NEW YORK, Dec. 6, 2022 /PRNewswire/ — Metaverse market in finance insights –
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Vendors: 15+, Including Bank of America Corp., BNP Paribas SA, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase & Co., KB Financial Group Inc., Mogo Inc., National Bank of Kuwait S.A.K.P, NH Investment & Securities Co. Ltd., and Shinhan Financial Group Co. Ltd., among others
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Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
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Segments: Component, End-user, and Geography
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In 2017, the metaverse market in finance was valued at USD 25.58 billion. From a regional perspective, APAC held the largest market share, valued at USD 6.09 billion. The metaverse market size in finance is estimated to grow by USD 107.06 billion from 2022 to 2027 at a CAGR of 21.33% according to Technavio.
Metaverse market in finance – Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
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Key purchase criteria
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Adoption rates
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Adoption lifecycle
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Drivers of price sensitivity
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For highlights on customer landscape analysis, download a report sample!
Metaverse market in finance – Vendor Insights
The global metaverse market in finance is concentrated. The market is subject to rapidly changing consumer demands and preferences. Vendor performance may be affected by global and regional economic conditions and various other demographic trends. Vendors compete based on several factors such as quality, price, service, brand image, distribution, and marketing. Most vendors are innovating their existing products or introducing new product lines to sustain the market competition. Some vendors are focusing on acquiring smaller brands to increase their market presence. The market is expected to witness the entry of a large number of pureplay technology or other players, which will intensify competition during the forecast period. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors including –
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Bank of America Corp. – The company offers metaverse in finance through VR Training programs.
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BNP Paribas SA – The company offers metaverse in finance through W.I.R.E.D. (Wearable Immersive Real Estate Dataroom).
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HSBC Holdings Plc – The company offers metaverse in finance with the use of augmented reality, virtual reality, and extended reality.
Metaverse market in finance – Market Dynamics
Major Drivers:
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Integration with VR and AR platforms
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The emergence of artificial intelligence (AI)
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Increasing popularity and adoption of cryptocurrencies
Key Challenges:
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Privacy and security concerns over metaverse
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Lack of skilled employees
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System configuration issues
The metaverse market in finance report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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What are the key data covered in this metaverse market in finance report?
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CAGR of the market during the forecast period 2023-2027
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Detailed information on factors that will drive the metaverse market in finance growth during the next five years
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Precise estimation of the metaverse market size in finance and its contribution to the parent market
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Accurate predictions on upcoming trends and changes in consumer behavior
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The growth of the metaverse in the finance industry across North America, Europe, APAC, South America, and the Middle East and Africa
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A thorough analysis of the market’s competitive landscape and detailed information on vendors
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Comprehensive details of factors that will challenge the growth of the metaverse market in finance vendors
Related Reports:
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According to Technavio’s analyst, the metaverse market size in travel and tourism industry is expected to be valued at USD 188.24 billion in 2026 with a progressing CAGR of 26.01%. The increasing demand for AR and VR technology is notably driving the metaverse market growth in the travel and tourism industry, although factors such as privacy and security concerns over the metaverse may impede the market growth.
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The metaverse in e-commerce market is estimated to grow at a CAGR of 39.65% between 2022 and 2027. The size of the market is forecast to increase by USD 85,885.22 million. The growing popularity of AR technology is notably driving the market growth, although factors such as privacy and security concerns over the metaverse may impede the market growth.
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Metaverse In Finance Market Scope |
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Report Coverage |
Details |
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Page number |
153 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 21.33% |
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Market growth 2023-2027 |
USD 107.06 billion |
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Market structure |
Concentrated |
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YoY growth 2022-2023 (%) |
20.59 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 32% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bank of America Corp., BNP Paribas SA, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase and Co., KB Financial Group Inc., Mogo Inc., National Bank of Kuwait S.A.K.P, NH Investment and Securities Co. Ltd., and Shinhan Financial Group Co. Ltd. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents:
1 Executive Summary
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1.1 Market overview
2 Market Landscape
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2.1 Market ecosystem
3 Market Sizing
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3.1 Market definition
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3.3 Market size 2022
4 Historic Market Size
5 Five Forces Analysis
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5.1 Five forces summary
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5.6 Threat of rivalry
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5.7 Market condition
6 Market Segmentation by Component
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6.1 Market segments
7 Market Segmentation by End-user
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7.1 Market segments
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
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10.1 Market drivers
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10.2 Market challenges
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10.4 Market trends
11 Vendor Landscape
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11.1 Overview
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11.2 Vendor landscape
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11.4 Industry risks
12 Vendor Analysis
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12.1 Vendors covered
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12.4 BNP Paribas SA
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12.5 HSBC Holdings Plc
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12.9 Mogo Inc.
13 Appendix
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13.1 Scope of the report
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demand for infrastructure-as-a-service (IaaS): The ongoing migration from on-premise infrastructure to cloud-based services is having an impact on the revenues of original equipment manufacturers (OEMs) of servers, albeit the adverse impact on them is slightly milder than the effect on storage equipment. The emergence of IaaS has had a strong impact on the IT hardware market. The biggest advantage of IaaS is that it allows enterprises to scale operations or introduce innovations in the workflow without the need to make substantial investments in storage and servers for the traditional on-premise hardware environment. At the same time, cloud-focused infrastructure spending is expected to increase in terms of server, disk storage, and networking hardware.
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