Technology research and advisory firm, Technavio, released a new study which predicts popularity and upside for the Metaverse to continue to increase in the next four years.
Titled “Metaverse Market in Finance by Component and Geography — Forecast and Analysis 2022–2026,” the report concentrates on two aspects, software and hardware, while it distinguishes the potential in the different geographical regions
The Technavio study predicts that the Metaverse will reach a market share value of $50.37 billion by the year 2026. Of this growth, 32% percent is expected to come from North America, led by the United States and Canada. Other key regions include Germany and China. The compound annual growth rate (CAGR) is projected at 21% yearly in this period. The CAGR figure displays the rate of return (RoR) that is needed for an investment to grow from its starting balance to ending.
The report highlights the potential for the hardware segment, which includes various types of AR and VR tools such headsets, smart glasses, and lenses that are connected with the metaverse.
It is without any doubt that the Metaverse is at the center of many firms’ strategy for the next decade. Mark Zuckerberg’s Meta happily records losses of $10 billion a year believing it’s the right price to pay for what will eventually earn them trillions.
Emerging as a global crypto hotspot, the United Arab Emirates recently launched its Dubai Metaverse Strategy with its ambitions of becoming a leading Metaverse economy and creating 40,000 jobs.
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Source: Igaming
