The leaders here are Meta and Microsoft, which have spent $10 billion and $70 billion correspondingly for metaverse and virtual world-building projects.įurthermore, Technavio has recently published a report, where growing smartphone penetration and wide adoption of 5G technology are specified as the key drivers for market growth.įinally, we cannot ignore users’ keen interest in purchasing virtual assets with cryptocurrencies.Īdvantages Of Virtual Reality In Business Market Restrictions Here we should mention the increasing adoption of virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and blockchain and the digitalization in retail, fashion, art, healthcare, and other domains as the main driving forces behind the growth of the metaverse market.Īnother growth factor is increasing investment in the metaverse and Web 3.0. This assumption is backed up by the recent research by Statista, predicting a rapid spurt in global metaverse market revenue from $65.2 billion in 2022 to a tremendous $936.6 billion in 2030. Thus, given clear metaverse benefits for business, we can expect massive growth of this sector. To help you better visualize the future of the 3D metaverse, we would like to start with discussing the current state of this domain. Immerse Yourself in Metaverse with OpenGeeksLab Metaverse Market: A Comprehensive Overview

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