Metaverse is a futuristic technology where physical and digital realms converge. It allows the users to do unimaginable in the virtual world.
While the metaverse is still in its early stages, over 600 million users interact with it already. As of 2024, Metaverse is majorly used for gaming, Roblox being the most popular game in the space.
Despite numerous advantages, Metaverse faces challenges like data privacy, accessibility, and more. In this article, we have discussed the latest facts and figures related to Metaverse users, usage, market, and more.
So what’s the wait for? Let’s get into the details.
Metaverse Statistics: Top Picks for 2024
- Metaverse has more than 600 million active users worldwide as of 2024.
- 51% of Metaverse users are under 13 years old.
- Metaverse Market is anticipated to reach a value of $74.4 billion in 2024.
- The user penetration is predicted to be 14.6% in 2024 and is expected to increase to 39.7% by 2030.
- 25% of People Will Spend At Least One Hour Per Day in the Metaverse by 2026.
- 54% of the experts believe that the Metaverse will be a crucial aspect of the daily lives of half a billion people worldwide by 2040.
- Nearly 24% of US adults believe Metaverse could completely replace social media.
- Roblox is the most popular game on Metaverse, with 70.2 million daily active users.
- Metavesre could contribute an additional five trillion dollars to the world economy by 2030.
Metaverse Users
With more than 600 million monthly active users, Metaverse has gained popularity among Gen Alpha, GenZ, and Millenials.
Statista further predicts that Metaverse users will reach 2.63 billion by 2030.
Metaverse Has More Than 600 Million Active Users Worldwide As Of 2024
Of these, 51% of users are 13 or younger, and 83.5% are under 18 years old.
Although there are many applications of Metaverse, the top applications are currently witnessed in the gaming industry.
Some top virtual games are Roblox, Minecraft, and Fortnite, with 214 million, 166 million, and 236 million monthly active users.
Source: LinkedIn, Banklesstimes.
54% Of The Experts Believe That The Metaverse Will Be A Crucial Aspect Of The Daily Lives By 2040
Meanwhile, 46% of the experts said that the metaverse will not be a widely adopted technology even in 2024.
Source: Pew Research.
Metaverse Market
Metaverse is valued at $56.6 billion and is expected to reach $74.4 billion by the end of 2024.
Some of the major factors that promote market growth are the adoption of AI and ML, the younger generation’s interest in the latest technology, and more.
Here are further details about the Metaverse market.
Metaverse Market Is Anticipated To Reach A Value Of $74.4 Billion In 2024
The market is expected to grow at a CAGR of 37.73% during the forecast period of 2024 to 2030, resulting in a market volume of $507.8 billion by 2023.
The Metaverse market’s major drivers are the adoption of virtual reality, augmented reality blockchain technology, and other computer graphics advancements.
The following tab displays the market size of Metaverse’s market recorded over the years.
| Year | Metaverse Market Size |
|---|---|
| 2030* | $507.8 billion |
| 2029* | $415.2 billion |
| 2028* | $312.4 billion |
| 2027* | $219.6 billion |
| 2026* | $150.1 billion |
| 2025* | $103.6 billion |
| 2024* | $74.4 billion |
| 2023 | $56.6 billion |
| 2022 | $46.1 billion |
Source: Statista.
In 2024, The United States Is Anticipated To Generate The Most Value To The Metaverse Market With A Contribution Of $23 Billion
Other countries that contribute the most to the Metaverse market are China, Japan, and the United Kingdom.
The following table displays the contribution of different countries in the metaverse market worldwide.
| Country | Metaverse Market Value |
|---|---|
| United States | $23 billion |
| China | $15.9 billion |
| Japan | $3.9 billion |
| United Kingdom | $3 billion |
| Germany | $2.9 billion |
| India | $2.1 billion |
| France | $2 billion |
| South Korea | $1.5 billion |
| Canada | $1.5 billion |
| Italy | $1.4 billion |
Metaverse Usage
Today, Metaverse is largely used for gaming. It is also widely used in the e-commerce industry to virtually try out the products.
Further, experts predict it will be used for socializing and attending virtual events in the upcoming years.
Let’s take a detailed look at the Usage of Metaverse in different industries worldwide.
The Global Virtual Fitting Room Market Size Was Valued At $4.79 Billion In 2023
In 2022, the virtual fitting room market size was recorded to be $4.03 billion.
The technology allows the users to try on items in the virtual fitting room without actually trying them. Hence, consumers can determine the ideal size, fit, and style of an item while shopping online.
The market is anticipated to grow at a CAGR of 21.1% between 2023 and 203o, reaching $18.31 billion.
Source: Fortune Business insights.
Nearly 24% Of Us Adults Believe Metaverse Could Completely Replace Social Media
In a survey, almost one in four Americans said that the metaverse has the potential to replace the social media application.
