According to the publisher, the Metaverse industry in Australia is expected to grow by 44.8% on an annual basis to reach US$1,954.5 million in 2023.
The Metaverse industry is expected to grow steadily over the forecast period, recording a CAGR of 33.4% during 2023-2030. The Metaverse Spend Value in the country will increase from US$1,350.1 million in 2022 to reach US$14,700.6 million by 2030.
The hype surrounding the metaverse and its applications has grown significantly in 2022. The amalgamation of physical and virtual worlds meant that more and more are brands investing in the metaverse sector to drive customer engagement. With Australia being at the forefront of adopting and adapting new technology for several years, the country has also witnessed increased investment in the metaverse sector.
The growing interest among consumers has resulted in investment from traditional banking institutions toward the development of metaverse infrastructure. In addition to improving the customer experience, investment in metaverse technology can also assist banking firms to reduce their carbon footprint.
This report provides a comprehensive view of the size, and dynamics of the metaverse industry in Australia along with market trends covering over 100 KPIs. It details market opportunities across key sectors - retail industry, technology & telecommunications, financial services, manufacturing, travel and hospitality, media & entertainment, training & education, real estate, and health & wellness. It provides analysis in terms of business spend as well as consumer spend.
The Metaverse industry is expected to grow steadily over the forecast period, recording a CAGR of 33.4% during 2023-2030. The Metaverse Spend Value in the country will increase from US$1,350.1 million in 2022 to reach US$14,700.6 million by 2030.
The hype surrounding the metaverse and its applications has grown significantly in 2022. The amalgamation of physical and virtual worlds meant that more and more are brands investing in the metaverse sector to drive customer engagement. With Australia being at the forefront of adopting and adapting new technology for several years, the country has also witnessed increased investment in the metaverse sector.
The growing interest among consumers has resulted in investment from traditional banking institutions toward the development of metaverse infrastructure. In addition to improving the customer experience, investment in metaverse technology can also assist banking firms to reduce their carbon footprint.
Firms are raising funding rounds to further expand their presence in the metaverse space
With the prominence of the metaverse growing rapidly among consumers and brands across Australia, metaverse-focused firms are raising funding rounds to further expand their presence in the sector. For instance,- In September 2022, Animoca Brands, an NFT-based metaverse firm, announced that the firm had raised US$110 million in a strategic funding round from Temasek, Boyu Capital, and GGV Capital. Along with these investors, existing investors such as Mirae Asset Management and True Global Ventures also participated in the funding round. Notably, the firm is planning to use the freshly infused capital for funding strategic acquisitions, product development, obtaining licenses, and further expanding its presence in the metaverse space.
- In October 2022, Upside, a Web3-focused DAO, announced that it had raised US$5 million in funding, which will be used to support the best Web3 startups in Australia. Notably, some of the startups where Upside has made initial investments include Reservoir, PrePo, Mirror Planet, and Astros Lab.
Consumers in Australia are willing to shop for products inside metaverse in Australia
Globally, many of the major brands and B2C e-commerce marketplaces have launched shopping capabilities inside the metaverse, as consumers are demanding innovative shopping experiences. Notably, similar trends are emerging in the Australian market. For instance,- According to the Global Metaverse Consumer Survey, over 43% of consumers are willing to shop for products inside the metaverse. This shows that more than half of Australian consumers are aware of the metaverse and the innovative shopping experiences that it can offer.
Australian regulators have included the metaverse in their 2022-23 research program amid the growing ecosystem
The growing development in the Australian metaverse industry has led to regulators showing a keen interest in the sector. Notably, the metaverse market remains largely unregulated globally, and the trends are no different in Australia, at present. However, Australian regulators have started to keep track of the rapid developments in digital communication. For instance,- In October 2022, the Australian Communications and Media Authority (ACMA), the regulatory body which regulates phone, internet, and gambling content in the country, announced that it has included the metaverse in its 2022-23 research program. Under the research program, the ACMA is expected to keep track of the rapid developments in the metaverse space. Beyond metaverse, the ACMA is also expected to conduct a thorough review of how digital platforms are handling user complaints and reports.
