Dublin, May 02, 2023 (GLOBE NEWSWIRE) — “United States Metaverse Market Intelligence and Future Growth Dynamics Databook – 100+ KPIs Covering Market Size by Sector X Use Cases X Technology, Business and Consumer Spend, NFT Spend – Q1 2023” report has been added to ResearchAndMarkets.com’s Offering.
The Metaverse industry in the United States is expected to grow 44.1% YoY to reach $51,435 USD. 7 million in 2023.
The Metaverse industry is expected to grow steadily over the forecast period, registering a CAGR of 32.9% during 2023-2030. The Metaverse Spend value in the country will increase from USD 35,688.1 million in 2022 to reach USD 375,700.0 million by 2030.
Much innovation is taking place in the US metaverse industry. Ahead of the 2022 holiday and FIFA World Cup season, a growing number of brands are renewing activities in the metaverse to better connect with their customers. The growing investment in emerging technology comes amid the growing popularity of the metaverse among American consumers.
According to the Global Metaverse Survey (Q4 2022), over 28% of US consumers stated that they are somewhat or very familiar with metaverse. Furthermore, 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, with most firms investing in the development of virtual infrastructure, the sector outlook remains positive in the short to medium term.
Brands across industry verticals seek to engage with consumers through innovative metaverse integrations and activations in the US
In the changing retail environment, brands are looking to leverage metaverse technology to reinforce brand value, accelerate growth, expand offerings and reach new audiences. Ahead of the 2022 holiday and FIFA World Cup season, brands have launched innovative metaverse integrations and activations to better engage 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 launched the Cheetos-themed digital suburb, Centerville, developed in Meta’s Horizon Worlds. I
alongside the metaverse, users can play games and earn points by completing tasks. Alongside the metaverse game, Frito-Lay also launched its first ever Web3 campaign, powered by the 2022 FIFA World Cup. In partnership with PepsiCo and Atom, the metaverse platform, the Web3 campaign will allow FIFA fans in the US to scan the QR code and join the Pass the Ball Challenge.
Several other brands, including Visa, Maybelline, PacSun, TCL Electronics and Victoria’s Secret and Co., have launched metaverse integration and activations for their customers. Maybelline, for example, launched a non-shoppable virtual space that allows users to discover and explore products.
Furthermore, users can join events and play games in the Maybelline Virtual Loft. Similarly, Visa developed a hybrid experience for the upcoming FIFA World Cup in 2022, with the goal of educating people about how the firm enables the movement of money around the world in new ways.
From a short to mid-term perspective, the publisher expects more brands across industry verticals to continue investing in the metaverse segment to reach new audiences and build a global brand.
Companies are expected to invest billions of dollars in the development of metaverse infrastructure
Called the next big innovation and the future of the internet, big tech giants continue to fund billions into the market, even if their projects have not accumulated the expected use among consumers.
Meta, formerly known as Facebook, announced that the firm will continue to invest in the development of metaverse infrastructure, with spending expected to reach around $100 billion over the next five years.
The announcement comes at a time when the company has experienced a dramatic decline in turnover. Declining advertising revenue, increasing competition and other macroeconomic factors led the firm to report a revenue decline for the second consecutive quarter, and the trend is expected to continue in Q4 2022.
Meta is also focusing on strategic acquisition opportunities to advance its metaverse ambitions. In November 2022, Meta announced that the firm had acquired UK-based Audio Analytic, the firm that builds AI-powered audio recognition software.
Furthermore, in September 2022, Meta also acquired Loft, a Berlin-based haptic startup, which develops small and discrete wearable devices. These acquisitions are part of the firm’s strategy to create an ecosystem that can improve the customer experience in the metaverse.
The publisher expects Meta to make more such strategic acquisition deals over the next three to four years as it continues to push into the future of the internet. This will continue to drive investment in the sector from the short to medium term.
US-based retailers make a move into the metaverse with the launch of a marketplace for collecting and trading virtual products
In their bid to attract Gen Z consumers and present themselves as the brand of the modern world, US-based retailers are launching their own innovative marketplaces in the country.
In November 2022, Nike, one of the leading US-based athletic retailers, announced the launch of a metaverse marketplace, .Swoosh. The marketplace will enable customers to collect and trade virtual products. The firm plans to launch a digital collection on the platform in 2023. Shoppers can try out and use the virtual items in digital games and experiences.
In September 2022, Walmart also announced its move into the metaverse through a strategic partnership with Roblox. The US-based retailer 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 showcase toys.
Over the next three to four years, the publisher expects more retailers in the US to launch metaverse experiences to attract new audiences and drive engagement with existing ones.
Key Attributes:
| Report attribute | Details |
| Number of pages | 183 |
| Forecast period | 2023–2030 |
| Estimated market value (USD) in 2023 | 51435.7 million dollars |
| Projected market value (USD) by 2030 | 375700 million dollars |
| Compound annual growth rate | 32.8% |
| Regions covered | United States |
scope
United States Metaverse market size and future growth dynamics by key indicators
United States Metaverse – Business Spend by Sector Value Trend Analysis, 2021-2030
US Enterprise Spending on Metaverse by Use Case/Application, 2021-2030
US NFT spending by sector value trend analysis, 2021–2030
US corporate spending on Metaverse by Technology
US spend on Metaverse by platform
US e-commerce spending on Metaverse by sector (gross merchandise value), 2021–2030
United States NFT market size and future growth dynamics by key indicators
NFT – Total Sales Spend Value Trend Analysis, 2021–2030
NFT – Total Sales Spend Volume Trend Analysis, 2021–2030
NFT – Average Value Per Transaction Trend Analysis, 2021–2030
US NFT Market Size and Forecast by Key Asset, 2021-2030
NFT collectibles and art trend analysis, 2021-2030
NFT Property trend analysis, 2021-2030
NFT Sports Trend Analysis, 2021–2030
NFT Gaming Trend Analysis, 2021–2030
NFT Utility Trend Analysis, 2021–2030
NFT fashion and luxury trend analysis, 2021–2030
Trend analysis for other assets, 2021–2030
US consumer spending on Metaverse by device, 2021–2030
US consumer spending on Metaverse by hardware unit, 2021–2030
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