UK Metaverse Market Outlook to 2028
Driven by the integration of blockchain, rising investment and the global appeal of virtual interactions
About the Report
About the Report
The Metaverse Real Estate Service market is experiencing robust growth, driven by a convergence of factors. The increasing adoption of virtual real estate and digital property ownership within the metaverse creates demand for services such as virtual property management, leasing, and brokerage. Moreover, the growing population of users in the metaverse, particularly in virtual urban areas, stimulates the demand for virtual housing, commercial spaces, and virtual infrastructure, further fueling the need for metaverse real estate services.
The metaverse offers opportunities for virtual shopping experiences and interactive product demonstrations, enabling businesses to reach a broader audience and enhance customer engagement. The adoption of metaverse technologies for virtual meetings, conferences, and collaborative workspaces promotes remote work efficiency and fosters global connectivity among teams and professionals.
Metaverse platforms provide unique spaces for social interactions, fostering new ways for people to connect, communicate, and build communities, leading to increased user engagement. The metaverse offers immersive and interactive learning environments, enabling educational institutions and businesses to deliver innovative training programs and experiential learning.
UK Real Estate Service industry is catered by the domestic and international players and Lilith Games, Roblox Corporation., Tencent Holdings, Byte Dance., Nvidia Corporation. are the top players of the UK Metaverse industry.
UK Metaverse Market Analysis
- The UK metaverse market experienced growth during the COVID-19 pandemic as the demand for remote working tools and work-from-home solutions surged. This trend highlighted the relevance and potential of metaverse platforms in facilitating virtual workspaces and interactions.
- The growing popularity of cryptocurrencies and non-fungible tokens (NFTs) positively influences the metaverse market. These technologies play a significant role in enabling virtual asset ownership, transactions, and unique digital experiences within the metaverse, contributing to its expansion.
- Despite security challenges, the metaverse market benefits from the positive push toward decentralized network technology. This approach can offer lucrative opportunities for expansion by promoting data ownership and control, as well as fostering user engagement and participation in the virtual world.
Key Trends by Market Segment:
By Component: The software market is dominated by extended reality software. The high share is attributed to the high demand for AR and VR web app development tools, AR and VR mobile app development tools, AR and VR studios, Software Development Kits (SDK), and cloud-based tools. Further, the 3D mapping, modeling, & reconstruction tools, and volumetric video tools are key components for designing the virtual worlds and games in metaverse platforms. The software market for metaverse platforms is growing at a highest growth rate due to the emergence of centralized and decentralized gateways, avatar identity makers, play-to-earn games, virtual worlds, and metaverse-based social media.
By Vertical: The Consumer segment holds the largest market share among verticals during the forecast period. The consumer segment consists of mainly two sub-segments namely gaming and social media, live entertainment and other events. These technologies can enhance the gaming experience of players by creating virtual objects and characters, which are linked to defined locations in the real world.
The UK metaverse market is fragmented. The report covers the major players operating in the United Kingdom virtual reality market. Some of the prominent players in the industry are Lilith Games, Roblox Corporation., Tencent Holdings, Byte Dance., Nvidia Corporation. Competition in the metaverse is intensifying as more companies enter the market, offering a variety of virtual reality, augmented reality, and extended reality experiences. Established tech giants, startups, and gaming companies are vying to capture a significant share of the growing metaverse industry, leading to innovative developments and unique offerings to attract users.
- In December 2021, Meta launched a closed beta for a simplified AR creation tool called ‘Spark AR Go’. Meta announced the distribution of its ‘Spark Augmented Reality (AR) Go’ mobile application as a beta version for android and iOS smartphones.
- Meta built the mobile application to accompany its spark AR studio Software Development Kit (SDK), a powerful tool that enables web AR effects and 3D content found in its lineup of social media platforms such as Instagram and Facebook. ‘Spark AR Go’ enables AR content creators to develop, test, and publish immersive experiences for Meta’s social media platforms and track user performance metrics, and receive community feedback.
The future of the UK Metaverse market holds several exciting possibilities driven by emerging trends and advancements in virtual reality and augmented reality technologies. Increased adoption of artificial intelligence, data analytics, and virtual experiences will enhance the efficiency of virtual property transactions, marketing, and customer interactions within the metaverse.
Virtual smart homes and sustainable virtual building practices will gain prominence, appealing to environmentally conscious users in the metaverse. As virtual urbanization continues, mixed-use virtual developments with integrated amenities will become more popular, fostering vibrant and interactive virtual communities. The demand for flexible and remote work options will influence virtual property preferences, leading to a shift in the types of virtual spaces users seek within the UK metaverse.
Moreover, demographics will play a significant role in shaping the UK metaverse market, with the millennial generation embracing virtual experiences and the baby boomers seeking immersive virtual downsizing options. While challenges like data privacy and security remain, the future of the UK Metaverse market appears promising, adaptive, and poised for continued growth and innovation.