However, another 42% said it would be used as social media but would not completely replace it.
Source: Nord VPN, Propeller Insights.
The Metaverse Gaming Market Was Valued At $22.7 Billion In 2023
Comparatively, the market value in 2022 was $16.8 billion.
The market is forecasted to grow at a CAGR of 39.3% between 2023 and 2028, reaching $119.2 billion.
This rapid growth will result from increased AR and VR usage to create a 3D gaming experience. At the same time, software and hardware, cryptocurrency tokens, and NFTs will contribute a major share in driving the Metaverse gaming market.
Source: Markets and Markets.
The Mobile Augmented Reality Devices Industry Is Anticipated To Grow By Over 23% By 2024
As of 2022, more than 1.1 billion people were actively using mobile AR devices. The number of AR device users in 2023 was 1.4 million.
Further, the experts predicted that the number of AR users will reach 1.73 billion in 2024, growing by 23% between 2022 and 2024.
Source: AR Insider.
50% Of Us Adults Say Lower-Priced VR Headsets Are The Primary Factor Encouraging The Use Of The Metaverse
53% of people are willing to spend over $300 on basic VR headsets and controllers.
Another 48% of the consumers said they are willing to spend $700 or more on advanced VR gear like helmets, gloves, and sleeves.
Apart from pricing, other most relevant factors, in order of importance, are as follows:
- Larger amounts of content: 40%
- Adoption by family and friends: 39%
- Government regulations: 36%
- Use in the workplace: 30%
Source: Morning Consult, Tidio.
Metaverse Adoption
Metaverse will be largely adopted for work and schools. Over 50% of people said they are looking forward to using Metaverse for professional usage.
Further, by 2026, a quarter of people worldwide will spend at least one hour on Metaverse for personal use.
52% People Are Looking Forward To Joining Metaverse For Work Reasons
While, 48% wanted to join Metaverse for arts and entertainment.
Further, 3 in 10 people want to join Metaverse for gaming.
Here are further reasons people want to join Metaverse for:
- Work possibilities: 52%
- Art and live entertainment: 48%
- Money investment: 44%
- Education: 40%
- Online dating and socializing: 32%
- Gaming: 29%
- Adult entertainment: 18%
Source: Tidio.
25% Of People Will Spend At Least One Hour Per Day In The Metaverse By 2026
74% of American adults are considering or have joined the metaverse.
More than 1 in 4 of these people will spend a minimum of one hour in the metaverse for work, education, shopping, social, or entertainment purposes by 2026.
By then, 30% of the organizations worldwide will have products and services ready for the metaverse.
It is further estimated that Metavesre could contribute an additional five trillion dollars to the world economy by 2030.
Source: Gartner
Higher Metaverse Adoption Rates Are Recorded In Asia, Mena, And Europe Compared To The United States
People in these regions have better access to the devices required to use Metaverse. This creates a favorable environment for the deployment and adoption of metaverse-related applications.
In May 2023, the South Korean Government increased their metaverse investments and launched a $48.3 million fund for developing and supporting startups that will drive the growth of the metaverse ecosystem.
Similarly, The Government of Dubai launched its Dubai Metaverse Strategy with the aim of becoming one of the world’s top 10 metaverse economies by 2030.
Source: Harvard Business Review.
38% Of The Metaverse Players Are Below The Age Of 20
Meanwhile, 74% of the games on Metaverse are below 35 years old.
This is because the majority of metaverse gamers who play games like Roblox, Minecraft, and Fortnite are below the age of 16.
The following table displays the age of the Metavers gamers.
| Age group | Percentage of Metaverse gamers |
|---|---|
| 10 to 20 years | 38% |
| 21 to 35 years | 36% |
| 36 to 50 years | 22% |
| 51 to 60 years | 4% |
Source: Newzoo.
The User Penetration Of Metaverse Is Predicted To Be 14.6% In 2024
In 2023, it was 12.5%. Further, this value is anticipated to reach 39.7% by 2030.
The highest share of Metaverse penetration as of 2024 will be contributed by Metaverse e-commerce, gaming, and Health and Fitness.
The following table displays the user penetration rate of Metaverse recorded over the years.
| Year | Metaverse User Penetration Rate |
|---|---|
| 2030* | 39.7% |
| 2029* | 35.8% |
| 2028* | 31% |
| 2027* | 25.9% |
| 2026* | 21.2% |
| 2025* | 17.4% |
| 2024 | 14.6% |
| 2023 | 12.5% |
| 2022 | 10.9% |
Source: Statista.
Roblox Is The Most Popular Game On Metaverse, With 70.2 Million Daily Active Users
Roblox has 214 million monthly active users worldwide.
