Global Metaverse Market Size Is Projected To Reach USD 28 Billion By 2028: Report

A new report suggests that the global metaverse market size will reach USD 28 Billion by 2028, from 510 USD Million in 2022. The segment is expected to grow at a CAGR of 95% between 2022-2028.

According to the Global Metaverse Industry Report by Valuates Reports, the growth of metaverse will be driven by increasing application in Games, Social conferences, Content Creation, Education, and Industrial sectors are expected to drive the growth of the metaverse market.

“Metaverse offers communication innovations, new branding opportunities, and assistance in developing and promoting a virtual economy to businesses and educational institutions. These factors are expected to accelerate the metaverse market's growth”, said the report.

The report especially zeroed-in on gaming as one of the most popular metaverse applications. It further said that metaverse’s growth will be augmented by the expansion of it in the social media platforms.

The desktop market will be most profitable in the 2022-2028 period, according to the report. This will be backed by the rise in video game revenues and the number of people who play video game worldwide.