Metaverse market in finance to grow by 20.59% Y-O-Y from 2022 to 2023: Integration With VR and AR Platforms will Drive Growth

NEW YORK, Dec. 6, 2022 /PRNewswire/ — Metaverse market in finance insights –

• 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

• 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

• 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 –

• Key purchase criteria

• Adoption rates

• Adoption lifecycle

• Drivers of price sensitivity

• 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.

• BNP Paribas SA – The company offers metaverse in finance through W.I.R.E.D. (Wearable Immersive Real Estate Dataroom).

• 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:

• Integration with VR and AR platforms

• The emergence of artificial intelligence (AI)

• Increasing popularity and adoption of cryptocurrencies

Key Challenges:

• Privacy and security concerns over metaverse

• Lack of skilled employees

• System configuration issues

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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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• Add credibility to strategies

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What are the key data covered in this metaverse market in finance report?

• CAGR of the market during the forecast period 2023-2027

• Detailed information on factors that will drive the metaverse market in finance growth during the next five years

• Precise estimation of the metaverse market size in finance  and its contribution to the parent market

• Accurate predictions on upcoming trends and changes in consumer behavior

• The growth of the metaverse in the finance industry across North America, Europe, APAC, South America, and the Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of the metaverse market in finance vendors

Related Reports:

• 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.

• 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.

Table Of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Component

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

• 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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SOURCE Technavio