Zona de Azar USA – Metaverse in Entertainment Market Size to Grow by USD 28.92 Billion

USA.- August 1st 2022 www.zonadeazar.com The “Metaverse In Entertainment Market by End-user (Film production, Music labels, OTT platforms, Television broadcasters, and Others) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering.

With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The metaverse in entertainment market share is expected to increase to USD 28.92 billion from 2021 to 2026 at an accelerating CAGR of 8.55%.

Technavio categorizes the metaverse in the entertainment market as a part of the global technology hardware, storage, and peripherals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the entertainment in the metaverse market during the forecast period.

Technavio has announced its latest market research report titled Metaverse in Entertainment Market by End-user and Geography – Forecast and Analysis 2022-2026

Metaverse In Entertainment Market – Key Market Dynamics:

Major Driver 

• The key factor driving the global metaverse in entertainment market growth is the rising consumer spending across virtual concerts, events, and others. The media and entertainment business in India reached USD 19 billion in 2020, according to the India Brand Equity Foundation Organization (IBEF), and is predicted to reach USD 25.9 billion by 2023. The significant increase in demand for virtual events as well as an increase in the number of people attending concerts and events will further propel the industry forward.

Major Challenges

• The key challenges to the global metaverse in entertainment market growth are the privacy and security concerns over metaverse. The metaverse collects and processes vast amounts of information about users and their environment. Metaverse can access the personal data of users and may pose a threat to their privacy. User privacy can also be threatened if hackers gain access to the user’s device. There are also privacy-related concerns associated with smart gears used in the metaverse, such as smart glass, VR headsets, etc, as these glasses automatically screen and process the user’s environment, violating the privacy of the user and those around them, which may challenge the market growth during the forecast period.

Metaverse In Entertainment Market – Segmentation Analysis:

The metaverse in the entertainment market report is segmented by End-user (Film production, Music labels, OTT platforms, Television broadcasters, and Others) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa).

• Regional Highlights –33% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for metaverse in entertainment in North America. Market growth in this region will be faster than the growth of the market in South America and MEA. The rapid convergence of the entertainment industry and traction of the gaming culture, as well as integration of gaming services into the service offerings of major entertainment brands and increased investment to create more immersive gaming and entertainment experiences, will facilitate the metaverse in entertainment market growth in North America over the forecast period.
• Revenue Generating Segment – The metaverse in entertainment market share growth by the film production segment will be significant for revenue generation. Physical barriers to film production will be removed, and access will be unrestricted in the metaverse. Pooja Entertainment, an Indian production company, has stated that it has purchased virtual land in the metaverse for its future productions, named Poojaverse. The trailer for a recently released film Radhe Shyam was uploaded in the metaverse and received positive feedback. Such factors will drive the market growth through this segment.

Grab a sample report for additional insights into the contribution of all the segments & regional opportunities

Metaverse In Entertainment Market – Vendor Analysis:

The metaverse in the entertainment market is concentrated and the vendors are deploying growth strategies such as technological innovation to compete in the market.

• • Aomen City
  • Epic Games Inc.
  • Hungama Digital Media Entertainment Pvt. Ltd.
  • Meta Platforms Inc.
  • Niantic Inc.
  • OverActive Media Corp.
  • Qualcomm Inc.
  • Queppelin
  • Roblox Corp
  • Tencent Holdings Ltd.
  • Tetavi Ltd.

Edited by: @MaiaDigital www.zonadeazar.com