A new report from technology research and consulting 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” analyzed the metaverse from two angles. The first is software and hardware and the second through the impact of various geographies.
According to the study, metaverse will reach a market share value of $50.37 billion by the year 2026. Metaverse growth was analyzed within the five time frames between 2021-2026. In addition, the market growth momentum is projected to accelerate at a CAGR of nearly 21%. This year alone, growth is forecast at 20.11%.
In terms of regional growth, 32% percent will come from the North American region, led by Canada and the United States. Other key consumer countries were China and Germany.
This year, Germany and the US shared the top spot in the global cryptocurrency rankings due to their more progressive regulations and institutional adoption rate.
However, interest in the transformative can undoubtedly be seen throughout the world. Earlier this month, the United Arab Emirates launched its Dubai Metaverse strategy to become one of the top 10 conversion economies.
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Additionally, the report highlighted the top interconnect applications. According to the survey, the top seven metaverse wallets include Meta Mask, Enjin Wallet, Coinbase, Math Wallet, Alpha Wallet, Coinomi and Trust Wallet.
A similar report This month highlighted fashion and e-commerce as industries to watch in the transition space. Within the same five years, the metaverse in the fashion market is expected to enjoy an increase to $6.6 billion with an accelerating growth rate of CAGR of 36%.