Metaverse means "beyond the universe” and was introduced to us by authors like Neal Stephenson in "Snow Crash," Ernest Cline in "Ready Player One," and William Gibson in "Neuromancer.".
As the idea became bigger with increasing investment and development, it now plays an important role in the digital world, from education to gaming. Gamers use virtual reality (VR) game engines to provide a 3D immersive experience in the metaverse.
However, while some embrace it, others feel there are risks to the metaverse, including potential addiction. Let's look at some relevant numbers that shed light on this new, big digital realm.
Latest and most fascinating metaverse statistics
Non-fungible tokens (NFTs), augmented reality (AR), VR, virtual socialization, and digital economies remain notable trends in the metaverse for 2023 and beyond. According to a BBC report, companies and individuals have invested over $2 billion in the metaverse, evidence of growing interest in this virtual realm.
Similarly, Forbes identifies metaverse as a pivotal trend for 2023 among its top ten. The statistics below echo this.
Meta Reality Labs has funneled a staggering $10 billion into metaverse development.
Goldman Sachs, a global financial titan, sees the metaverse as a potential goldmine, estimating its value at a massive $8 trillion. This sentiment is echoed by numerous industry experts who predict significant growth in its valuation.
Marketing in the metaverse is growing. AB InBev's collaboration with Zed Run to market, breed, and sell NFT horses supports this. Once valued at $30, these NFTs now command prices as high as $165,000.
In January 2023 alone, the term "metaverse" was searched roughly 1.9 million times globally.
The metaverse community champions the prohibition of themes like suicide, animal abuse, hate discourse, and online harassment. Interestingly, under 50% of survey participants felt that content related to drugs and alcohol should be restricted.
A metaverse user survey highlighted three primary benefits: the thrill of tackling real-time challenges (39%), fostering creativity and imaginative thinking (37%), and digitally touring the globe (37%).
By the time 2030 rolls around, the global metaverse market could be worth a whopping $936.57 billion.
of US adults are unfamiliar with the term "metaverse."
An impressive 68% of tech pundits are betting on the metaverse to make significant waves in the next half-decade.
The tech and IT realm accounts for 17% of all metaverse-related investments.
The niche of virtual fitting rooms in retail is predicted to soar from $4.03 billion in 2022 to $13 billion in 2028.
The extended reality sector's market cap was valued at $92.88 billion in 2022. It’s projected to touch $252 billion by 2028.
Roblox continues to reign as the metaverse's premier game, boasting 55 million daily active enthusiasts.
60% of gamers have turned to the metaverse for activities beyond gaming, such as virtual socialization and e-shopping.
Over 50% of online users harbor concerns about their data security within the metaverse.
In a survey of 1,000 people, nearly half view potential addiction as the most alarming risk linked to the metaverse.
Metaverse technology statistics
On the technology side, augmented and virtual reality sectors have seen significant investments over the past few years. Sectors such as VR headsets and mobile AR are predicted to become a multi-billion dollar market in the foreseeable future. The statistics below tell about the growth of metaverse tech and people’s preferences regarding the same.
Investment in VR/AR, which forms the bedrock of the metaverse, is anticipated to swell from $12 billion in 2020 to an impressive $72.8 billion by 2024. Consequently, frontrunners across sectors like gaming, retail, arts, healthcare, and blockchain are strategizing to establish their presence in this domain.
The collective market for AR, VR, and mixed reality (MR) is poised to have a $250 billion valuation by 2028.
Revenue from metaverse AR & VR devices is pegged at around US$1.17 billion for 2023. Between 2023 and 2030, the sector could witness an annual growth rate of 15.36%.
Forecasts suggest that AR and VR headset shipments could reach 23.22 million in 2023, 32.76 million in 2024, and a potential 43.87 million by 2025.
of US adults feel more affordable VR headsets are vital in propelling metaverse adoption.
The AR and VR market revenue projection is $31.12 billion in 2023, escalating to $52.05 billion by 2027.
By 2024, the global tally of VR headset installations will likely exceed 34 million.
Europe's VR/AR market is on an upward trajectory, estimated to soar from $2.8 billion in 2021 to $20.9 billion in 2025.
The holistic market for extended reality (XR) - a fusion of AR, VR, and MR - is predicted to achieve a valuation of $100 billion by 2026.
Mobile AR users worldwide are set to increase exponentially, from 200 million in 2015 to a staggering 1.7 billion by 2024.
66% of respondents believe XR will revolutionize virtual learning.
53% of consumers are open to shelling out over $300 on entry-level VR headsets and accompanying controllers.
Global sales of XR headsets are on course to triple by 2025.
Metaverse usage statistics
People use the metaverse differently. Some use it to play games, while others leverage its capabilities to socialize virtually. The statistics below cover the many other reasons people love to use the metaverse.
Every month, the metaverse attracts over 400 million active participants, a significant portion being young teens. Platforms like Roblox, Fortnite, and Minecraft are particularly favored by those aged 12-13.
