Check-Out-Metaverse-Adoption-Statistics-2022

We can see the metaverse market growth due to the continued use of XR technologies to improve user experience across platforms. Several factors are likely to affect the industry, starting with the growing desire for the metaverse to purchase digital assets with digital currency. Grand View Research, Inc. predicts that by 2030, the worldwide metaverse industry will reach USD 678.8 billion. Over the projection period, the expectation from the market will be to develop at a CAGR of 39.4 percent, owing to rising demand from end-use industries such as media and entertainment, education, and aerospace and defense. The development and distribution of Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) devices can drive metaverse market growth in the upcoming years. Metaverse’s Market Overview The metaverse is a digital universe that combines physical, augmented, and virtual realities. Virtual Reality (VR), Augmented Reality (AR), Extended Reality (XR), which integrates real and virtual surroundings, and Artificial Intelligence (AI) are the leading technologies that are driving the development of an efficient metaverse ecosystem. The rising popularity of Mixed Reality (MR) interfaces that integrate real and virtual settings and developments in the XR environment will propel market expansion. There have been security concerns about VR applications that collect body-tracking data metrics. Systems like eye-tracking, faci...