Grand View Research, Inc. A working report by The Global Metaverse estimates that the global metaverse market is planned to raise US$678.8 billion by 2030.
Software-based metaverse products have gained phenomenal adoption owing to the growing need for cloud-based AR and VR solutions as well as the increasing need for centralized and decentralized gateways.
Increasing demand for blockchain, cryptocurrency, and NFTs has supplemented the use of metaverse to design their platform along with decentralized systems.
The Asia Pacific region is slated to witness a robust growth rate over the period in focus due to the rapid expansion in the regional gaming sector along with the presence of many start-ups such as Bolly Heroes, OneRare, and LOKA.
The metaverse software market is led by extended reality software solutions. The relatively high share is linked to surging demand for AR and VR web app development solutions, AR and VR mobile application development solutions, AR and VR studios, cloud-based solutions, and software development kits. Additionally, 3D mapping, modeling, and reconstruction tools, and volumetric video tools are essential tools for designing virtual worlds and games on the metaverse platform.