Research suggests that businesses delving into the metaverse primarily target large corporations, males, and the Gen Z demographic. They slightly prioritize men (11.3%) over women (8.6%) and find larger enterprises three times as attractive as small to medium-sized businesses.
Data regarding Roblox indicates a global daily active user base of 58.8 million, marking an increase from the earlier peak of 52.2 million.
of individuals between 16 and 44 are acquainted with AR technology, even though it's relatively new. Its adoption mirrors the rise of online shopping.
The valuation of virtual art galleries has touched $2.4 billion, with projections of further growth in 2023. Given the surge in NFTs and virtual reality interest, artists are increasingly leaning into this digital medium. This allows art enthusiasts to indulge in immersive experiences from the comfort of their homes, minus the hassle of maintaining physical artwork.
A whopping 400 million people globally engage with the metaverse regularly.
Over a quarter of worldwide consumers are keen to explore virtual experiences.
NordVPN and Propeller Insights state that 25% of American adults contemplate the metaverse as a potential successor to traditional social media platforms.
39% of American adults believe the metaverse can facilitate experiences otherwise inaccessible to them in the physical realm.
Metaverse gaming and event statistics
Prominent stars like Ariana Grande, Travis Scott, and Post Malone have taken center stage in the metaverse, showcasing the platform's entertainment potential. 2023 is seeing a surge in metaverse events from Seoul to Las Vegas.
Moreover, the first-ever Metaverse Beauty Week in June 2023, hosted by CULT, bridged virtual and physical realms, with the spotlight on top beauty brands in London and online platforms. Cult’s team is working in partnership with global beauty brands and connecting them with digital designers. The statistics below showcase people’s preference for metaverse for events and gaming.
Fortnite's event featuring Galactus attracted a staggering 15.3 million gamers and witnessed 3.4 million viewers across platforms like YouTube Gaming and Twitch.
Topping the list of most attended Metaverse concerts are Travis Scott with 45.8 million viewers, Lil Nas X at 37 million, Ariana Grande with 27 million, 24KGoldn drawing 14.6 million, and 21 Pilots pulling in 13.4 million attendees.
of metaverse gamers are males, boasting an average age of 27 – notably younger than the broader gaming demographic.
Metaverse music events found the highest traction among millennials: 32% showed moderate enthusiasm, while 29% were extremely keen. Gen Z had mixed reactions, with 32% slightly intrigued and 30% expressing disinterest. The interest dwindled significantly among the baby boomer demographic.
The metaverse gaming sector is predicted to expand at a 38.2% CAGR, escalating from $36.81 billion in 2022 to an impressive $710.21 billion by 2027.
An estimated 60% of gaming enthusiasts have ventured into the metaverse for virtual activities outside traditional gaming.
Concerns and risks associated with metaverse: key statistics
Although it has several benefits and use cases, metaverse does raise eyebrows if you mention security and privacy. Many people are concerned about their mental health and its addictive nature. Others have expressed their thoughts on personal data privacy within the metaverse. Let’s explore key statistics highlighting common concerns and risks related to the metaverse.
There's a rising concern, with 41% of users feeling that metaverse usage may lead to mental health issues.
Privacy remains a primary concern, with 41% of users anticipating breaches.
A significant 77% believe the metaverse might adversely affect real-world interactions.
46% of users expect that within a decade, they might lean toward living primarily in the metaverse.
of online users express concerns about data security within the metaverse.
Imagine watching a soccer game with complete immersion or reliving historical events visually. These aren’t just fantasies anymore; they’re realities in the making.
The metaverse is rapidly becoming popular, and the statistics above suggest that it is poised for monumental growth in 2023 and beyond. Gaming and e-commerce will thrive, and virtual real estate and music events will gain traction.
The next phase of the metaverse will likely be driven by marketing and advertising. Many brands have recognized its potential and are laying the foundation for their virtual presence.
While still in its early stages of development, the possibilities of the metaverse are endless when applied to how we work, live, and play.
Sagar Joshi is a former content marketing specialist at G2 in India. He is an engineer with a keen interest in data analytics and cybersecurity. He writes about topics related to them. You can find him reading books, learning a new language, or playing pool in his free time.
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52 Metaverse Statistics That Will Shape Our Virtual WorldExplore these metaverse statistics to discover trends in metaverse technology and usage. Learn more about its risk and what concerns people the most.https://learn.g2.com/metaverse-statisticshttps://learn.g2.com/hubfs/G2CM_FI721_Learn_Articles_Images-%5Bmetaverse_statistics%5D_V1a.png2023-09-25 15:49:01Z
Sagar JoshiSagar Joshi is a former content marketing specialist at G2 in India. He is an engineer with a keen interest in data analytics and cybersecurity. He writes about topics related to them. You can find him reading books, learning a new language, or playing pool in his free time.https://learn.g2.com/author/sagar-joshihttps://learn.g2.com/hubfs/Sagar%20JoshiUpdated.jpeghttps://www.linkedin.com/in/sagarjoshi9/
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