Technavio: AR/VR Integration To Drive Metaverse Market Growth

Metaverse market size estimated to grow by USD 107.06 billion from 2022 to 2027 at a CAGR of 21.33%

Technavio has announced its latest market research report titled Global Metaverse Market in Finance 2023-2027 (Source: PRNewswire)

Metaverse market in finance insights:

· Vendors: 15+, Including Bank of America Corp., BNP Paribas SA, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase & Co., KB Financial Group Inc., Mogo Inc., National Bank of Kuwait S.A.K.P, NH Investment & Securities Co. Ltd., and Shinhan Financial Group Co. Ltd., among others

· Coverage: Parent market analysis; key drivers, major trends and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

· Segments: Component, End-user and Geography

In 2017, the metaverse market in finance was valued at USD 25.58 billion. From a regional perspective, APAC held the largest market share, valued at USD 6.09 billion. The metaverse market size in finance is estimated to grow by USD 107.06 billion from 2022 to 2027 at a CAGR of 21.33% according to Technavio, says a press release.

Metaverse market in finance -  Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines:

· Key purchase criteria

· Adoption rates

· Adoption lifecycle

· Drivers of price sensitivity

For highlights on customer landscape analysis, download a report sample!

Related: What Is Metaverse and How Will It Impact Wearable Technology?

Metaverse market in finance - Vendor Insights

The global metaverse market in finance is concentrated. The market is subject to rapidly changing consumer demands and preferences. Vendor performance may be affected by global and regional economic conditions and various other demographic trends. Vendors compete based on several factors such as quality, price, service, brand image, distribution, and marketing. Most vendors are innovating their existing products or introducing new product lines to sustain the market competition. Some vendors are focusing on acquiring smaller brands to increase their market presence. The market is expected to witness the entry of a large number of pure play technology or other players, which will intensify competition during the forecast period. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including:

· Bank of America Corp. - The company offers metaverse in finance through VR Training programs.

· BNP Paribas SA - The company offers metaverse in finance through W.I.R.E.D. (Wearable Immersive Real Estate Dataroom).

· HSBC Holdings Plc - The company offers metaverse in finance with the use of augmented reality, virtual reality, extended reality.

Metaverse market in finance - Market Dynamics

Major Drivers:

· Integration with VR and AR platforms

· The emergence of artificialintelligence (AI)

· Increasing popularity and adoption of cryptocurrencies

Key Challenges:

· Privacy and security concerns over metaverse

· Lack of skilled employees

· System configuration issues

The metaverse market in finance report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

What are the key data covered in this metaverse market in finance report?

· CAGR of the market during the forecast period 2023-2027

· Detailed information on factors that will drive the metaverse market in finance growth during the next five years

· Precise estimation of the metaverse market size in finance and its contribution to the parent market

· Accurate predictions on upcoming trends and changes in consumer behavior

· The growth of the metaverse in the finance industry across North America, Europe, APAC, South America, The Middle East & Africa

· A thorough analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of the metaverse market in finance vendors.

Jürgen Thalmayer
December 14, 2022

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