Metaverse Market Size to Grow by USD 107.06 Billion From 2022 to 2027, Assessment on Parent Market, Five Forces Analysis, Market Dynamics & Segmentation - Technavio

NEW YORK, Nov. 15, 2022 /PRNewswire/ -- The Global Metaverse Market share is set to increase by USD 107.06 billion from 2022 to 2027. Moreover, the market's growth momentum will accelerate at a CAGR of 21.33% as per the latest market forecast report by Technavio. The market will also record a 20.59% Y-O-Y growth Rate during the forecast period.

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Technavio categorizes the global metaverse market in finance as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Technavio calculates the global technology hardware, storage, and peripherals market size by considering the revenue generated from sales of the hardware devices, equipment, and components.

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The Global Metaverse Market is fragmented and the five forces analysis by Technavio gives the accurate vision –

• Bargaining Power of Buyers
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
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  Global Metaverse Market– Customer Landscape  
• The disruption threats are strategic in nature, and operational risks for suppliers have been mapped based on their negative business impact and probability of occurrence. 
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Geography Segment Overview

Technavio's market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Metaverse Market as per geography is categorized into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Metaverse Market size and actionable market understandings.

• APAC is the fastest-growing region in the global Metaverse Market compared to other regions. 32% growth will originate from APAC. A number of factors are driving the market forward in the region, including the growing adoption of VR and AR technologies by financial institutions and banks, the popularity and acceptance of cryptocurrencies and blockchain technology, the increased focus on improving customer experience and investigating the potential of immersive technologies, and the quick uptake of metaverse platforms to align financial services and businesses with metaverse goals.

Type Segment Overview

• The Global Metaverse Market as per Component segmentation is categorized into Hardware and Software.
• Revenue Generating Segment - The market share growth by the hardware segment will be significant during the forecast period. The hardware segment is anticipated to post a strong CAGR in terms of sales. The metaverse platform can be accessed by a variety of headsets, smart glasses, and lenses. A camera is used in a virtual reality (VR) or augmented reality (AR) experience to change or improve the user's perception of a virtual world, such as a metaverse. This might be a web-based or mobile experience. Residential consumers' increased use of the metaverse market in finance, which is driven by evolving lifestyles and a rising preference for comfort, is primarily responsible for this segment's expansion.

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Major Driver Boosting the Market

• The rise of the metaverse market for finance is particularly being driven by its innovative features and user interfaces. In addition to providing payment platforms, banks are thinking about how to increase their presence in the metaverse and provide better services to customers who will be spending more time there.
• Holographic representations, 3D figures, and intelligent heat maps have significantly replaced flat visuals and charts in market data analysis. Banks will be able to successfully manage the digital transition regardless of how this new world appears if they employ these components to suit the needs of their customers, including their desire to participate in the crypto and metaverse economies. These elements will support market growth over the course of the projection.

Major trends influencing the growth of glamping

• The key trend driving the metaverse market in finance growth is a greater emphasis on VR and AR. During the projection period, technological advancements will further boost demand for AR and VR applications. These programs make technology easier to use and might make it easier to incorporate augmented reality into daily life.
• For instance, Project Glass from Google gives users access to a number of augmented reality applications. Users can enjoy new offline and online purchasing experiences by creating AR Android applications. Users can select the proper size and lower the risk of returns with the use of a virtual changing room. The global metaverse market for finance will continue to expand due to the expanding applications for AR and VR technology in various industries.

Major Challenges interrupting the market growth

• The emergence of the metaverse market for finance may be hampered by concerns about privacy and security. Data security and privacy have long been a concern for users of the metaverse, despite the fact that businesses and financial institutions continue to improve their IT security measures.
• The metaverse gathers and analyses huge amounts of information about users and their surroundings. Therefore, privacy issues provide a significant barrier for the market.
• Any security or privacy breach could cause problems and harm the company's reputation. Furthermore, corporations are worried about the security of these platforms because the metaverse is continually changing. Due to the fact that it is totally online, problems relating to security and privacy may soon appear. Such elements can limit the market's expansion.

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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19-impacted market research reports.

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• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist Metaverse Market growth during the next five years
• Estimation of the Metaverse Market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the Metaverse Market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Metaverse Market vendors

• The Cryptocurrency Mining Hardware Market is projected to grow by USD 12053.16 million with a CAGR of 11.35% during the forecast period 2022 to 2027. The Cryptocurrency Mining Hardware Market is segmented by product, application, and region.
• The Telerehabilitation Systems Market is projected to grow by USD 472.72 million with a CAGR of 21.74% during the forecast period 2021 to 2026. The report extensively covers the telerehabilitation systems market segmentation by product (hardware and software) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). 