Scope Of The Report
Scope of the Report
UK Metaverse Market Segmentation
• Professional Services
• Industrial Manufacturing
• Northern Ireland
• Other Regions
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- Virtual First-time Homebuyers
- Virtual Real Estate Investors
- Virtual Empty Nesters and Retirees
- Gaming enthusiasts
- Corporate and Commercial Clients
- Industry Associations
- Consulting Agencies
- Government Bodies & Regulating Authorities
Time Period Captured in the Report:
- Historical Period: 2017-2022
- Base Year: 2022
- Forecast Period: 2022-2028
Major Players Mentioned in the Report:
- Lilith Games
- Roblox Corporation
- Tencent Holdings Ltd.
- Byte Dance
- Facebook Inc
- Nvidia Corporation
- Nextech AR Solutions Corp.
- Unity Technologies Inc.
- ZQGame, Nextech
- AR Solution Cop.
- Nvidia Corporation
Table of Contents
Table of Contents
1. Executive Summary
2. UK Metaverse Market Overview
2.1 Taxonomy of UK Metaverse Market
2.2 Industry Value Chain
2.4 Government Regulations/Initiatives for UK Metaverse Market
2.5 Growth Drivers of UK Metaverse Market
2.6 Issues and Challenges of UK Metaverse Market
2.7 Impact of COVID-19 on UK Metaverse Market
2.8 SWOT Analysis
3. UK Metaverse Market Size, 2017 – 2022
4. UK Metaverse Market Segmentation
4.1 By component, 2017 - 2022
4.2 By vertical, 2017 - 2022
4.3 By Regional Split (England, Wales, Northern Ireland, Scotland, Other Regions), 2017 - 2022
5. Competitive Landscape
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles – (Top 5 - 7 Major Players)
5.3.1 Jones Lang Lasalle Incorporated
5.3.2 CBRE Group Inc.
5.3.3 Brookfield Properties LLC
5.3.4 Home services of America Inc.
5.3.5 Cushman & Wakefield Holdings Inc
6. UK Metaverse Future Market Size, 2022 – 2028
7. UK Metaverse Future Market Segmentation
7.1 By component, 2022 - 2028
7.2 By vertical, 2022 - 2028
7.3 By Regional Split (England, Wales, Northern Ireland, Scotland, Other Regions), 2022 - 2028
8. Analyst Recommendations
9. Research Methodology
11. Contact Us
Step 1: Identifying Key Variables: Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step 2: Market Building: Collating statistics on metaverse over the years, penetration of marketplaces and service providers ratio to compute revenue generated for US real estate market. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.
Step 3: Validating and Finalizing: Building market hypothesis and conducting CATIs with industry experts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step 4: Research output: Our team has collaborated with several virtual reality developers and AR management firms to collect valuable insights from their metaverse portfolios, sales data, consumer preferences, and other relevant factors. This invaluable information has been instrumental in validating the statistics derived from our metaverse market analysis. By understanding the unique characteristics of different property segments and consumer behavior within the metaverse, we have ensured the accuracy and reliability of our metaverse real market data and research findings.
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Frequently Asked Questions
Frequently Asked Questions
How big is the UK metaverse market?
The UK Metaverse market is growing by CAGR OF 45.6% per year to reach US$7,828.3 million in 2023. This market is expected to reach US$21.7bn by 2030.
What are the recent trends in metaverse market?
The recent trending drivers which are fuelling the market are the growth in partnerships for the advancement of AR and VR technologies, the increasing desire for metaverse transactions using cryptocurrencies to acquire digital assets, the emergence of businesses with a metaverse focus, and the substantial surge in R&D investments.
What are the customer segments in metaverse?
Metaverse is covering the major segments in digital economy and the major areas which concluede under it are Metaverse Eduacation, Liver Entertainment, Advertising, Digital Media, AR & VR Hardware, Virtual Assets, Health and Fitness, Gaming, eCommerce, and Workplace.
What are the risks of investing in metaverse?
The major risks which are restraining the UK metaverse market are cyber attacks, identity theft, fraud, and unauthorized access to virtual assets poses a significant concern for investors. The safety measures are important for the control of these risks are needed are investing in robust security measures and adhere to strict data protection protocols by companies investing in Metaverse business.
Which companies will lead on metaverse?
The major companies working for metaverse are Google ,Facebook, Decentraland, Nvidia, Shopify ,Unity Technologies, Roblox and Epic Games. These companies are collectively complied with maximum share of UK metaverse total market share.
Which metaverse has most users?
Roblox has the maximum usage with 230 million monthly users. Roblox is the most enormous virtual world in the Metaverse. It is populare with the users due to its graphic experience and better user interactivity.
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