Exploring the future: 20 Metaverse stats for 2024

By now, if you’re in the digital space, you will have likely heard of the Metaverse. But what exactly is it?

The Metaverse is an immersive virtual world where players adhere to an avatar and interact with friends, play games, complete tasks, or even work.

Interest in the Metaverse dramatically increased in late 2021 after Facebook announced that it was rebranding to Meta, to prepare for the upcoming shift from ‘normal’ social browsing, to a ‘ready player one’ style world. So much so, that internet searches for ‘Metaverse’ went from less than 3,000 monthly searches to over 280,000 in December 2021.

(Source: Google Trends)

Interestingly, Author Neal Stephenson predicted the Metaverse in his novel  ‘Snow Crash’ in 1992 and was the first person to use the phrase. But what does this mean for the future?

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Read these 20 Metaverse stats explore the future that awaits:

General stats

1. As of 2024, Metaverse has more than 600 million active users worldwide.
2. 80% of metaverse users to date, are younger than 16.
3. The most popular metaverse game is Roblox, with 55 million active players every day.
4. We know that VR headsets can be expensive which limits Metaverse players, with 50% of US adults saying lower-priced VR headsets will accelerate the use of the Metaverse
5. Sales of extended reality (XR) headsets such as Meta Quest 2, are expected to triple  by 2025
6. We know that upon Facebook’s rebrand to Meta, awareness of the Metaverse rocketed, but currently, almost one-third of the US population has never heard of the Metaverse
7. Addiction is perceived to be one of the largest potential dangers of the Metaverse, with the top concern being tracking and misuse of personal data.
8. The average Value per user is projected to be around S$79.50, holding significant value potential worldwide.
9. The Metaverse will be an aspect of the daily lives of half a billion people worldwide by 2040 according to 54% of industry experts.
10. 39% of Adults in the US stated that the Metaverse could help them to engage in activities they previously wouldn’t have been able to do, such as travelling the world.

People are joining the Metaverse a lot more than gaming

1. 60% of gamers have used the metaverse for non-gaming activities such as socialising and shopping.
2. Around 52% of internet users around the world join the Metaverse for work
3. 48% are part of the Metaverse for entertainment
4. 32% for socialising and online dating
5. Taking all of the different uses into account, approximately 25% of all users will spend a minimum of one hour in the Metaverse per day in 2026.

The Metaverse market and investments

1. The Metaverse market was valued at a staggering $61.8 billion in 2022 and is due to reach $824.53 billion by 2030, according to EarthWeb.
2. Meta’s Reality Labs segment invested $10 billion into the Metaverse
3. The gaming market associated with the Metaverse is expected to increase by 38% each year through 2027
4. By the end of 2024, $18 billion is predicted to be invested in AR/VR gaming technology
5. Sectors such as Computer and IT (17%) and education (12%) are already aggressively investing in the Metaverse.

Is the Metaverse the future?

These stats should help you to understand more about the Metaverse and the power it can hold in our future.

At Embryo, we’re known for seeing things that others don’t and our team of Digital Marketing Experts are on hand to help your business to grow.

Want to know more about how we can support you with our Digital Marketing Services? Get in touch, we’ll be happy to help.

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Sources:

• https://connect.comptia.org/blog/metaverse-statistics-facts-stats-market-size-and-future
• https://earthweb.com/metaverse-market-size/
• https://earthweb.com/metaverse-statistics/
• https://www.gartner.com/en/newsroom/press-releases/2022-02-07-gartner-predicts-25-percent-of-people-will-spend-at-least-one-hour-per-day-in-the-metaverse-by-2026
• https://www.statista.com/statistics/1098345/worldwide-ar-vr-investment-use-case/
• https://explodingtopics.com/blog/metaverse-stats
• https://www.ipsos.com/sites/default/files/ct/news/documents/2022-01/Data%20Tables%20to%20Accompany%20Release_1.pdf
• https://uk.pcmag.com/news/137490/metaverse-predictions-it-will-be-harmful-addictive-and-inevitable
• https://www.demandsage.com/metaverse-statistics/