Meta Insights: Statistics & Industry Outlook For Metaverse In 2023

The Metaverse is something you’ve probably heard of already – it’s all anybody seems to be talking about right now. With a predicted market size of $800 billion by 2024, it’s slated to become the next new thing in technology. The more you know about the Metaverse, the more you can be prepared – and from a marketing point of view, it can’t hurt either. Let’s take a look at the most important Metaverse statistics, facts, and trends for 2023.

Key Metaverse Statistics 2023 

• The Metaverse market size is predicted to reach as much as $800 billion by 2024 
• JP Morgan predicts the market size will be worth $1 trillion (no time frame given) 
• Goldman Sachs predicts the market size will be worth $1-12 trillion (no time frame given) 
• The Metaverse market was worth $46 billion in 2020 
• $10 billion has been invested in the Metaverse by Meta’s Reality Labs segment 
• 10,000 jobs will be created over a five-year period 
• The science fiction novel ‘Snow Crash’ coined the “Metaverse” phrase in 1992 
• It is a combination of virtual reality and augmented reality 
• It is considered the ‘future’ by Meta (Facebook) and many others 
• The word ‘Metaverse’ means ‘beyond the universe’

More Metaverse Statistics 2023

1. Metaverse is a combination of ‘meta’ and ‘verse’, which mean ‘beyond’ and ‘universe’ respectively.
2. NFTs saw an increase of $2.5 billion during the pandemic’s peak
3. According to a study, most streamers and gamers friends aren’t that different from their real-life friends. This implies that people prefer online friends who are like them in the real world.
4. Epic Games raised $1 billion to accelerate the long-term vision of the Metaverse
5. Decentraland raised $24 million ahead of its release in February of 2020
6. North America holds the largest share of the Metaverse market
7. A number of important tech companies see the Metaverse as an opportunity to expand their reach
8. The hardware segment dominates the Metaverse industry
9. VR gear sales are set to hit $10 billion in 2022
10. Global shipments for VR and AR are set to reach 76 million in 2024
11. AR and VR headsets will be sold to the tune of 26 million units by 2023
12. By 2024, there will be over 34 million VR headsets installed around the world
13. The VR market in Europe will grow to $20.9 billion in 2025
14. By 2022, there will be 1.1 billion people using mobile AR
15. There are expected to be 1.7 billion AR users on mobile in 2024

Catch up the more Metaverse Statistics - 2023 from the originally published article: EARTHWEB

Metaverse Market Size 2023 & Industry Growth Predictions

There are many people that are interested in the Metaverse size, as it is seen as the next big thing in the world of technology. There are growth predictions based on current Metaverse statistics and data out there that show that the Metaverse could reach the $800 billion mark by 2024, as it is already sitting at the $47 billion mark thanks to a surge of interest in 2020 when the pandemic peaked. There are even some out there that believe that it is worth more right now – $500 billion, to be exact, according to Bloomberg, which makes $47 billion look like chump change. 

Beyond the $800 billion predictions, some think that Metaverse could reach $1 trillion in annual revenue, according to a report by Grayscale. And then there are the highly respected JP Morgan and Goldman Sachs throwing around figures of $1-12 trillion. This is thanks to some early predictions of where the Metaverse is headed, for example, there have been sections of virtual land being sold for more than $2 million. Right now, there is a heavy emphasis on the Metaverse being prudent for gaming, but it is set to expand. Predictions lie with the Metaverse growing in the gaming world to become a $400 billion-dollar business by 2025, with some experts saying it was sitting at around $180 billion in 2020.