Spending on Metaverse in Asia Pacific To Hit Nearly $770 Bln by 2030

The metaverse industry in the Asia Pacific is flourishing as it is expected to hike by 45% this year, according to a new report.

According to a recent report by Research and Market, the world’s largest market research store, on the Asia Pacific metaverse market and its future, the metaverse industry in the Asia Pacific is predicted to increase by 45% on an annual basis to reach $95.0 billion in 2023, a matter which shows the significant growth of the metaverse in this region.

The report also anticipated that the Asia Pacific metaverse industry would grow up steadily in the coming period to hit a CAGR of 34.8% during 2023-2030, according to PR Newswire. In addition, the spending value of the metaverse in this region is predicted to increase from $65.5 billion in 2022 to reach US$769.9 billion by 2030.

It mentioned that the metaverse industry would flourish in specific sectors such as technology & telecommunications, travel and hospitality, retail industry, real estate, financial services, health & wellness, manufacturing, media & entertainment, and training & education.

The report also shed light on the NFT market dynamics and future forecasts in this region. Asia Pacific’s NFT industry will witness a boost in the fields of the retail industry, technology & telecommunications industry, financial services industry, manufacturing industry, travel and hospitality industry, media & entertainment industry, training & education industry, real estate industry, and health & wellness industry.

Earlier, a Goldman Sachs report showed that around 30% of crypto holders, who are part of the world’s family offices, are from the APAC region. 27% of the family offices in APAC that are without crypto exposure showed interest in investing in crypto in the future.