GVR Report cover Metaverse In Gaming Market Size, Share & Trends Report

Metaverse In Gaming Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Genre (Action, Adventure), By Technology, By Age Group, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-137-8
  • Number of Report Pages: 170
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Metaverse In Gaming Market Size & Trends

The global metaverse in gaming market size was estimated at USD 17.71 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 40.4% from 2023 to 2030.The metaverse's growth within the gaming market has been largely driven by increased investments in the integration of digital and physical era through internet connectivity, a strong development drive in technologies like mixed reality, augmented reality, extended reality, and virtual reality, and substantial investments in the creation of innovative metaverse applications. Non-fungible tokens (NFTs) have emerged as a driving factor behind the growth of the market. These digital assets are revolutionizing the model of ownership within virtual environments. Gamers can own and trade in-game items, characters, skins, and virtual real estate as NFTs. NFTs also promote interoperability, enabling gamers to use their acquired assets seamlessly across different games and platforms within the metaverse, which is augmenting the robust growth of the market.

U.S. Metaverse In Gaming Market size and growth rate, 2023 - 2030

Key organizations are continuously working on the development of the metaverse in gaming industry by strategically collaborating with other market players, which is expected to enhance the end-use experience. For instance, in September 2022, Hadean Supercomputing Ltd., a UK-based spatial computing startup, raised an investment of USD 30 million from Epic Games, Inc. and TencentHoldings Ltd. With this investment, the organization developed the infrastructure of metaverse in gaming. Such collaborations by key market players are expected to boost the market expansion over the forecast period.

In addition, the integration of cloud computing into the metaverse is creating numerous growth opportunities. For instance, in March 2023, NVIDIA partnered with Microsoft and gave access to their enterprise users to robust industrial metaverse and AI supercomputing capabilities through cloud services. This partnership is benefiting hundreds of millions of users, which is expected to drive market growth consistently and create growth opportunities over the forecast period.

Component Insights

The hardware component segment accounted for the largest market share of over 43.0% in 2022. The hardware segment is further segmented into VR headset, AR headset, MR headset, and display, among others. The growth of the segment is attributed to the increasing demand for Augmented Reality (AR) and Virtual Reality (VR) devices as these devices are essential for providing the immersive and interactive experiences that are the prominent part of the metaverse in gaming. As the cost and availability of these devices continue to improve, more and more gamers are expected to adopt them, which is expected to drive the segment growth over the forecast period.

The services component segment is expected to register the fastest CAGR of around 41.0% over the forecast period due to the growing demand for metaverse development services such as game development, designing, and asset creation. In addition, virtual real estate has emerged as a valuable asset, with individuals and investors acquiring digital land and properties within platforms like Decentraland and The Sandbox, fostering a need for property development and management services, which is expected to drive the segment growth further.

Age Group Insights

The 21-35 years age group segment accounted for the largest revenue share of over 36.0% in 2022 and is expected to show the same trend over the forecast period. The inclination of the 21-35 years age demographic toward early technology adoption provides an opportunity for driving growth in the metaverse in gaming sector. Their awareness of emerging technologies and inclination toward exploring new experiences places them as influential contributors to the adoption of metaverse gaming platforms and technologies within the industry, which is expected to fuel the segment growth during the forecast period.

Genre Insights

The adventure genre segment accounted for the largest revenue share of over 30.0% in 2022. The segmental growth is attributed to its immersive storytelling and narrative-driven gameplay. Metaverse adventure games can transport players to vast and detailed worlds where they can explore, solve puzzles, and interact with Non-Player Characters (NPCs) and other players in a truly immersive way. In addition, the adventure genre segment typically gives players a choice and freedom to explore the world and complete the story virtually in the game.

The sandbox genre segment is expected to grow at the fastest CAGR of around 44.0% over the forecast period. Sandbox games provide players with a limitless virtual environment where they have the liberty to mold their own experiences, craft content, and engage with other players. This design approach closely aligns with the principles of the metaverse, where user-generated content and social interaction are considered significantly, which is expected to drive growth in the segment during the forecast period.

Technology Insights

The Augmented Reality (AR) & Virtual Reality (VR) technology segment accounted for the largest market share of over 42.0% in 2022. The ability of social interaction within the metaverse with the help of these technologies is driving the segment’s growth. Players can see and interact with avatars of other players, fostering a sense of community and shared experiences. This social aspect is a fundamental component of the metaverse and is instrumental in its growth over the forecast period.

