Rising demand for virtual assets and increasing usage of NFTs to trade digital assets are some key factors driving market revenue growthThe global [FURL=https://www.reportsanddata.com/report-detail/metaverse-market/]metaverse market[/FURL] size is expected to reach USD 872.35 Billion in 2028 and register a revenue CAGR of 44.1% over the forecast period, according to a latest report by Reports and Data. Rising demand for Mixed Reality (MR) for use in the metaverse is expected to drive market revenue growth to a significant extent during the forecast period. In addition, increasing demand for virtual assets and usage of Non-fungible Tokens (NFTs) to trade digital assets is expected to boost market revenue growth going ahead.
However, challenges in identifying jurisdictions to ensure safe and secure virtual space are expected to hamper revenue growth of the market. Metaverse will raise the issue of legislation and jurisdiction, thus prompting governments to explore more into virtual legal realms. It will be crucial to know the mechanism by which the issue of jurisdiction will be applied owing to increasing availability of virtual space to users across the globe. The metaverse is bound to bring together a large number of users, rendering it an area of vast potential to communicate and trade, but it also makes people vulnerable if there are no rules that control the limits. It would be very difficult to establish jurisdiction and a set of laws that can assure the virtual environment is safe and protected for users.
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Some major companies included in the global market report are Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Unity Technologies, Inc., Roblox Corporation, Lilith Games, and Nextech AR Solutions Corp.
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For the purpose of this report, Reports and Data has segmented global metaverse market based on platform, component, technology, offerings, application, end-use, and region:
Platform Outlook (Revenue, USD Billion; 2018-2028)
Mobile
Desktop
Component Outlook (Revenue, USD Billion; 2018-2028)
Software
Asset Creation Tools
Programming Engines
Hardware
Virtual Reality (VR) Headsets & Augmented Reality (AR) Headsets
Display
Extended Reality (XR) Hardware
Omni Treadmills
Haptic Devices & Sensors
Smart Glasses
Technology Outlook (Revenue, USD Billion; 2018-2028)
Virtual Reality (VR) & Augmented Reality (AR)
Mixed Reality (MR)
Blockchain
Offerings Outlook (Revenue, USD Billion; 2018-2028)
Avatars
Virtual Platforms
Asset Marketplaces
Financial Services
Application Outlook (Revenue, USD Billion; 2018-2028)
Social Media
Gaming
Aircraft Maintenance
Conference
Content Creation
Online Shopping
Virtual Runway Shows
Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
Media & Entertainment
Aerospace & Defense
Fashion
Education
Others
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