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 4.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 4.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

5 Market Segmentation by Component

• 5.1 Market segments 
• Exhibit 25: Chart on Component - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Component - Market share 2022-2027 (%)

• 5.2 Comparison by Component 
• Exhibit 27: Chart on Comparison by Component
• Exhibit 28: Data Table on Comparison by Component

• 5.3 Hardware - Market size and forecast 2022-2027
• Exhibit 29: Chart on Hardware - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Hardware - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 5.4 Software - Market size and forecast 2022-2027
• Exhibit 33: Chart on Software - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Software - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 5.5 Market opportunity by Component 
• Exhibit 37: Market opportunity by Component ($ billion)

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 38: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 39: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 40: Chart on Comparison by End-user
• Exhibit 41: Data Table on Comparison by End-user

• 6.3 Brokerage firms - Market size and forecast 2022-2027
• Exhibit 42: Chart on Brokerage firms - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Brokerage firms - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Brokerage firms - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Brokerage firms - Year-over-year growth 2022-2027 (%)

• 6.4 Investment banks - Market size and forecast 2022-2027
• Exhibit 46: Chart on Investment banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Investment banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Investment banks - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Investment banks - Year-over-year growth 2022-2027 (%)

• 6.5 Commercial banks - Market size and forecast 2022-2027
• Exhibit 50: Chart on Commercial banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Commercial banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Commercial banks - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Commercial banks - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 54: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 55: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 57: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 58: Market opportunity by End-user ($ billion)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 60: Chart on Market share by geography 2022-2027 (%)
• Exhibit 61: Data Table on Market share by geography 2022-2027 (%)

• 8.2 Geographic comparison 
• Exhibit 62: Chart on Geographic comparison
• Exhibit 63: Data Table on Geographic comparison

• 8.3 North America - Market size and forecast 2022-2027
• Exhibit 64: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 8.4 Europe - Market size and forecast 2022-2027 
• Exhibit 68: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 8.5 APAC - Market size and forecast 2022-2027
• Exhibit 72: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 75: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 8.6 South America - Market size and forecast 2022-2027
• Exhibit 76: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 79: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 8.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 8.8 US - Market size and forecast 2022-2027
• Exhibit 84: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 87: Data Table on US - Year-over-year growth 2022-2027 (%)

• 8.9 China - Market size and forecast 2022-2027
• Exhibit 88: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 91: Data Table on China - Year-over-year growth 2022-2027 (%)

• 8.10 Germany - Market size and forecast 2022-2027
• Exhibit 92: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 95: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 8.11 UK - Market size and forecast 2022-2027
• Exhibit 96: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 99: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 8.12 Canada - Market size and forecast 2022-2027
• Exhibit 100: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 103: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 8.13 Market opportunity by geography 
• Exhibit 104: Market opportunity by geography ($ billion)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 108: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 109: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 11.3 Bank of America Corp. 
• Exhibit 111: Bank of America Corp. - Overview
• Exhibit 112: Bank of America Corp. - Business segments
• Exhibit 113: Bank of America Corp. - Key news
• Exhibit 114: Bank of America Corp. - Key offerings
• Exhibit 115: Bank of America Corp. - Segment focus

• 11.4 BNP Paribas SA 
• Exhibit 116: BNP Paribas SA - Overview
• Exhibit 117: BNP Paribas SA - Business segments
• Exhibit 118: BNP Paribas SA - Key offerings
• Exhibit 119: BNP Paribas SA - Segment focus

• 11.5 HSBC Holdings Plc 
• Exhibit 120: HSBC Holdings Plc - Overview
• Exhibit 121: HSBC Holdings Plc - Business segments
• Exhibit 122: HSBC Holdings Plc - Key news
• Exhibit 123: HSBC Holdings Plc - Key offerings
• Exhibit 124: HSBC Holdings Plc - Segment focus

• 11.6 IBK Industrial Bank of Korea 
• Exhibit 125: IBK Industrial Bank of Korea - Overview
• Exhibit 126: IBK Industrial Bank of Korea - Product / Service
• Exhibit 127: IBK Industrial Bank of Korea - Key offerings

• 11.7 JPMorgan Chase and Co. 
• Exhibit 128: JPMorgan Chase and Co. - Overview
• Exhibit 129: JPMorgan Chase and Co. - Business segments
• Exhibit 130: JPMorgan Chase and Co. - Key offerings
• Exhibit 131: JPMorgan Chase and Co. - Segment focus

• 11.8 KB Financial Group Inc. 
• Exhibit 132: KB Financial Group Inc. - Overview
• Exhibit 133: KB Financial Group Inc. - Business segments
• Exhibit 134: KB Financial Group Inc. - Key offerings
• Exhibit 135: KB Financial Group Inc. - Segment focus

• 11.9 Mogo Inc. 
• Exhibit 136: Mogo Inc. - Overview
• Exhibit 137: Mogo Inc. - Product / Service
• Exhibit 138: Mogo Inc. - Key offerings

• 11.10 National Bank of Kuwait S.A.K.P 
• Exhibit 139: National Bank of Kuwait S.A.K.P - Overview
• Exhibit 140: National Bank of Kuwait S.A.K.P - Business segments
• Exhibit 141: National Bank of Kuwait S.A.K.P - Key offerings
• Exhibit 142: National Bank of Kuwait S.A.K.P - Segment focus

• 11.11 NH Investment and Securities Co. Ltd.
• Exhibit 143: NH Investment and Securities Co. Ltd. - Overview
• Exhibit 144: NH Investment and Securities Co. Ltd. - Product / Service
• Exhibit 145: NH Investment and Securities Co. Ltd. - Key offerings

• 11.12 Shinhan Financial Group Co. Ltd. 
• Exhibit 146: Shinhan Financial Group Co. Ltd. - Overview
• Exhibit 147: Shinhan Financial Group Co. Ltd. - Business segments
• Exhibit 148: Shinhan Financial Group Co. Ltd. - Key offerings
• Exhibit 149: Shinhan Financial Group Co. Ltd. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 150: Inclusions checklist
• Exhibit 151: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 152: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 153: Research methodology
• Exhibit 154: Validation techniques employed for market sizing
• Exhibit 155: Information sources

• 12.5 List of abbreviations 
• Exhibit 156: List of abbreviations

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