The metaverse has become a hot topic of 2022, so are you curious to learn more about it?
To uncover facts about the metaverse, we’ve compiled a list of research-backed metaverse statistics to show its market size, the number of users, industry data, demographics information, industry trends, and so much more.
Ready to dive into the latest statistics about the metaverse? Let’s begin.
Key Metaverse Statistics & Facts in 2022
- The metaverse market was worth $478.7 billion in 2020 and is expected to be worth $800 billion by 2024
- By 2026, 25% of people will spend an hour in the metaverse and 30% of companies will offer services and products for the metaverse
- The metaverse market is expected to grow 13.1% every year
- 74% of US adults are joining or considering joining the metaverse
- Meta (Facebook) has invested more than $10 billion into the metaverse
- The market cap of Web 2.0 metaverse companies is $14.8 trillion
What is metaverse? The concept of metaverse explained
Metaverse is a complex term because it encompasses a great deal. According to a recent article in Wired magazine, the term metaverse is nearly interchangeable with the idea of cyberspace.
The metaverse includes virtual reality, or VR, for example, wearing an Oculus Rift headset to explore these worlds that exist online. The term also includes augmented realities, or AR, that combine both the digital and physical worlds, like Snapchat filters or Pokemon Go.
While the Metaverse is exploding in popularity today, it’s not an entirely new concept. Ivan Sutherland and his team built the first modern VR system at Harvard back in 1968.
Since then, the metaverse has stretched into nearly every industry including real estate, gaming, fashion, events, and education—thus attracting plenty of users along the way.
How many users are in the metaverse?
1. 74% of US adults are joining or considering joining the metaverse.
Almost three-fourths of the US population is on board for joining the metaverse. Why so many? The top reasons for joining the metaverse are to experience things they can’t in physical reality (41%), to communicate with others in the metaverse (40%), and to escape their physical surroundings (28%). These interests provide a wide metaverse user demographic range.
2. By 2026, 25% of people will spend an hour per day in the metaverse
Gartner reports that 25% of people will spend an hour per day in the metaverse by 2026 for work, shopping, education, entertainment, and social. What’s more, 30% of organisations in the world will have products and services ready for metaverse.
3. 1.73B people are projected to use mobile AR by 2024
Since 2015, AR has attracted 1.5B users. This year in 2022, there will be an estimated 1.07B AR users worldwide. While virtual reality (VR) creates an immersive artificial environment, AR leverages the real world by overlaying new information on top of it. This can be accomplished on most smart mobile devices or via new AR headsets.
4. 64M Americans are projected to use VR in 2022
So, how many people use VR? 64M will use it this year and reports claim 65.9M Americans will use it in 2023. Approximately 58.9M, or 17.7% of the US population, jumped into the metaverse every month of 2021.
5. The number of daily VR users doubled since 2018
The amount of VR users gravitating to the metaverse daily has increased substantially to 23% in 2021. In 2018, only 15% of these VR users made daily use of this technology. Last year, 20% indicated using VR monthly and 31% used it weekly.
6. Metaverse gamers are 59% male and 38% are aged 10-20
Metaverse user demographics of gamers might be even younger than you think. According to a survey of 5,521 metaverse gamers, the largest group of users of the top 3 games (Minecraft, Fortnite, and Roblox) are under the age of 20.
7. There are only 50,000 users of Web 3.0 virtual worlds
Web3, aka Web 3.0, is the idea of a new “World Wide Web” and virtual world that is based on blockchain technology, machine learning, and artificial intelligence. Worldwide as of today, only 50,000 users have adopted this newer part of the metaverse. This is small when compared to users of gaming/eSports (250M) or Facebook (2.97B).
What is the market size of the metaverse?
8. The metaverse market was worth $478.7 billion in 2020—and is growing
Just two years ago, Bloomberg reported that the metaverse was worth a whopping $478.7B based on a compound annual growth rate of 13.1%. The publication suspects that the market size of the metaverse is growing so rapidly because video game makers are rethinking 3D online worlds and turning them into social networks. They are even capturing live entertainment, like concerts and sporting events (more on that later).
9. The metaverse market is expected to be worth $800 billion by 2024
What is the metaverse market worth? By 2024, experts are estimating it’ll be worth nearly $800B. The total metaverse market size is expected to reach 2.7x the revenue of gaming software, services, and advertising.
10. With a forecasted CAGR of 44.1%, the metaverse market size is expanding
(Reports and Data)
Another study shows that the global metaverse market is set to register a revenue CAGR, or compound annual growth rate, of almost 50% by 2028. By that time, the metaverse market is expected to be worth over $872B.