After Roblox, some of the most popular games on Metaverse are VRChat, Horizon Worlds, Rec Room, Neos VR, Altspace VR, Chillout VR, Sansar, and Oasis VR.
59% of metaverse gamers are male. Meanwhile, 41% of the gamers are female.
Source: Exploding topics.
Worldwide Sales Of Extended Reality Headsets Are Forecasted To Grow Three Times By 2024
In 2022, 30 million XR headsets were shipped. This figure is expected to grow by 3x and reach 105 million shipped headsets by 2024.
XR headsets are utilized in many applications for Metaverse. It has the potential to offer safer training in the areas like piloting and surgery. Plus, the products and prototypes developed by companies in the metaverse will save time and costs when developing a real-world model.
55% Of Gen Zers Are Somewhat Familiar With The Metaverse
While even more Millennials say the same (60%). Besides, only 35% of Gen X and 17% of boomers are familiar with the metaverse.
Many Gen Alpha, Genz, and Millenials are already trying out virtual experiences. Over 40% have used VR technology in some way for gaming, attending a live event, for work or school, etc.
Source: Delloite, By Bit Learn.
The First-Ever Ar & Vr Concert Experience Was A Collaboration Between Rapper Travis Scott And The Gaming Platform Fortnite In April 2020
Since then, many artists such as Imagine Dragons, Kings of Leon, Calvin Harris, and Miley Cyrus have performed live concerts using VR technology, providing fans with front-row seats, backstage access, and exclusive fan art.
South Korean girl group Blackpink was recently awarded MTV EMAs and VMAs “Best Metaverse Performance” for their concert ‘The Virtual’ which over 15.7 million viewers watched.
Source: By Bit Learn.
Public Opinion on Metaverse
Metaverse is a powerful technology that will largely influence people’s lives worldwide in the upcoming years. Most people are excited about its usage, while 3 in 10 consider it a threat.
With the help of different surveys, I have compiled the thoughts of US residents on adopting Metaverse in this section.
26% Of The People In The United States Said That Metaverse Is The Future Of Technology
Meanwhile, 9% of the people feel it to be a better alternative than real life. However, 30% of the people believed it was not as good as real life.
Further, 20% of people think the metaverse can be a big threat to personal privacy.
Here are further details about Americans’ opinions on Metaverse.
| Opinion of US residents on Metaverse | Percentage of people |
|---|---|
| Not as good as real life | 30% |
| The future of technology | 26% |
| Tech companies trying to figure out a new way to make money | 23% |
| A big risk to personal privacy | 20% |
| A really exciting way to play and socialize | 18% |
| A way to intensify enjoyable experiences | 13% |
| None of these | 11% |
| A fad that will not last long | 11% |
| Something for young people only | 10% |
| A better alternative to real life | 9% |
| How we will do most of our shopping in the future | 9% |
| Will create more equality in society | 6% |
| A scam or predatory financial scheme | 6% |
Source: Statista.
31% Of The US Population Has Never Heard Of The Metaverse
Another 31% of the people stated that they had heard about the metaverse but were not familiar with it. 24% say they are somewhat familiar with it, while the rest 14% say they are very familiar.
Since Facebook rebranded its name as Meta, metaverse has become a well-known concept worldwide. However, 1 in 3 people in the United States are still unaware of Metaverse.
Source: Ipsos.
33% Of The People In The United States Said They Are Curious To Learn About The Metaverse
In a survey conducted by Ipsos, it was found that consumers had various feelings about Metaverse.
One-third – the majority of users reported that they were curious about it, while 27% said they were uninterested.
The following table displays the feelings and thoughts US adults have towards Metaverse.
- Curious: 33%
- Uninterested: 27%
- Suspicious: 23%
- Concerned: 19%
- Indifferent: 19%
- Excited: 18%
- Optimistic: 16%
- Confused: 12%
- None of these: 7%
Source: Ipsos.
39% Of The Adults In The United States Say That The Metaverse Can Help Them Participate In Activities They Couldn’t In The Real World
While 1 in 3 people feel they could connect with the people without feeling awkward about it.
A large number of metaverse users could overcome their shortcomings in the real world in the metaverse. Plus, people with disabilities see the metaverse as an opportunity to experience a life without restrictions.
The following table displays the activities people want to try in Metaverse.
| Metaverse’s top potential benefits | Percentage of US adults |
|---|---|
| Overcoming obstacles or disabilities that prevent us from doing something in real life | 39% |
| Enhancing creativity and imagination | 37% |
| Traveling the world without moving | 37% |
| Increasing technological literacy and skills | 34% |
| Connecting with new people without feeling awkward | 34% |
| Creating completely new job opportunities | 30% |
| Meeting your loved ones whenever you want | 30% |
| More possibilities in education | 29% |
| Giving opportunities for self-expression | 27% |
Source: Tidio.
