The global Metaverse games market is expected to reach $563.8 billion by 2032, growing at a CAGR (compound annual growth rate) of 38.6%. The Metaverse is changing the rules of the game in the technology branch by enabling users to play games, interact and participate in virtual events.

• The size of the global Metaverse gaming market is expected to reach 563.8 billion USD at a CAGR of 38.6% by 2032.
• Due to investments, government regulations and a booming gaming industry, the Asia and Pacific region would be the leader of the global market in 2022.
• The growing acceptance of blockchain based technologies, such as cryptocurrencies and non-fungible tokens (NFTs), is expected to have a positive impact on the development of the Metaverse in the gaming sector.

On 27 September 2023, a report created by DataHorizzon Research titled: „Metaverse in terms of Games market size, trends, growth, share, statistical analysis report, by component (hardware, software and services), by game type, by industry, by region and segment forecast, for 2023-2032″.

According to a study by DataHorizzon Research, the gaming Metaverse market reached $21.6 billion in 2022, and forecasts for 2032 indicate $563.8 billion, an impressive 38.6 per cent annual growth. The paper conducts an in-depth analysis of the capabilities of the global Metaverse market and draws important conclusions. After analysing the current state and future development of the industry, practical market insights are provided.

The Metaverse, as a fascinating virtual environment, is based on the latest technological developments such as  augmented reality (AR), virtual reality (VR) and mixed reality (MR). Users of this platform are able to participate in games, transact, socialise, trade virtual real estate, access a rich library of digital content and attend virtual events. This provides an unparalleled digital experience. The Metaverse has the potential to completely transform our interaction with the digital world and is a true technological breakthrough.

Presenting an all-encompassing and customisable experience, the Metaverse concept is revolutionising the world of gaming, taking entertainment to the next level. Through the use of AR and VR technologies, players can completely immerse themselves in the gameplay. Additionally, the platform offers a social aspect, allowing users to interact and play in a virtual world. Social gaming in Metaverse is gaining popularity as it encourages players to actively participate both in and out of the game. The Metaverse is becoming a revolutionary breakthrough in the gaming world, providing a unique and engaging experience for players.

Leading companies in the gaming and digital technology industries are investing huge resources in developing their own Metaverse. The growing investment in Metaverse  technology is primarily due to its huge marketing opportunities for a variety of products. In addition, demand for games in the Metaverse is predicted to increase with the growing popularity of AR and VR heads. The growing acceptance of blockchain based technologies, such as cryptocurrencies and non-exchangeable tokens, will also contribute to further expansion of the Metaverse in the gaming sector.

Against the backdrop of the growing popularity of and Metaverse in the games industry, market players now have many options to choose from. The Metaverse, i.e. the virtual worlds available in different games, offer interoperability which enables smooth transitions between different platform sand applications. This interoperability provides not only greater visibility across multiple platforms, but also extends the reach of the brand and provides a seamless experience for customers. It also means that the company’s offering is widely available in the virtual world. What’s more, it supports the creation of innovative connections between consumers and companies, which contributes to expanding the organisation’s audience. Users are able to move freely between different worlds in the Metaverse and store their digital assets and avatars.

Summary of the report

Key features of segmentation

The Metaverse gaming market is segmented based on components, game types and location.

The largest market share is enjoyed by the software segment. Within this category, software augmented reality dominates in terms of market share. Game engines are forecast to continue to grow rapidly as they underpin virtual worlds and enable the creation of advanced VR and AR applications. Large companies are using both open source engines such as Godot, Blender and Open 3D Engine (O3DE) and established game engines such as Unreal Engine and Unity to create Metaverse-compatible games, accelerating the growth of this market.

Due to its significant market share, strategy games are at the forefront of the entire gaming industry Metaverse. This is a fascinating type of game that explains the growing popularity of the Metaverse, as it requires players to develop and implement strategies to progress. Games such as Axes Metaverse, Fortnite, Axie Infinity and many others are often played in the Metaverse.

Against the backdrop of investment, government regulation and a booming gaming industry, the Asia and Pacific region was the leader in the global market in 2022.The Japanese government announced its plans to invest in non-convertible tokens (NFTs) and Metaverse services in January 2023, while the South Korean government announced the creation of a virtual version of its capital to improve public services.

Significant changes in the Metaverse gaming market

To introduce unique experiences based on The Sandbox Metaverse intellectual properties, The Sandbox has partnered with TOEI ANIMATION and Minto, Inc. TOEI ANIMATION, a renowned Japanese animation vertical, is known for creating iconic series such as ,,DRAGON BALL”, ,,SAILORMOON” and ,,ONE PIECE”.

Using advanced generative artificial intelligence, Nextech3D.AI provides detailed  3D models. Hareesh Achi has been appointed as head of product operations at the company. Hareesh, who spent more than a decade at Microsoft and META, aims to increase Nextech3D.AI’s productivity and profitability by optimising operations.

Summary of key information from the report

The Metaverse gaming market is forecast to grow at an annual growth rate of 38.6 per cent through to 2032, reaching $563.8 billion. The Metaverse is an immersive virtual environment, which delivers personalised gaming experiences using AR and VR technology. Users can participate in virtual events, trade virtual properties and network. Market participants can benefit from the growing demand for blockchain and AR/VR based technologies. Companies can reach a wider audience and increase brand awareness through interoperability.

In the software segment, augmented reality software accounts for the largest market share. Advanced VR applications and AR use game engines such as Unreal Engine and Unity, which are forecast to continue to grow rapidly. The genre of strategy games dominates the market for Metaverse games and is growing in popularity due to its compelling nature.

The Asia and Pacific region, backed by government investment and a booming games industry, has taken a leading position in the global market in 2022. The Japanese government is investing in NFT and Metaverse services, while South Korea plans to open a virtual version of its capital in January 2023.

Some of the major players in the global Metaverse in gaming market are: Meta, Activision Blizzard, Netease, Electronic Arts, Take-Two, Tencent, Nexon, Epic Games, Unity, Valve, Accenture, Adobe, HPE, Deloitte, Ansys, Autodesk Inc, Intel, Tech Mahindra, ByteDance, Nvidia, Microsoft, Samsung, Google, Sony, HTC, Seiko Epson, Apple, Qualcomm, Panasonic, AEON Reality, Roblox, Lenovo, Razer, Nextech AR Solutions, ZQGame, TaleCraft, VRChat, Decentraland, Somnium Space, Sandbox.