Metaverse Advertising to $US7.5 billion by 2030 says Statista
The global metaverse advertising industry is projected to grow by 315% and reach a value of $7.5 billion by 2030, according to a Statista Market Insights survey. This growth is driven by factors such as the increasing popularity of virtual reality and the growing consumer demand for immersive and interactive advertising experiences.
But a quick counterpoint: even if the numbers are correct, that figure is just a rounding error on earlier hype. For instance in 2022, McKinsey and Co claimed US$120 billion had rushed into metaverse investments in the first half of 2022 alone.
Metaverse allows brands to showcase their services and products in ways that traditional ads cannot, while providing valuable insights into consumer behaviour. The market is expected to hit a $1.8 billion value in 2024, up from $1.6 billion last year.
By 2026, the global metaverse advertising industry is expected to increase by 72% and hit a $3.1 billion value. By the end of 2028, this figure will jump to $5.7 billion and continue rising. Statista expects the double-digit growth to continue until the end of a decade, resulting in a market size of $7.5 billion by 2030.
The United States and China represent the largest markets for metaverse advertising, generating 45% of the total industry value. The US market is forecasted to grow by 317% and reach a $2.5 billion value by 2030. The Chinese market will grow by 316% and hit a $917 million value in this period.
Japan, Germany, and the United Kingdom will also see an impressive 315% growth by 2030, helping them reach market sizes of $373 million, $318 million, and $283 million, respectively.
Mi3
