2. Metaverse Market Potential

In a Statista (2023) report, they define the metaverse as the following:

The term metaverse refers to a virtual world or collection of virtual worlds that exist in a shared digital space and can be accessed by users through the internet. It typically includes virtual reality, augmented reality, and other immersive technologies. Its scope encompasses a wide range of possibilities and opportunities in education, entertainment, health and fitness, and even remote work, but it is commonly associated with eCommerce and gaming.

Statista (2023) highlights some key findings from its report as the following:

• The Metaverse market is projected to reach a value of C$140.7bn in 2025.

• This market is expected to grow at an annual growth rate (CAGR 2025-2030) of 37.43%, resulting in a projected market volume of C$672.7bn by 2030.

• In 2025, United States generates the most value in the Metaverse market, with a projected market volume of C$43.6bn.

• By 2030, the number of users in the Metaverse market is expected to reach 2.6bn users.

• The user penetration is predicted to be 17.4% in 2025 and is expected to increase to 39.7% by 2030.

• The average Value per user (ARPU) is projected to be C$125.0.

• The Metaverse market holds significant potential worldwide.

• The Metaverse market is booming worldwide, with countries like the United States, China, and Japan leading the way in terms of technological advancements and user adoption.