Metaverse Financial Market to grow 20.59% YoY from 2022 to 2023: Integration with VR and AR platforms will drive growth

NEW YORK, December 6, 2022 /PRNewswire/ — Metaverse Market in Finance Insights –

• Offerer: 15+, including Bank of America Corp., BNP Paribas SA, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase & Co., KB Financial Group Inc., Mogo Inc., National Bank of Kuwait SAKP, NH Investment & Securities Co.Ltd. and Shinhan Financial Group Co. Ltd., among others

• Cover: master market analysis; Main drivers, main trends and challenges; customer and supplier landscape; Insights into vendor products and current developments; major providers; and market positioning of providers

• Segments: Component, End User and Geography

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In 2017, the Metaverse Market was rated for finance $25.58 billion. From a regional perspective APAC held the largest market share, rated at $6.09 billion. That Size of the Metaverse market in finance is estimated to grow $107.06 billion from 2022 to 2027 at a CAGR of 21.33% according to Technavio.

Metaverse Market in Finance – customer landscape

To help companies evaluate and develop growth strategies, the report outlines:

• Important purchase criteria

• adoption rates

• adoption life cycle

• Drivers of price sensitivity

• For customer landscape analysis highlights, Download a sample report!

Metaverse Market in Finance Vendor Insights

The global metaverse financial market is concentrated. The market is exposed to the rapidly changing demands and preferences of consumers. Provider’s performance may be affected by global and regional economic conditions and various other demographic trends. Vendors compete based on multiple factors such as quality, price, service, brand image, distribution and marketing. Most vendors renew their existing products or introduce new product lines to maintain market competition. Some vendors focus on acquiring smaller brands to increase their market presence. A large number of Pureplay technologies or other players are expected to enter the market which will intensify the competition over the forecast period. Technavio report analyzes the market competitive landscape and provides information about several market vendors including –

The story goes on

• Bank of America Corp. – Company offers Metaverse in finance through VR training programs.

• BNP Paribas SA – The company offers Metaverse in finance via WIRED (Wearable Immersive Real Estate Dataroom).

• HSBC Holdings Plc – The company provides financial metaverse using augmented reality, virtual reality and extended reality.

Metaverse Market in Finance – Market Dynamics

Important Drivers:

• Integration with VR and AR platforms

• The emergence of artificial intelligence (AI)

• Increasing popularity and acceptance of cryptocurrencies

Key challenge:

• Privacy and security concerns about Metaverse

• Lack of qualified employees

• System configuration problems

Drivers and challenges are affecting market dynamics which may impact businesses. Find more insights in a sample report!

The Metaverse Market in Finance report offers key information and factual data with a qualitative and quantitative study of the market based on market drivers and restraints and future prospects.

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• Add credibility to strategies

• Analyze the offers of the competition

• Get a holistic view of the market

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What are the Key Data Covered in This Metaverse Finance Market Report?

• CAGR of the market over the forecast period 2023-2027

• Detailed information on factors that will propel Metaverse Financial Market growth over the next five years

• Accurately estimates the size of the Metaverse financial market and its contribution to the parent market

• Accurate predictions of upcoming trends and changes in consumer behavior

• The growth of the metaverse in finance North America, EuropeAPAC, South Americaand the middle East and Africa

• A thorough analysis of the competitive landscape of the market and detailed information about vendors

• Full details of factors that will challenge the growth of the Metaverse for Financial Providers market

Related reports:

• According to Technavio analyst, the Metaverse market size in the travel and tourism industry expected to be estimated $188.24 billion in 2026 at a progressive CAGR of 26.01%. In particular, the increasing demand for AR and VR technology is driving the growth of the Metaverse market in the travel and tourism industry, although factors such as privacy and security concerns regarding the Metaverse may hamper the market growth.

• That Metaverse in the e-commerce market is estimated at a CAGR of 39.65% between 2022 and 2027. The size of the market is expected to increase by $85,885.22 million. The growing popularity of AR technology is particularly driving the market growth, although factors such as privacy and security concerns related to the metaverse may hamper the market growth.

Table of Contents:

1. Summary

2 market landscape

3 market size

4 Historical market size

5 Five Forces Analysis

6 Market Segmentation by Components

7 Market Segmentation by End User

8 customer landscape

9 Geographical Landscape

10 drivers, challenges and trends

11 provider landscape

12 Vendor Analysis

13 Appendix

• Demand for Infrastructure-as-a-Service (IaaS): The ongoing migration from on-premises infrastructure to cloud-based services is impacting original equipment manufacturers (OEMs) sales of servers, albeit negatively on them somewhat milder than that Effect on storage facilities. The advent of IaaS has had a major impact on the IT hardware market. The biggest benefit of IaaS is that it allows organizations to scale operations or innovate in workflow without making significant investments in storage and servers for the traditional on-premises hardware environment. At the same time, cloud-focused infrastructure spending in terms of servers, disk storage, and networking hardware is expected to increase.

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SOURCE Technavio