The global metaverse market size reached USD 47.69 Billion in 2020 and is expected to register a revenue CAGR of 43.3% during the forecast period, according to latest analysis by Emergen Research. Rising focus on converging digital and physical worlds through internet and the recent COVID-19 outbreak are expected to support market revenue growth between 2021 and 2028. In addition, increasing emphasis on developing metaverse platforms for education industry will continue to boost revenue growth of the market. 

The report explains the current market scenario through diagrams, pictures, charts, tables, and other pictorial representations. The statistical data is obtained through extensive primary and secondary research that offers exhaustive breakdown of the Metaverse market and its key factors. The report also covers the key market drivers, factors restraining the market growth, and the existing and potential market trends. The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.

Korea Advanced Institute of Science and Technology (KAIST) intends to develop a virtual campus in Kenya, which will start in September 2023 in Konza Technopolis in nearby Nairobi. The university desires to develop a metaverse that will run classrooms and provide an immersive learning opportunity on campus through the use of augmented reality, virtual reality, and eye tracking technology. Soonchunhyang University in Korea arranged a virtual welcoming event for freshers to participate as avatars.

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Major companies in the market report include Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Roblox Corporation, Unity Technologies, Inc., Lilith Games, and Nextech AR Solutions Corp.

Emergen Research has segmented global metaverse on the basis of component, platform, offerings, technology, application, end-use, and region:

• Component Outlook (Revenue, USD Billion; 2018–2028)
  • Hardware
    1. Displays
    2. eXtended Reality (XR) Hardware
       1. Haptic Sensors & Devices
       2. Smart Glasses
       3. Omni Treadmills
    3. AR/VR Headsets
  • Software
    1. Asset Creation Tools
    2. Programming Engines

• Platform Outlook (Revenue, USD Billion; 2018–2028)
  • Desktop
  • Mobile

• Offerings Outlook (Revenue, USD Billion; 2018–2028)
  • Virtual Platforms
  • Asset Marketplaces
  • Avatars
  • Financial Services

• Technology Outlook (Revenue, USD Billion; 2018–2028)
  • Blockchain
  • Virtual Reality (VR) & Augmented Reality (AR)
  • Mixed Reality (MR)

• Application Outlook (Revenue, USD Billion; 2018–2028)
  • Gaming
  • Online Shopping
  • Content Creation
  • Social Media
  • Conference
  • Virtual Runway Shows
  • Aircraft Maintenance
  • Others

Regional Analysis of the Metaverse Market:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Unfolding the prime factors prompting global market growth:

The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Metaverse market into a broad product spectrum.

A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights.

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The report strives to pre