Home / Technology / Article / Aided by gaming, global metaverse market expected to reach $28 bn by 2028: Report

Aided by gaming, global metaverse market expected to reach $28 bn by 2028: Report

Playing in the metaverse allows gamers to meet new people and expand their social circle and have portable game assets, such as avatars and weapons, that are associated with players and have value in virtual settings

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Image for representational purpose only.

Image for representational purpose only.

The number of gamers around the world are increasing by the day and it comes at a time when the interest in the metaverse is also making many people want to be a part of it. It is only natural that both of them are going to co-exist and fuel the global metaverse industry. According to a new report, this very market is projected to reach $28 billion by 2028, from $510 million this year, at a compound annual growth rate (CAGR) of 95 per cent. With the medium being very interactive, it is actually only get more popular especially for games such as Roblox. 

According to Valuates Reports, the growth of the metaverse market is expected to be aided by the expansion of the metaverse on social media platforms. "Based on application, the game industry is expected to be the most profitable. In order to participate in next-generation gaming, players are venturing into the real world of metaverse," the report noted.

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