Metaverse Statistics and Predictions: Prepare for the Future
Metaverse has recently been named one of the top new trends in technology. With an increasing number of users, the Metaverse is on track to have 50% of the world’s population become residents of the Metaverse. It is also estimated to reach $800 billion by 2028. In the following article, we have compiled a list of all relevant statistics regarding the Metaverse that will help you understand the world of the Metaverse and its operations.
Table of Contents
Metaverse Applications Insights
Gaming and social platforms seem like the only fields where customers can spend time in the Metaverse. However, this technology can go much further:
- Office applications allow employees and other users to engage in remote work in a new way thanks to VR headsets and other technology;
- A business or real estate company can significantly benefit from Metaverse by showing properties data to prospective buyers in-real time;
- Entertainment applications, like sports events or concerts, will use Metaverse devices to provide a more immersive experience.
The Metaverse in Numbers
- 91% of enterprises have already implemented or will implement virtual or augmented reality technologies in the near future.
- 56% of influencers are currently involved in the Metaverse.
- Over 160 companies are currently building the Metaverse. The top players are Axie Infinity, Meta (Facebook Inc.), Unity, Microsoft Corporation (U.S.), Roblox Corporation Epic Games, Nvidia, Decentraland and The Sandbox.
- $36+ billion is the amount that Meta intends to spend on developing VR software and hardware.
- Even though the Metaverse is gaining momentum, it remains a mystery to many people, with only 38% of adults in the United States saying they’ve heard of the project.
Key Metaverse Statistics and Highlights
The latest stats on the Metaverse division of companies give us powerful insights into what to expect regarding this new concept:
- Thousands of new vacancies will appear as a direct result of Metaverse projects.
- Sony, Microsoft, and major game developers are investing billions in the Metaverse.
- The population of the world is slowly but steadily adopting the hardware required for the Metaverse due to the constant standardization of components.
Metaverse Users Statistics
Over the last few years, the number of metaverse users has increased significantly. Every year, the Metaverse attracts many people to fulfill their imaginations, play games, as well as try unrealistic experiences.
- It is estimated that 25% of people will spend up to one hour a day in the Metaverse.
- 27% of female and 39% of male users are interested in the Metaverse.
- Metaverse users aged 13 and under make up 51%.
- In 2022, Metaverse reached 400 million monthly active users, an all-time high.
- Users who can legally register on a blockchain virtual world account for only 13.2% of active monthly Metaverse users.
- 25% of people by 2026 will spend an hour or more per day in the Metaverse.
- 52% of users around the globe are interested in joining the Metaverse for work-related opportunities.
The main reasons for joining the Metaverse, for most users, are:
- 48% of users join the Metaverse for arts and entertainment.
- 44% of users will join Metaverse to invest in cryptocurrencies and NFTs.
- 38% of the users are interested in trying extreme sports such as bungee jumping, skydiving, and paragliding in the Metaverse.
- 27% of adults want to change their consciousness in the Metaverse instead of using alcohol and drugs.
- 59% of Metaverse players are male, and 38% are 10 and 20 years old.
According to Newzoo, 59% of the gamers in the Metaverse are male, and 41% are female. Moreover, 38% of Metaverse players are between the ages of 10 and 20, and 36% of Metaverse gamers are between the ages of 21 and 35. Finally, 26% are between the ages of 36 and 60.
Metaverse Market Size: Current and Future Projections
- Companies in the Web 2.0 metaverse have a market capitalization of $14.8 trillion.
Traditional web2 companies, including Meta, Nvidia, and Roblox, still make up the majority of the new sector with a combined market capitalization of nearly $15 trillion in 2021, eclipsing the web3 metaverse companies ($30 billion market cap) by 493 times. Even eSports games ($1.98 trillion) are no match for them.
As valuable as market cap data is, it shouldn’t be the only indicator to look at. Companies are usually valued many times over by their annual earnings, which can make them more visible than their actual cash flows. It is also essential to consider the revenue as well.
- In 2022, the Metaverse’s global revenue will reach $47.48 billion.
The Metaverse market was $47.48 billion in 2022, in contrast to $22 billion in 2021. According to Statista, by the most conservative estimates, revenue is expected to grow to 678.80 billion US dollars by 2030.
- Bloomberg predicts that the Metaverse market will be worth $800 billion by 2024
After analyzing data from Bloomberg, Newzoo, IDC, PWC, and Two Circles, global revenue from companies using the Metaverse could reach $800 billion by 2024, with more than half of this amount likely to come from game developers and gaming hardware manufacturers, while the rest will be earned through live entertainment and social media platforms.
Metaverse Asset Sales
- The largest one-time purchase of virtual land is $5 million.
However, the largest single digital land purchase was made in a lesser-known metaverse called TCG World, where financial publishing company Curzio Research spent a whopping $5 million.
(Source: TCG World)
- A digital Gucci bag was sold for $4,115 in the Metaverse, which is more than its actual price.
When the Italian House held its virtual Gucci Garden show in May 2021, its digital Gucci bag sold for $4,115, while its current real-life counterpart costs just $2,980.
- The global AR and VR market was estimated at $21.83 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 15.0% between 2022 and 2030.
The hardware sector has the greatest market share worldwide metaverse industry as of 2022. This includes companies that manufacture consumer equipment such as AR and VR headsets, extended reality hardware, displays, cameras, sensors, tracking systems, etc.
It also seems that AR will dominate VR due to three aspects: accessibility, cost, and safety.
- By 2023, AR and VR headwear shipments will reach 26 million units per year.