This report provides a comprehensive view of the size, and dynamics of the metaverse industry in Australia along with market trends covering over 100 KPIs. It details market opportunities across key sectors - retail industry, technology & telecommunications, financial services, manufacturing, travel and hospitality, media & entertainment, training & education, real estate, and health & wellness. It provides analysis in terms of business spend as well as consumer spend.
- Business spend: Market estimates and forecasts to assess opportunities by business spend on metaverse by sector, application/use cases, technology, and platform.
- Consumer spend: Breaks down consumer spend on metaverse by key component segments such as append on e-commerce, NFT purchase, by devices, and hardware devices to provide detailed assessment across the metaverse industry.
- NFT industry segments: Provides value, volume, and average value per transaction across 7 key assets in the NFT market. This includes collectibles and art, real estate, sports, utility, gaming, fashion and luxury, and others.
Scope
This report provides a detailed data-driven analysis of metaverse industry, covering a range of segments and highlighting growth areas across verticals. With over 100 KPIs at the country level, this report provides a comprehensive understanding of metaverse market dynamics. In addition, it provides a comprehensive understanding of NFT market dynamics and future forecasts.Australia Metaverse Market Size and Future Growth Dynamics by Key Performance Indicators
- Total Spend Value Trend Analysis
- Business Spend Value Trend Analysis
- Consumer Spend Value Trend Analysis
Australia Metaverse - Business Spend by Sector Value Trend Analysis, 2021-2030
- Retail Industry
- Technology & Telecommunications Industry
- Financial Services Industry
- Manufacturing Industry
- Travel and Hospitality Industry
- Media & Entertainment Industry
- Training & Education Industry
- Real Estate Industry
- Health & Wellness Industry
- Other
Australia Business Spend on Metaverse by Use Case/Application, 2021-2030
- Retail (Marketing & Advertising, Commerce, Operations & Training)
- Technology & Telecommunications (Marketing & Advertising, Commerce, Operations & Training)
- Financial Services (Marketing & Advertising, Commerce, Operations & Training)
- Manufacturing (Marketing & Advertising, Commerce, Operations & Training]
- Travel and Hospitality (Marketing & Advertising, Commerce, Operations & Training)
- Media & Entertainment (Marketing & Advertising, Commerce, Operations & Training)
- Training & Education (Marketing & Advertising, Commerce, Operations & Training)
- Real Estate (Marketing & Advertising, Commerce, Operations & Training)
- Health & Wellness (Marketing & Advertising, Commerce, Operations & Training)
- Other (Marketing & Advertising, Commerce, Operations & Training)
Australia NFT Spend by Sector Value Trend Analysis, 2021-2030
- Retail Industry
- Technology & Telecommunications Industry
- Financial Services Industry
- Manufacturing Industry
- Travel and Hospitality Industry
- Media & Entertainment Industry
- Training & Education Industry
- Real Estate Industry
- Health & Wellness Industry
- Other Industry
Australia Business Spend on Metaverse by Technology
- By Technology
- Retail Industry
- Technology & Telecommunications
- Financial Services
- Manufacturing Industry
- Travel and Hospitality
- Media & Entertainment
- Training & Education
- Real Estate
- Health & Wellness
- Other
Australia Spend on Metaverse by Platform
- Desktop
- Mobile
- Headset
Australia Ecommerce Spend on Metaverse by Sector (Gross Merchandise Value), 2021-2030
- Retail Shopping
- Travel and Hospitality
- Online Food Service
- Media & Entertainment
- Health & Wellness
- Technology Products & Services
- Other Industries
Australia NFT Market Size and Future Growth Dynamics by Key Performance Indicators
NFT -Total Sales Spend Value Trend Analysis, 2021-2030
NFT - Total Sales Spend Volume Trend Analysis, 2021-2030
