The metaverse market will power at a rate of 43.7% by the end of this decade, to reach USD 1,525.7 billion by 2030. This is because of the increasing demand for metaverse for purchasing digital assets with the use of cryptocurrencies, as stated by a market research institution, P&S Intelligence.
The software category will grow the fastest in the years to come. This is because of the growing requirement for AR/VR mobile app and web app development tools, SDK, AR/VR studios, and cloud-based tools.
As a result of the initiation of avatar identity creators, decentralized and centralized gateways, and play-to earn games, the need for software for metaverse platforms is growing at the highest rate.
The metaverse market in the APAC will record the highest rate, of over 50%, by the end of this decade, because of the growing usage of AR/VR and the budding digitization in India, Japan, China, and South Korea. While, North America was the market leader in the years gone by.
This is because of the growing use of smartphones, increasing requirement for AR/VR in a number of applications, and growing acceptance of smart devices. Also, augmented corporate and individual outlay on digital solutions and novel technologies powers the growth of the market.
The gaming category dominated the industry with the largest share of about 35%. The increasing trend of VR games in the industry is helping to surge the suitability of 3D and smart glasses.
Education category will grow the fastest, with a rate of 50%, in the years to come. Both programmers and users can modify it by building anything from a virtual sporting ground to a metaverse organization.
A teacher can clarify scientific discoveries to students while also bestowing them in an appealing 3D environment. Education specialists can construct virtual landscapes with the use of their lesson plans.
The healthcare sector will grow at a rate of over 35%, by the end of this decade. Factors like the increasing pool of patients around the globe, the rising requirement for enhancing patient consequences, and tech advances in the healthcare industry will propel the industry growth in the years to come.
For example, in December 2021, DHealth introduced a decentralized metaverse that takes a lot of doctors and patients to a novel world where they can cooperate, communicate in full 3D, and get virtual assets with the sales of their anonymized medical data.
It is because of the growing requirement for metaverse in the gaming and entertainment, and the growing usage of metaverse for buying digital assets, the industry will continue to increase in the years to come, at a global level.
