A new report from technology research and advisory firm Technavio reveals an upward trend for the metaverse over the next four years.
The report titled “Metaverse Market in Finance by Component and Geography – Forecast and Analysis 2022-2026” analyzes the metaverse from two points of view. The first is that of software and hardware, and the second is that of the impact of different geographic regions.
According to the study, the metaverse will reach a market share value of USD 50.37 billion by the year 2026. The growth of the metaverse was analyzed within five time frames between 2021-2026. Additionally, the market growth momentum is projected to accelerate to a CAGR of nearly 21%. This year alone, a growth of 20.11% is expected.
In terms of regional growth, 32% will come from the North American region, with Canada and the United States leading. Other key consuming countries are China and Germany.
This year, Germany and the US shared the top spot in the global cryptocurrency ranking due to their more progressive regulations and pace of institutional adoption.
However, interest in the metaverse can certainly be seen around the world. Earlier this month, The United Arab Emirates launched its Dubai Metaverse Strategy to become a top 10 metaverse economy.
Additionally, the report highlighted the top applications of the metaverse. According to the study, the top seven wallets in the metaverse are Meta Mask, Enjin Wallet, Coinbase, Math Wallet, Alpha Wallet, Coinomi, and Trust Wallet.
A similar report this month highlighted fashion and e-commerce as sectors to watch in the metaverse space.. Within the same five years, the metaverse in the fashion market is expected to enjoy an increase to $6.6 billion with a CAGR growth acceleration rate of 36%.
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