The Latin America, Middle East and Africa Metaverse Market would witness market growth of 48.7% CAGR during the forecast period (2025-2032).
The Brazil market dominated the LAMEA Metaverse Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $44,049.3 million by 2032. The Argentina market is showcasing a CAGR of 49.7% during (2025 - 2032). Additionally, The UAE market would register a CAGR of 46.9% during (2025 - 2032).
As awareness and infrastructure around the metaverse improve, adoption accelerates across sectors and geographies. Tech-savvy consumers, forward-looking enterprises, and public institutions are integrating these technologies into daily operations, branding strategies, and citizen services. Major corporations are actively entering this space.
Meanwhile, firms in sectors such as automotive, finance, and FMCG are experimenting with the marketing, training modules, and customer engagement. Digital-native generations are fuelling consumer adoption. Millennials and Gen Z spend increasing time and money on virtual experiences, digital fashion, and avatar customization.
The metaverse—a convergence of immersive virtual reality, blockchain, AI, and spatial computing—is gaining significant momentum across global markets. Additionally, the United Arab Emirates is witnessing a remarkable recovery and expansion in its travel and tourism sector, contributing approximately AED 167 billion (9% of GDP) in 2022. The country’s hospitality infrastructure also grew significantly, with 1,189 hotels reported in the same year. Brazil is emerging as a key enabler in Latin America, driven by growing AI investments and robust digital infrastructure. In 2023, AI spending surpassed US$1 billion, reflecting a 33% year-over-year growth, while Intelligent Process Automation (IPA) saw spending of US$214 million, up 17%. Saudi Arabia’s digital transformation is advancing rapidly, underpinned by government-led initiatives and public-private partnerships. The country’s ICT sector, valued at over $40.94 billion in 2023, is now the largest and fastest-growing in the MENA region, contributing 4.1% to the national GDP. This growth aligns with the Kingdom’s Vision 2030, which emphasizes digital diversification and adopting emerging technologies. Thus, LAMEA, powered by Brazil’s AI, the UAE’s tourism, and Saudi Arabia’s digital growth, is emerging as a key force in the market.
Free Valuable Insights: The Worldwide Metaverse Market is Projected to reach USD 2019.75 Billion by 2032, at a CAGR of 45.6%
Based on Component, the market is segmented into Hardware, Software/Platform, and Services. Based on Platform, the market is segmented into Mobile, Desktop, Console, and Other Platform. Based on Application, the market is segmented into Gaming, Social Media & Entertainment, BFSI, Healthcare, Education & Training, Real Estate, Travel & Tourism, and Other Application. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Component
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