Technology research and advisory firm Technavio is making a bold prediction for the metaverse market over the next 4-year blockchain cycle in the report titled “Metaverse Market in Finance by Component and Geography – Forecast and Analysis 2022-2026”
Technavio concluded software and hardware, and the impact of the technology in various geographical regions would lead to rapid growth and adoption.
In 2026, the metaverse’s market share will reach $50.37 billion, according to the study. From 2021-2026, five timeframes were considered to analyze metaverse growth. A CAGR of nearly 21% is projected for market growth momentum. A growth rate of 20.11% is expected this year alone.
There will be 32% growth in the North American region, with Canada and the United States leading the way. China and Germany were also important consumer countries.
Due to their more progressive regulations and institutional adoption rates, Germany and the U.S. topped this year’s global crypto rankings.
There is no doubt that metaverse interest is widespread across the globe. Dubai Metaverse Strategy was launched earlier this month by the United Arab Emirates with an aim to lead f the top 10 metaverse economies.