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The metaverse market will register a compound annual growth rate (CAGR) of 39.8% during the 2022-30 forecast period, driven by rapidly growing mergers and acquisitions (M&A) activity in the sector, says GlobalData, a leading data and analytics company.
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GlobalData’s latest report, “Metaverse Market Size, Share, Trends, Analysis and Forecasts, 2022-2030,” reveals that M&A deals have been transforming the metaverse industry over the past two years, spurred by the widespread move to remote and hybrid work.
Deepal Agarwal, Project Manager at GlobalData, comments: “There is a land grab going on for strong metaverse ecosystem partners and learnings. Telcos are, by and large, are keen to understand the lay of the land and invest in exploration with startups as potential partners. M&A activity is picking up, with access to technology being the key rationale for most of the deals. Providers of AR, VR, AI, and blockchain solutions are becoming prime targets as acquirers aim to develop novel experiences.”
In January 2022, NFT Investments announced the acquisition of Pluto Digital Assets, a crypto technology and venture company. In the same month, Microsoft acquired Activision Blizzard, a game publisher for its rich content library for a deal value exceeding $60,000. Also, in April 2022, Arogo Capital acquired EON Reality, a VR-based 3D meeting software provider in a deal worth $655 million.
Agarwal adds: “The collaborations among the technology companies are anticipated to provide exclusive opportunities for the metaverse market to grow.”
North America will continue to dominate the metaverse market share during the 2022-2030 period owing to the rising adoption of new technologies and the presence of major technology giants such as Nvidia, Meta, and Microsoft in the advanced economies of the region.
Agarwal concludes: “The metaverse market is expected to flourish at a rapid rate with more and more industry verticals focusing on launching innovative solutions and leveraging modern technologies. Industry verticals such as BFSI, Retail, Education, Media & Entertainment, Aerospace & Defense, Manufacturing, and others are expected to create sizeable shares in creating revenue opportunities throughout the decade. Furthermore, strategic partnerships in each of the industry verticals are likely to propel the adoption of metaverse further in the long run.”
