Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by Consumer Spending by 2026, Study Says – Metaverse Bitcoin News

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The Metaverse space dedicated to entertainment such as virtual concerts, video games and movies is expected to grow to a value of $28.92 billion from 2021 to 2026, according to a study by market research firm Technavio. . Part of this growth will occur in the U.S. market due to the intersection of game and movie companies.

Growing entertainment metaverse driven by consumer adoption

The metaverse and its future adoption continue to be under active investigation by market forecasting firms.a report Market research firm Technavio published on November 11, determined that the market size of entertainment-related metaverse initiatives will reach $28.92 billion from 2021 to 2026.

The report identifies two key areas driving this growth, including increased consumer spending on virtual concerts and virtual events enabled by advances in virtual reality (VR) and augmented reality (AR) technologies. I’m here. A second important factor is the increasing adoption of online games. This, combined with the aforementioned technologies, provides a level of immersion that drives spending in this space.

However, the study also presents challenges to market growth, such as privacy and security concerns in the metaverse.This problem is already institution Like the World Economic Forum (WEF) and INTERPOL, the latter already Start-up to bring their services into the police-focused metaverse.

New trends and the role of the US

The study further predicts the rise of the metaverse in filmmaking, arguing that films will become interactive and viewers will be able to influence cinematic environments using VR technology for this purpose. I am predicting. There have been previous attempts to achieve this, but none have met with mass mainstream success.

Research indicates that most of the expected metaverse growth will come from the United States due to a combination of factors. 33% of the increase occurred in the region, thanks to “the rapid convergence of the entertainment industry and the driving force of gaming culture, the integration of gaming services into the service offerings of major entertainment brands, and increased investment in creating” It is predicted that Provides a more immersive gaming and entertainment experience. “

Other reports also make predictions about the metaverse in the entertainment industry. September 12, JP Morgan said China’s metaverse games market could explode to over $100 billion.Also, in March, predicted The Metaverse could be a $13 trillion opportunity.

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AR, China, city, growth, interactive movie, metaverse, entertainment metaverse, online game, Technavio, hmm, VR

What are your thoughts on the entertainment metaverse and its projected growth? Let us know in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He explains that he entered the cryptosphere in December 2017 when the price hike happened, and fell behind the game. Computers With an engineering background, living in Venezuela, and influenced by the cryptocurrency boom on a societal level, he offers a different perspective. About the success of crypto and how it can help the unbanked and underserved people.

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