NFT - Average Value Per Transaction Trend Analysis, 2021-2030
Australia NFT Market Size and Forecast by Key Assets, 2021-2030
NFT Collectibles and Art Trend Analysis, 2021-2030
- Spend Value
- Spend Volume
- Average Value Per Transaction
NFT Real Estate Trend Analysis, 2021-2030
- Spend Value
- Spend Volume
- Average Value Per Transaction
NFT Sports Trend Analysis, 2021-2030
- Spend Value
- Spend Volume
- Average Value Per Transaction
NFT Gaming Trend Analysis, 2021-2030
- Spend Value
- Spend Volume
- Average Value Per Transaction
NFT Utility Trend Analysis, 2021-2030
- Spend Value
- Spend Volume
- Average Value Per Transaction
NFT Fashion and Luxury Trend Analysis, 2021-2030
- Spend Value Trend Analysis
- Spend Volume Trend Analysis
- Average Value Per Transaction
Other Assets Trend Analysis, 2021-2030
- Spend Value Trend Analysis
- Spend Volume Trend Analysis
- Average Value Per Transaction
Australia Consumer Spend on Metaverse by Device, 2021-2030
- Desktop
- Mobile
- Digital Gadgets
Australia Consumer Spend on Metaverse by Hardware Devices, 2021-2030
- AR (Augmented Reality)
- VR (Virtual Reality)
- MR (Mixed Reality)
Reasons to buy
- In-depth Understanding of Metaverse Market Dynamics: Understand market opportunities and key trends along with forecast (2021-2030). Understand market dynamics through essential KPIs such as business and consumer spend.
- Vertical Insights and Use Cases: Get market dynamics through business spend by sector across the retail industry, technology & telecommunications, financial services, manufacturing, travel and hospitality, media & entertainment, training & education, real estate, and health & wellness.
- Develop Market-Specific Strategies: Identify growth segments and target specific opportunities to formulate a strategy; assess market-specific key trends, drivers, and risks in the metaverse and NFT market to help stakeholders build profitable strategies.
- Get Insights into NFT Market Size and Forecast by Key Assets: Collectibles and art, real estate, gaming, sports, utility, fashion & others.
- Consumer Spend on Metaverse: Get a market evaluation based on in-depth information obtained from metaverse spend on e-commerce, NFT purchase, and device & hardware devices.
Table of Contents
1. About this Report
2. Australia Metaverse Market Size and Future Growth Dynamics by Key Performance Indicators
3. Australia Metaverse - Business Spend by Sector Value Trend Analysis, 2021 - 2030
4. Australia Total Business Spend on Metaverse by Use Case / Application, 2021 - 2030
5. Australia Business NFT Spend by Sector Trend Analysis, 2021 - 2030
6. Australia Total Business Spend on Metaverse by Technology, 2021 - 2030
7. Australia Business Spend on Metaverse by Platforms, 2021 - 2030
8. Australia Ecommerce Spend on Metaverse by Sector, 2021 - 2030
9. Australia NFT Market Size and Future Growth Dynamics by Key Performance Indicators
10. Australia NFT Market Size and Forecast by Key Assets
11. Australia Consumer Spend on Metaverse by Device Trend Analysis, 2021-2030
12. Australia Consumer Spend on Metaverse by Hardware Devices
13. Further Reading
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 183 |
| Published | January 2023 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 1954.5 Million |
| Forecasted Market Value ( USD | $ 14700.6 Million |
| Compound Annual Growth Rate | 33.4% |
| Regions Covered | Australia |
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About the Metaverse Market
The Metaverse market is a rapidly growing sector of the computing industry. It is a virtual world, where users can interact with each other and with digital objects. It is a 3D environment, where users can create and explore virtual worlds, and engage in activities such as gaming, shopping, and socializing. It is a platform for creating and sharing digital content, and for developing applications and services. It is also a platform for virtual reality, augmented reality, and mixed reality Read more
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