Global Metaverse In Gaming Market share and size, 2022

The Artificial Intelligence (AI) technology segment is expected to grow at the fastest CAGR of over 42.0% over the forecast period. AI's capacity to assess player’s behavior facilitates delivering highly individualized content recommendations, ensuring that each player's experience is customized as per their preferences. Furthermore, AI-powered Natural Language Processing (NLP) enhances interactions with virtual assistants and characters, enriching the social and narrative dimensions of the metaverse, which is expected to augment the segment’s demand over the forecast period.

Regional Insights

The North America market captured the highest revenue share of around 42.0% in 2022. The substantial share is primarily attributed to the presence of key participants who are actively collaborating and partnering to innovate their offerings and continuously adopting advanced technologies for a strong foothold in the region. In April 2022, Epic Games, Inc., raised funding of USD 2 billion from Sony Group Corporation and Kirkbi, the parent company of the Lego Group. This funding aims to shape the future of the metaverse by ensuring it provides a secure and enjoyable environment for children, all while creating an immersive digital playground where kids can engage in play.

Metaverse In Gaming Market Trends, by Region, 2023 - 2030

The Asia Pacific region is expected to grow at the highest CAGR of nearly 44.0% over the forecast period. The rise of Esports in the region has created a strong foundation for the metaverse to flourish as it offers new opportunities for competitive and immersive gaming experiences. The local gaming giants and major global players are expanding their regional presence, driving innovation and investment in metaverse development. For instance, in June 2023, AvatarLife Skill Games Inc., a metaverse gaming startup, raised USD 1.5 million from Info Edge Ventures. The company plans to share the capital toward supporting product research and development, fostering community growth, and expanding its global team.  

Key Companies & Market Share Insights

The market is classified as highly competitive, with the presence of several market players. The key players operating in the industry are focusing on strategic alliances, product development, expansion, and partnerships to remain competitive in the industry. For instance, in September 2023, TSB Gaming Limited (The Sandbox) partnered with Warner Bros. Entertainment Inc. to bring iconic characters and franchises to The Sandbox metaverse. The collaboration will enable users to both craft and immerse themselves in NFTs featuring Warner Bros. characters, including iconic figures like Batman, Superman, and Wonder Woman. Some prominent players in the global metaverse in gaming market include:

  • Autodesk Inc.

  • Electronic Arts Inc.

  • Epic Games, Inc.

  • Magic Leap, Inc.

  • Meta

  • Microsoft

  • NetEase, Inc.

  • NVIDIA Corporation

  • Roblox Corporation


  • Take-Two Interactive Software, Inc.

  • Tencent Holdings Ltd.

  • TSB Gaming Limited (The Sandbox)

  • Unity Technologies

Metaverse In Gaming Market Report Scope

Report Attribute


Market size value in 2023

USD 21.98 billion

Revenue forecast in 2030

USD 236.20 billion

Growth rate

CAGR of 40.4% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

Component, technology, age group, genre, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; UK; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Mexico; South Africa; Saudi Arabia

Key companies profiled

Autodesk Inc.; Electronic Arts Inc.; Epic Games, Inc.; Magic Leap, Inc.; Meta; Microsoft; NetEase, Inc.; NVIDIA Corporation; Roblox Corporation; SAMSUNG; Take-Two Interactive Software, Inc.; Tencent Holdings Ltd.; TSB Gaming Limited (The Sandbox); Unity Technologies

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Global Metaverse In Gaming Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global metaverse in gaming market report based on component, technology, age group, genre, and region:

  • Component Outlook (Revenue, USD Million, 2018 - 2030)

    • Hardware

      • VR Headset

      • AR Headset

      • MR Headset

      • Display

      • Others

    • Software

      • Extended Reality Software

      • Game Engines

      • Financial Platforms

      • Metaverse Platforms

      • Others

    • Services

  • Technology Outlook (Revenue, USD Million, 2018 - 2030)

    • AR & VR

    • MR

    • Blockchain

    • Artificial Intelligence (AI)

    • Others

  • Age Group Outlook (Revenue, USD Million, 2018 - 2030)

    • Below 21 Years

    • 21 - 35 Years

    • 36 - 50 Years

    • 51 Years and Above

  • Genre Outlook (Revenue, USD Million, 2018 - 2030)

    • Action

    • Adventure

    • Role-playing Games (RPGs)

    • Simulation

    • Sports and Racing

    • Strategy

    • Sandbox

    • Card and Casino Games

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

      • Rest of Europe

    • Asia Pacific

      • China

      • Japan

      • South Korea

      • India

      • Australia

      • Rest of Asia Pacific

    • Latin America

      • Brazil

      • Mexico

      • Rest of Latin America

    • Middle East & Africa (MEA)

      • Saudi Arabia

      • South Africa

      • Rest of Middle East and Africa

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