Brands across all industries are trying to connect with consumers through innovative Metaverse integrations and activations
US Metaverse Market
Dublin, May 2, 2023 (GLOBE NEWSWIRE) – Tue “United States Metaverse Market Intelligence and Future Growth Dynamics Databook – 100+ KPIs covering Market Size by Sector X Use Cases X Technology, Business & Consumer Spending, NFT Spending – Q1 2023” Report has been added ResearchAndMarkets.com Offer.
The Metaverse industry in the United States is expected to grow 44.1% annually to $51,435. 7 million in 2023.
The Metaverse industry is expected to grow steadily during the forecast period, registering at a CAGR of 32.9% during 2023-2030. The Metaverse issue value in the country will increase from $35,688. 1 million in 2022 to $375,700. 0 million by 2030.
There is much innovation in the United States metaverse industry. Ahead of the 2022 holidays and FIFA World Cup season, more and more brands have redesigned their Metaverse activities to better engage with their customers. The growing investment in new technologies comes as the metaverse becomes more popular with consumers in the United States.
According to the Global Metaverse Survey (Q4 2022), over 28% of consumers in the US said they are somewhat or very familiar with the Metaverse. Additionally, 18% of consumers want to use the Metaverse to explore products in 3D. While the metaverse industry is still in its early stages of development and most companies are investing in virtual world infrastructure development, the industry outlook remains positive in the short to medium term.
Brands across all industries are trying to connect with consumers through innovative Metaverse integrations and activations across the United States
In the changing retail landscape, brands are looking to leverage Metaverse technology to increase brand equity, accelerate growth, expand offerings, and reach new audiences. Ahead of the 2022 holidays and FIFA World Cup season, brands have rolled out innovative Metaverse integrations and enablements to better engage their audiences.
In October 2022, Cheetos, one of the leading brands in the United States, announced the launch of a new immersive Metaverse experience just in time for Halloween. Frito-Lay has created the Cheetos-style suburban digital neighborhood of Centerville, which is being developed within Meta’s Horizon Worlds. I
In addition to the metaverse, users can play games and earn points by completing tasks. Besides the Metaverse game, Frito-Lay also launched the first-ever Web3 campaign dedicated to the 2022 FIFA World Cup. In partnership with PepsiCo and Atom, the Metaverse platform, the Web3 campaign will allow FIFA fans across the United States to scan the QR code and participate in the Pass the Ball Challenge.
Several other brands including Visa, Maybelline, PacSun, TCL Electronics and Victoria’s Secret and Co. have introduced Metaverse integration and activations for their customers. For example, Maybelline introduced a non-buyable virtual space that allows users to discover and explore products.
In addition, users can attend events and play games in the Maybelline Virtual Loft. Similarly, Visa has created a hybrid experience for the upcoming 2022 FIFA World Cup, with the goal of educating people about how the company is empowering money movement around the world in new ways.
In the short to medium term, the publisher expects more brands across all industries to continue investing in the Metaverse segment to reach new audiences and build a global brand.
Enterprises are expected to invest billions of dollars in developing the Metaverse infrastructure
Big tech giants, dubbed the next big innovation and the future of the internet, continue to invest billions in the market, even if their projects haven’t garnered the expected consumer acceptance.
Meta, formerly known as Facebook, announced that the company will continue to invest in the development of the Metaverse infrastructure, with spending expected to reach approximately $100 billion over the next five years.
The announcement comes at a time when the company is experiencing a dramatic drop in sales. Declining advertising revenue, increased competition and other macroeconomic factors led the company to report a second consecutive quarter of revenue declines, and this trend is expected to continue in the fourth quarter of 2022.
Meta is also focused on strategic acquisition opportunities to further its Metaverse ambitions. In November 2022, Meta announced it had acquired UK-based Audio Analytic, the company that develops AI-powered sound recognition software.
In addition, in September 2022, Meta also acquired Loft, a Berlin-based haptics startup developing small and discreet wearable devices. These acquisitions are part of the company’s strategy to create an ecosystem that can improve customer experiences in the Metaverse.
The publisher anticipates that Meta will complete more such strategic acquisition deals over the next three to four years as the company continues to advance into the future of the internet. This will continue to drive investment in this sector in the short to medium term.
US-based retailers enter the metaverse with the launch of a marketplace to collect and trade virtual products
In an effort to attract Gen Z consumers and brand themselves to the modern world, US-based retailers are opening their own innovative marketplaces in the country.
In November 2022, Nike, one of the leading US athletics retailers, announced the launch of a Metaverse marketplace: .Swoosh. The marketplace allows customers to collect and trade virtual products. The company plans to launch a digital collection on the platform in 2023. Shoppers can try and wear the virtual items in digital games and experiences.
In September 2022, Walmart also announced its entry into the metaverse through a strategic collaboration with Roblox. The US-based retailer has launched two Metaverse experiences on the Roblox platform: Walmart Land and Universe of Play. While Walmart Land will feature entertainment, beauty and fashion items, Universe of Play will feature toys.
The publisher expects that over the next three to four years, more retailers across the US will launch Metaverse experiences to attract new audiences and encourage engagement with existing ones.
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2023 – 2030
Estimated market value (USD) in 2023
Projected market value (USD) by 2030
Annual growth rate
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