Metaverse in Real Estate Market to Witness Robust Expansion by 2028
The market size of the global Metaverse in Real Estate Market experienced significant growth in 2020 and is projected to continue with a rapidly increasing revenue compound annual growth rate (CAGR) throughout the forecast period. Key factors driving this market growth include substantial investments in virtual land and real estate within the metaverse, a rising number of individuals and companies making virtual purchases on platforms like Decentraland and The Sandbox, and the growing awareness and utilization of Non-Fungible Tokens (NFTs) and cryptocurrencies in metaverse real estate. Furthermore, the market is benefiting from the increasing trend of brands renting spaces and properties in the metaverse to establish storefronts, host events targeted at younger digital audiences, and develop virtual stores.
The term "metaverse" refers to a connected 3D virtual world that seamlessly integrates the digital and real worlds using advanced technologies such as Virtual Reality (VR) and Augmented Reality (AR). This immersive environment can be accessed through various devices like VR headsets, AR glasses, and smartphone apps, allowing users to virtually explore different locations and engage in digital communication. The continuous advancements in metaverse technology have fueled a significant boom in the virtual real estate market, with more people investing substantial amounts to acquire plots of land in the virtual space. Platforms such as The Sandbox and Decentraland, which are based on blockchain technology and offer uninhabited environments, enable users to own and develop various types of real estate within these digital worlds. Transactions for land purchases and sales are conducted using cryptocurrency, and users can construct stores, art galleries, workspaces, and showrooms in the digital realm.
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Investment firms and virtual real estate agencies worldwide are investing millions of dollars in digital land parcels, developing them, and leasing them out to brands and other companies. Recently, the prices of metaverse plots have surged by almost 500% as more investors enter the real estate and NFT-related digital asset markets. Additionally, existing metaverse platforms are expanding their land offerings and increasing parcel sizes to accommodate the growing demand for metaverse real estate. This trend is expected to continue, playing a significant role in driving the market's revenue growth.
Competitive landscape of global Metaverse in Real Estate market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Metaverse in Real Estate market:
- Linden Lab
- Metaverse Group
- Decentraland Marketplace
- The Sandbox
- Axie Infinity
Type Outlook (Revenue, USD Billion; 2018-2028)
- Buy Metaverse Real Estate
- Sell Metaverse Real Estate
- Rent Metaverse Real Estate
End Use Outlook (Revenue, USD Billion; 2018-2028)
- Individual Game Users
- Virtual Real Estate Developers
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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