According to TechSci Research report, “United States Metaverse Market – By Region, Competition Forecast & Opportunities, 2018-2028,” The United States Metaverse Market is expected to register robust growth during the forecast period due to the increasing integration of digital and physical worlds, driven by rising internet penetration and the widespread adoption of smart devices across the country. Additionally, advancements and growing adoption of emerging technologies such as digital twins, AR & VR, the Internet of Things (IoT), and real-time analytics enabled by Artificial Intelligence (AI) will positively influence the market in the coming years. The extensive use of the metaverse across various sectors, including private organizations, government, media & entertainment, retail, healthcare, and education, is anticipated to act as a catalyst for the market’s growth.
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Furthermore, the United States is establishing a strong position on the global technology map through its robust economy and the rapid development of digital infrastructure. The country’s metaverse market is considered one of the fastest growing in North America, driven by substantial research and development investments across various industries. The demand from industries for metaverse adoption and technological advancements from suppliers is being met by a modern, digital-native technical workforce skilled in these fields, further propelling market growth.
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The metaverse market is segmented by component, platform, technology, application, end user, region, and competitive landscape. By component, the market is divided into hardware and software. Based on platform, it is segmented into desktop and mobile. The technology segment includes blockchain, Virtual Reality (VR) & Augmented Reality (AR), and Mixed Reality (MR). The application segment covers gaming, online shopping, content creation, social media, and others. By end user, the market is categorized into BFSI, retail, manufacturing, media & entertainment, education, aerospace & defense, and others.
In terms of application, gaming holds the largest share in the United States metaverse market and is expected to remain dominant during the forecast period. Prominent players such as Roblox Corporation, Unity Technologies, and Microsoft Corporation are increasingly relying on virtual reality-based three-dimensional gaming services to attract social interactions among Generation Z and Generation Alpha users. The realism and ongoing developments, including play-to-earn concepts in online gaming and rising investments in artificial intelligence and mixed reality, are key factors driving the demand for the metaverse in the gaming industry.
Regarding end users, the media and entertainment industry holds the largest share in the United States metaverse market and is expected to maintain its dominance during the forecast period. Multiple industry players are significantly adopting the metaverse, leveraging advancements in augmented reality (AR) and virtual reality (VR) within gaming and social media applications. These advancements allow media and entertainment companies to enhance efficiency and productivity by creating realistic virtual scenarios. The increasing use of advanced gaming technologies, rising income levels, and changing consumer entertainment preferences are further providing ample opportunities, elevating the industry to the next level
Key market players in the United States Metaverse Market are:
- Tencent Holdings Ltd.
- Nvidia Corporation
- Meta Platforms Inc.
- Roblox Corporation
- Microsoft Corporation
- ByteDance Ltd.
- Epic Games Inc.
- Unity Technologies Inc.
- Netease Inc.
- Nextech AR Solutions Inc.
Recent Developments
- On December 20, 2022, Meta Platforms Inc. announced plans to invest approximately 20% of its overall cost and expenses into Reality Labs in 2023, the division responsible for its augmented and virtual reality technologies. The company highlighted that the Meta Quest Pro is one of the foundational technologies enabling its vision for the future. Meta emphasized that 2022 marked a significant year for getting these technologies into the hands of developers and users for the first time.
Museum of Science, Boston, Enters the Metaverse with “Mission Mars” on Roblox
On December 13, 2022, the Museum of Science, Boston, launched its first immersive online educational experience on Roblox, titled “Mission Mars.” This global platform connects millions of people through immersive 3D experiences. The Museum aims to reach 100 million people in museums, classrooms, and online with top-quality STEM education content by 2030 through its entry into the metaverse.
Nvidia Corporation Introduces H100 AI Processor and RTX A5500
On March 22, 2022, Nvidia Corporation announced the H100 AI processor and the RTX A5500, a new addition to its Ampere series of graphics cards. These innovations support training artificial intelligence systems to perform tasks like translating human speech and provide professionals with the graphic power needed for 3D tasks such as animation, product design, and visual data processing. Nvidia aims to expand its Omniverse efforts, selling the tools and cloud computing services necessary to build 3D realms known as the metaverse.
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“Ongoing advancements in blockchain enabled decentralization approach that will lead to a breakdown barrier between providers is boosting the United States Metaverse Market in the forecast years. The extensive need for the transparency, security, trust and the traceability of the data for a business network for non-fungible tokens for digital assets purchase is a boosting factor for the market across the United States. Moreover, supportive government policies for metaverse services all over the globe with emerging technologies has also been positively influencing the market with a continuous urge for launching new service plans and platforms in the upcoming years.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Metaverse Market By Component (Hardware and Software), By Platform (Desktop and Mobile), By Technology (Blockchain, Virtual Reality (VR) & Augmented Reality (AR) and Mixed Reality (MR)), By Application (Gaming, Online Shopping, Content Creation, Social Media and Others), By End User (BFSI, Retail, Manufacturing, Media & Entertainment, Education, Aerospace & Defense and Others), By Region, Competition Forecast & Opportunities,” has evaluated the future growth potential of United States Metaverse market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States metaverse market.
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