Metaverse Market in the US Set to Skyrocket to $110 Billion by 2028
According to several sources, the Metaverse market in the United States is projected to surge to $110 billion by 2028, up from its current value of $16.69 billion in 2023, with a compounded annual growth rate (CAGR) of approximately 37%.
This rapid growth is driven by significant investments in technology and the evolving adoption of Metaverse applications by Generation Z and Generation Alpha. Research indicates that technologies such as Virtual Reality (VR), Augmented Reality (AR), Artificial Intelligence (AI), blockchain, and 5G will see robust development in the future.
Citing insights from the "Metaverse Global Congress" event held in June 2022, emerging technologies like 3D technology and 5G infrastructure are gradually being integrated into daily life, highlighting the potential of the Metaverse to revolutionize accessibility across communities.
Furthermore, the report illustrates a growing trend in the United States where cryptocurrencies are increasingly used to purchase digital assets (NFTs, coins, tokens). The adoption of AR and VR technologies on Metaverse platforms is also gaining popularity among users.
A clear example of this trend is the Meta Quest VR headset, which has sold over 20 million units, compared to the 32 million units of PlayStation 5 (PS5) consoles sold. Remarkably, while the Metaverse concept is relatively new, the PlayStation (PS) brand has been established for over 20 years, underscoring the Metaverse's rapid expansion.
In summary, the report provides an overview of the Metaverse market in the United States, marking it as a pivotal area poised for robust development, with significant implications for the digital technology sector at large, and blockchain technology in particular.
