Gaming Markets – Top providers operating in the Global Metaverse sector
The metaverse market was estimated at $65.51 billion in 2022 globally. It is expected to grow at a CAGR of 41.6% during 2023-2030. Certain factors that are expected to drive the growth of revenue include the expansion of Augmented Reality, Mixed Reality, and Virtual Reality.
Top Providers in the Metaverse Sector 2023
Metaverse includes an immersive three-dimensional virtual world experience that is obtained through technological advancements like Augmented Reality (AR) and Virtual Reality (VR). The platform elevates the overall IoT landscape with simulations of a pseudo-virtual world in which users engage in conducting businesses, immersive gaming, socializing, buying and selling virtual properties, and immersive entertainment factors like games. Top tech giants from the fraternity have been investing high dollars in developing games and apps that could leverage the Metaverse wave, thereby grabbing a major pie of the early revenue. Similarly, gambling platforms such as wetten.com have been collaborating with top manufacturers to publish new-age casino games that could wow players.
Facebook, Inc. (Meta)
Formerly known as Facebook, Meta is an American multimedia tech conglomerate which is headquartered in Menlo Park, California. The company owns Instagram, WhatsApp, and Facebook and offers metaverse services for multiple business verticals such as education, entertainment, gaming, and construction. Meta announced their partnership with Peres Carter in 2021 for Peace and Innovation in Israel. The partnership aimed at bringing the AR/VR startups and developers to unlock the metaverse.
NVIDIA is one of the top metaverse companies globally. The company designs multiple graphic processor units for gaming, professional markets, and global computing. It leverages its GPU architecture for creating meta platforms, AI, virtual reality, and high-performance computing. NVIDIA Corporation expanded the NVIDIA omniverse metaverse collaboration along with the simulation platform in August 2021. The platform focuses at delivering advanced experience by integration of Adobe and Blender. This 3D animation tool helps artists accessing the omniverse platform. While giants such as Nvidia have been striving to head the rat race, even simpler casino and arcade games available at popular sites, are in discussion to align themselves with the Metaverse trends.
Roblox Corporation was founded in 2004 and is an American video gaming developer headquartered in San Mateo, California. Till 2021, the company had 1600 employees and consists of millions of developers and creators who aim at producing immersive multiplayer content, some with Game Codes available, for inters experiences. Though Roblox studio, software and desktop tools, the company has a metaverse. Roblox also offers entertainment and online media platforms. Roblox Corporation acquired Sway, an application which puts emphasis on developing motion effects and Artificial Intelligence filters in 2021. Roblox Corporations had acquired a 3D avatar creator Loom in 2020 which eventually solidified the Metaverse capabilities. This acquisition majorly helped real time animation due to the advanced computer vision, neural networks and visual effects.
This Chinese multinational technology and entertainment company is based in Shenzhen, China. It is indeed one of the highest grossing companies offering a wide range of services like cloud computing, Fintech services, advertising, enterprising. Tencent Holdings Ltd. had updated its QQ Unreal game engine for Metaverse fans in 2020. This allows active users to socialize and interact with online games like Animal Crossing in the Metaverse ambience. The beta version of it also provides a 3 D space for users to interact. It also enables a 3D avatar for gamers during gameplay.
One of the top Metaverse companies, Microsoft, is a producer of personal computers, computer softwares, consumer electronics along with other services. Headquartered in Redmond, Washington, the company recently launched 3 cybersecurity services in 2022 for supporting improved protection against online threats, ransomware. A national campaign was also released by Microsoft along with the US Community universities which would be training and then hiring 250,000 individuals in their cybersecurity segment by 2025 to cope with the employment scarcity in the US.
Global gaming companies are heavily investing in the development of metaverse. There has been a rise in popularity for VR, AR headsets. By 2024, the global exports of these devices are expected to reach 76.7 million units and 34 million Virtual Reality headset installations are expected during the same span of time.