Web 3.0 Market

What Is Web 3.0 and Metaverse

The Metaverse is a collaborative virtual space created parallel to our physical reality that can be accessed through the internet and compatible hardware devices. Web 3.0 is a digital environment where we can create, share, and formalize deals. Artificial intelligence and machine learning technology will allow users to engage with data.

These technologies involve a high level of artificial intelligence and an advanced user interface. Considering the increasing market size of Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) (expected to rise to 297 Billion U.S. Dollars by 2024), both of these technologies will bring the next-generation internet to life.

Metaverse vs Web 3.0

Unlike Web 2.0, where users have little to no control over their content, Web 3.0 users create, control and monetize their content. Through blockchains and cryptocurrencies, Web 3.0 offers complete control to its users. Considering all of this, Metaverse is, in a way, Web 3.0. It offers a decentralized community of nodes with open access to users worldwide to exchange data and information. Metaverse is a dimension that utilizes Web 3.0 ideas to achieve its purposes. Metaverse is an innovative futuristic era creating a virtual environment, whereas Web 3.0 is an improvement on Web 2.0 focusing on making the internet more intelligent.

GLOBAL: METAVERSE MARKET, 2020-2030

Metaverse MarketDynamics

The global Metaverse market is expected to witness substantial growth during the forecast period. The major factors driving the growth of the metaverse market are the increasing focus on converging digital and physical worlds using the Internet and the growing demand for Metaverse to purchase digital assets using cryptocurrencies. However, cyber-threats in Metaverse are hindering metaverse market growth. But technological advancements are creating an opportunity in the metaverse market.

METAVERSE TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 18

1.1 MARKET ATTRACTIVENESS ANALYSIS 20

2 MARKET INTRODUCTION 21

2.1 DEFINITION 21

2.2 SCOPE OF THE STUDY 21

2.3 RESEARCH OBJECTIVE 21

2.4 MARKET STRUCTURE 22

3 RESEARCH METHODOLOGY 23

4 MARKET DYNAMICS 31

4.1 INTRODUCTION 31

4.2 DRIVER 32

4.2.1 INCREASING FOCUS ON CONVERGING DIGITAL AND PHYSICAL WORLDS USING INTERNET 32

4.2.2 INCREASING TRACTION AND POPULARITY OF MIXED REALITY (MR) 33

4.3 RESTRAINT 34

4.3.1 CYBER-THREATS 34

4.4 OPPORTUNITY 34

4.4.1 TECHNOLOGICAL ADVANCEMENT 34

4.5 COVID-19 IMPACT 35

4.5.1 IMPACT ON THE IT INDUSTRY 35

4.5.2 IMPACT ON IT EXPENDITURE BY ORGANIZATIONS 35

4.5.3 IMPACT ON METAVERSE DEVELOPMENTS 35

5 MARKET FACTOR ANALYSIS 36

5.1 VALUE CHAIN 36

5.1.1 RESEARCH & DEVELOPER 36

5.1.2 SYSTEM INTEGRATORS 36

5.1.3 END USERS 36

5.2 PORTER'S FIVE FORCES MODEL 37

5.2.1 THREAT OF NEW ENTRANTS 37

5.2.2 BARGAINING POWER OF SUPPLIERS 38

5.2.3 THREAT OF SUBSTITUTES 38

5.2.4 BARGAINING POWER OF BUYERS 38

5.2.5 INTENSITY OF RIVALRY 38

6 GLOBAL METAVERSE STATUS 39

6.1 THE DEVELOPMENT STAGE DIVISION OF THE METAVERSE 39

6.2 GLOBAL METAVERSE INVESTMENTS BY REGION 39

6.3 GLOBAL METAVERSE PROJECTED USERS ANALYSIS 40

7 GLOBAL METAVERSE MARKET, BY COMPONENT 41

7.1 OVERVIEW 41

7.1.1 GLOBAL METAVERSE MARKET, BY COMPONENT, 20202030 (USD MILLION) 42

7.2 HARDWARE 42

7.3 SOFTWARE 42