According to a new report, published by KBV research, The Global Metaverse Market size is expected to reach $2019.75 billion by 2032, rising at a market growth of 45.6% CAGR during the forecast period.
Governments are exploring the metaverse for citizen engagement, public service delivery, and national branding. South Korea, for instance, has launched the metaverse Seoul initiative to enhance public services through virtual reality. Universities and research institutions also invest in metaverse-based research and virtual learning spaces.
The Hardware segment is experiencing a CAGR of 45.1 % during the forecast period. This is driven by the surging demand for immersive experiences and advancements in VR, AR, and MR devices. Key components such as VR headsets, haptic devices, sensors, and AR glasses witnessed widespread adoption across gaming, entertainment, education, and enterprise applications.
The Mobile segment led the maximum revenue in the Global Metaverse Market by Platform in 2024, and thereby, achieving a market value of $1,035.90 billion by 2032. The segment’s growth was driven by the increasing penetration of smartphones and the growing availability of mobile-friendly metaverse applications. Mobile platforms offer users the convenience of accessing virtual worlds on the go, contributing to broader consumer adoption.
The Gaming segment is growing at a CAGR of 44.5 % during the forecast period. This growth was fuelled by the increasing popularity of immersive gaming experiences that leverage virtual reality (VR), augmented reality (AR), and interactive 3D environments. Integrating blockchain technology, play-to-earn models, and customizable avatars enhanced user engagement, making gaming a dominant force in the metaverse ecosystem.
Full Report: https://www.kbvresearch.com/metaverse-market/
The North America region dominated the Global Metaverse Market by Region in 2024, thereby, achieving a market value of $855.05 billion by 2032. The Europe region is anticipated to grow a CAGR of 45% during (2025 - 2032). Additionally, The Asia Pacific region would witness a CAGR of 46.8% during (2025 - 2032).
By Component
By Platform
By Application
By Geography
Unique Offerings 
