The global metaverse market was valued at USD 51.69 billion in 2021 and it is estimated to surpass around USD 1.3 trillion by 2030 with a registered CAGR of 44.5% during the forecast period 2022 to 2030.
Investments in the Metaverse industry are rising rapidly. Apart from gaming, many new applications are emerging. “Metaverse is generally thought to be just the immersive VR. However, MR will also play an important part in this industry. There are industries and applications that will use a mix of VR and AR based on requirements.”
“In the Metaverse ecosystem, VR/MR technology and Avatars will play the most important part. As most of the things are moving towards the virtual world, there are probabilities that in the coming future, one will be able to visit places, attend concerts, meet people and do much more by the help of Avatars.