The number of AR and VR devices to ship globally is expected to reach 14.29 million units in 2022, up from 9.86 million in 2021. They are predicted to sell more than 26 million units annually in 2023, almost double what they did in 2022.
- In 2022, there will be approximately 165.6 million virtual and augmented reality users in the US
Of the projected 165.6 million VR/AR users this year, AR accounts for the majority, with around 101.6 million users, while VR accounts for only 64 million. This is due to the availability of AR features in mobile phones.
- The number of VR and AR users in the US is projected to rise to 176 million by 2023
AR users will still own the majority, predicted to reach 110.1 million, while VR users will only be 65.9 million.
- As of 2022, there are 1.4 billion augmented reality users in the world
Statistics show that there will be 1.4 billion users of augmented reality devices, including not only augmented reality wearables but also mobile phones with AR capabilities. This figure is expected to increase to 1.73 billion by 2024.
- The global VR, AR, and MR market will be worth $30.7 billion in 2022
MR (mixed reality) is a fancy term for combining AR and physical spaces. As of 2022, the global AR, MR, and VR industry is worth $30.7 billion. As advanced metaverses develop, this figure is expected to increase rapidly over the next five years.
Pioneers of the Metaverse
- Microsoft will become the world’s largest Metaverse company
With a market capitalization of $1.9 trillion, Microsoft is the world’s largest company with metaverse-related business models (also the third-largest overall). The computer software and technology giant has officially announced its pivot after announcing its acquisition of a legendary gaming company. Activision Blizzard. Other big companies are Nvidia and Unity.
- Nike is one of the most active brands in the Metaverse.
Nike partnered with Roblox to launch a metaverse gaming platform called Nikelnad. The company then filed seven trademark applications in preparation for selling branded digital sneakers and apparel. In addition, it acquired a promising virtual sneaker known as RTFKT. Thus, this is just the beginning of the shoe titan.
- Snoop Dogg and Paris Hilton are two of the biggest celebrities doing big things in the Metaverse.
As we speak, a few dozen superstars are exploring the Metaverse, but not all of them are as involved as the headlines make them out to be. However, Snoop Dogg bought virtual real estate in The Sandbox and recreated his real-life villa. He also partnered with the metaverse platform to launch his avatar collection. Snoop is also the proud owner of Bored Ape and rarely hosts concerts exclusively for the BAYC community along with fellow holder Eminem.
Meanwhile, Paris Hilton proclaimed herself the “Queen of the Metaverse” a few months after the launch of Paris World, her Metaverse built on the Roblox. But, unlike most celebrities, she didn’t just jump on the web bandwagon, as her industry debut began in 2015 when she partnered with Animoca Brands to launch a line of digital wearables.
According to the Accenture Tech Vision 2022 report, 71% of global leaders say that the Metaverse can positively impact their organization, 42% of whom believe it will be a breakthrough. About 28% believe that the Metaverse will have little to no impact.
- 74% of American adults are considering joining the Metaverse
41% of respondents interested in the Metaverse said their main motivation is the opportunity to experience what they cannot do in physical reality.
- 16% of American adults “strongly agree” that life in the Metaverse would be more interesting than in real life
According to Insider Intelligence’s January 2022 “The Metaverse” report, 16% of American adults strongly agree, and 21% partially agree that life in the Metaverse would be more fun than reality. Furthermore, 27% agree that the Metaverse will become as popular as traditional social media platforms.
(Source: Insider Intelligence)
- By 2026, 25% of people will spend at least an hour a daily in the Metaverse
According to Gartner, Inc, by 2026, 25% of people will spend at least 1 hour daily in the Metaverse for work, education, shopping, social, and/or entertainment. It also states that 30% of organizations worldwide will have products and services for the Metaverse by then.
- In a survey of 1000 respondents, 52% said they would join the Metaverse to find a job
While 52% of the 1000 respondents want to join the Metaverse for work-related opportunities, 48% also look forward to arts and live entertainment. Moreover, 44% are interested in investing money in the Metaverse, 40% are also interested in education, and 32% are delighted with communication and online dating.
Surprisingly, only 29% use it for gaming. This suggests that the Metaverse has many interests outside of video games.
- More than one in four consumers worldwide are willing to attend virtual concerts
A survey conducted in February 2022 revealed that 28% of respondents worldwide are extremely interested in attending virtual concerts. In July 2020, Travis Scott’s metaverse concert on Fortnite drew a whopping 45 million viewers.
Dangers and Problems of Metaverse in Numbers
Metaverse has issues with risk, security, and privacy. Metaverse users are open to cybercrime threats, privacy issues, authenticity, etc. The headsets and smart glasses store a lot of personal information to personalize the experience.
- 47% of users are at high risk of addiction to simulated reality.
- 41% of users are at risk of mental illness.
- 41% of metaverse users are on the verge of dealing with privacy issues.
- 77% of users believe that the Metaverse can harm reality.
- 46% believe that people will prefer to live and coexist predominantly in the Metaverse in the next ten years.
- 18% of users believe Metaverse can lead to the unwanted display of prohibited content.
- 26% of people think that Metaverse will lead to an increase in cybercrime.
- Around 54% of respondents admitted that they would create an avatar in the Metaverse that doesn’t look like them in reality.
The Metaverse is the world’s future, combining virtual reality and artificial intelligence. The Metaverse is attracting more and more people because it helps you to witness events that are difficult to experience in the real world.
The next ten years will be a time of rapid growth and development. What we can be sure of is that the Metaverse will continue to amaze us with mind-blowing innovations and technological advances that will bring it even closer to unlocking its potential as a creative tool.