gaming companies have been leaders in technological innovation, advancing graphics, networking, and artificial intelligence, all essential for creating compelling metaverse experiences.

The online shopping segment is expected to experience significant growth over the forecast period. As metaverse applications evolve, they will introduce virtual storefronts and digital marketplaces where users can explore, shop, and interact with products and brands in immersive 3D environments. This enhanced shopping experience attracts consumers who are looking to engage in novel ways to discover and purchase products online. Moreover, the integration of augmented reality (AR) and virtual reality (VR) will allow users to visualize products in their virtual surroundings before purchasing, improving the shopping experience and reducing returns.

End Use Insights

The BFSI dominated the market in 2024. Metaverses in the BFSI sector are growing as financial institutions embrace digital transformation. These Metaverses provide services such as account management, fraud detection, and claim processing, improving both customer experience and operational efficiency. The growing complexity of financial products and services drives the need for automation in customer support. Metaverses help meet the demand for personalized financial advice and quick resolution of issues. As BFSI companies continue to focus on innovation, Metaverses will play an increasingly important role in shaping customer interactions.

Tourism and hospitality in the metaverse are experiencing significant growth as virtual experiences become an integral part of the industry. Virtual tours, immersive hotel experiences, and digital exploration of landmarks offer users the chance to experience destinations without the need for travel, making tourism more accessible. For instance, users can take a virtual tour of the iconic Burj Khalifa in Dubai through the platform Eventcombo, exploring the world’s tallest building in an interactive and immersive way. As more travel agencies and hospitality brands adopt these technologies, the metaverse is enhancing customer engagement by offering unique, personalized travel experiences.

Regional Insights

North America metaverse market leads globally, accounting for the largest market share of 42.8% in 2024. North America is experiencing rapid growth in the metaverse market, with high levels of investment in virtual and augmented reality technologies from major tech companies. The region is seeing increased adoption of metaverse applications in industries such as gaming, education, and entertainment, driven by strong digital infrastructure. Consumer interest in immersive experiences continues to rise, particularly with the proliferation of VR and AR devices.

U.S. Metaverse Market Trends

The metaverse industry in the U.S. is growing rapidly, fueled by the country’s dominance in gaming, digital content creation, and advanced technology development. U.S.-based companies are helping in building metaverse platforms, integrating virtual economies, and advancing the use of blockchain and NFTs. The gaming industry, in particular, is a major contributor to this growth, with platforms offering virtual worlds that allow users to interact and create.

Europe Metaverse Market Trends

Europe metaverse industry is increasingly adopting metaverse technologies, particularly in sectors like manufacturing, healthcare, and education, where immersive experiences are being integrated into everyday operations. European countries are focusing on creating regulatory frameworks to support the development of secure, user-friendly metaverse applications. Collaboration between tech companies and educational institutions is promoting the use of the metaverse for training and virtual learning.

Asia Pacific Metaverse Market Trends

The Asia Pacific metaverse industry is experiencing a surge in metaverse adoption, particularly in countries such as China, Japan, and South Korea, where virtual reality and gaming applications are thriving. The younger, tech-savvy population in the region is driving demand for immersive virtual experiences, particularly in gaming and socializing. Japan and South Korea are integrating metaverse technologies into retail, entertainment, and fashion, offering innovative experiences for consumers. As 5G networks expand across the region, the ability to deliver real-time, high-quality virtual experiences is further enhancing the growth of the metaverse industry.

Key Metaverse Company Insights

Some of the key companies in the metaverse industry include Lilith Games, Meta, Microsoft, NetEase, Inc., Epic Games, Inc., and others. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies.

• Epic Games, Inc. is helping build the metaverse through platforms such as Fortnite, offering virtual spaces for gaming and socializing. They use their Unreal Engine to create realistic 3D environments that power many metaverse experiences. The company is focused on making these virtual worlds interactive and accessible across different platforms. Epic is also working on improving the technology to make virtual experiences more immersive and engaging.

• Meta, previously known as Facebook, is building the metaverse with platforms such as Horizon, where people can meet, play, and work virtually. They are investing in VR headsets such as Oculus to make the experience more immersive. Meta aims to create digital spaces that blend with real-life activities, such as virtual offices and social areas. Their goal is to connect people in new and exciting ways through virtual worlds.

Recent Developments

• In March 2024, Cornerstone, a software company, acquired TALESPIN REALITY LABS, INC., a software company that develops and builds virtual, augmented, and mixed reality applications in the U.S.  This acquisition aims to integrate immersive learning experiences utilizing spatial computing and GenAI, into its content subscriptions and learning solutions, providing personalized, contextually relevant training across various industries.

• In February 2024, Capgemini, a French IT company, and Unity strengthened their partnership, with Capgemini overseeing Unity’s Digital Twin Professional Services arm, creating one of the largest groups of Unity developers worldwide. This collaboration speeds up the development of real-time 3D visualization software for the industrial use of digital twins, allowing users to interact with physical systems and advance intelligent industry solutions.

• In January 2024, Meta, a U.S. technology company, partnered with NVIDIA Corporation to procure 350,000 H100 GPUs. The company intends to strengthen its infrastructure for the advancement of artificial general intelligence (AGI) and enhance support for various metaverse-related services and devices through AGI.

• In January 2024, Ansys Inc., an American multinational company introduced Ansys SimAI, an AI-powered SaaS application to transform engineering workflows by combining simulation accuracy with generative AI speed. This launch aims to accelerate performance prediction, enabling rapid analysis and reducing time-to-market for product development. 

Metaverse Market Report Scope

Global Metaverse Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global Metaverse market report based on product, platform, technology, application, end use and region.

• Product Outlook (Revenue, USD Billion, 2018 - 2030)

  • Infrastructure

    • Chips & Processors

    • Network Capabilities

    • Cloud & Edge Infrastructure

    • Cybersecurity

  • Hardware

    • Holographic Displays

    • eXtended Reality (XR) Hardware

      • Haptic Sensors & Devices

      • Smart Glasses

      • Omni Treadmills

    • AR/VR Devices

    • Others

  • Software

    • Asset Creation Tools

    • Programming Engines

    • Virtual Platforms

    • Avatar Development

  • Services

    • User Experiences

    • Asset Marketplaces

    • Financial Services

• Platform Outlook (Revenue, USD Billion, 2018 - 2030)

  • Desktop

  • Mobile

  • Headsets

• Technology Outlook (Revenue, USD Billion, 2018 - 2030)

  • Blockchain

  • Virtual Reality (VR) & Augmented Reality (AR)

  • Mixed Reality (MR)

  • Others

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Gaming

  • Online Shopping

  • Content Creation & Social Media

  • Events & Conference

  • Digital Marketing (Advertising)

  • Testing and Inspection

  • Others

• End Use Outlook (Revenue, USD Billion, 2018 - 2030)

  • Aerospace & Defense

  • Education

  • Tourism and Hospitality

  • BFSI

  • Retail

  • Media & Entertainment

  • Automotive

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)

    • KSA

    • UAE

    • South Africa