11. By 2030, the Metaverse market will be worth between $8T and $30T
Thanks to its flexible and endless nature, the metaverse is absorbing market share from personal computers, game consoles, smartphones, headsets, and beyond. This large ecosystem is device-agnostic making its total addressable market larger than ever. This 2030 market share estimate comes from a forecasted metaverse user base of 5B.
12. Every year, $54B is spent on virtual goods in the metaverse
That amount is almost double the amount that is spent on buying music each year. Users of the metaverse can monetize their activities by using new methods to transact, like digital currencies and NFTs, and own digital goods. Metaverse digital goods include everything from digital real estate to Air Jordans you can wear online to skins for video game characters.
13. Facebook’s Metaverse is predicted to generate 3.1B in 2022
Game analytics firm App Annie predicts that Metaverse gaming apps will generate over 3B in 2022. Robolox is leading the metaverse games space for downloads and consumer spend with Minecraft coming in on second place.
14. The market cap of Web 2.0 metaverse companies is $14.8 trillion
While Web 3.0 is still growing, the Web 2.0 Metaverse was reportedly worth almost $15T in 2021. This is tenfold compared to the market capitalization of gaming and eSports ($1.98T) and Facebook ($0.9T).
How many metaverses are there?
15. There are many metaverses out there, but 7 key stocks in 2022
(Yahoo, Forkast News)
Which is the most popular metaverse? It’s hard to tell, but Decentraland attracted 300,000 users monthly in 2020. There are 7 big companies investing in the metaverse when observing their stocks. These include Alphabet (GOOG), Meta (FB), Nvidia (NVDA), Roblox (RBLX), Snap (SNAP), Microsoft (MSFT), and Adobe Systems (ADBE).
16. It’s hard to predict how many metaverses there will be; here’s why
How many metaverses will there be? Citi suggests that consumer hardware manufacturers will continue to be portals to the Metaverse and could become potential gatekeepers. It’s likely to assume there will be a divide between a U.S./international and a China/firewall-based Metaverse. Plus, the number of metaverses continues to split when considering the range of those based on technology and business versus those that are decentralized.
Who will create the metaverse?
17. 160+ companies are building the metaverse
160+ companies are building the metaverse. Nearly all large corporations are investing in the metaverse in some capacity. Between AR and VR, business opportunities are virtually endless. Some of the most notable companies building the metaverses of tomorrow include:
- Epic Games, the company behind Fortnite that raised $1B in funding
- Facebook (Meta) is creating metaverse software, hardware, and social aspects
- Niantic, the company behind Pokemon Go that recently raised $300M
- Microsoft, who acquired Activision Blizzard for $67.8B to enter the gaming industry
- Decentraland was incepted in 2017 and sold a piece of virtual real estate for $2.4M
- And many, many more
What companies are in the metaverse?
18. The majority of large, global companies are rushing to enter the space
According to a report, global brands are viewing the metaverse as a new opportunity to engage more deeply and creatively with its consumers—and unlock new revenue streams. Many companies have found ways to get involved, but some companies doing interesting things include:
(Footwear News, Fool.com)
- Gucci attracted 19M visitors to the Gucci Garden within the Roblox metaverse
- Nike launched “Nikeland,” a place in Roblox to play games, socialize and dress their avatars in digital goods like Air Jordans and Nike Blazers.
- Acura was the first to build a virtual car showroom via Decentraland
- Walmart has plans to offer virtual currency and NFTs
- Dolce & Gabanna created a 9-piece collection of NFTs sold alongside real-world couture
- Estee Lauder took Decentraland’s MetaVerse Fashion Week by storm offering NFTs that provided avatars a “magical glow” to resemble their famous facial night creme
- JP Morgan Chase acquired land with The Sandbox intended to “create innovative brand experiences” for its customers in the future
Metaverse trend statistics
Let’s look at some trends in how the metaverse is shaping the future of entertainment, real estate, and shopping.
19. Travis Scott hosted a concert with 12.3M live viewers in 2020
Famous rapper, Travis Scott, surpassed any Fornite performer when he attracted 12.3M live viewers inside the Epic Game metaverse. This set an all-time record that today’s artists have yet to beat. The appearance was only 15 minutes, although its raging success encouraged Epic Games to set four additional “tour” dates for this metaverse worldwide concert. Some other metaverse musicians have included Ariana Grande, Marshmello, and The Chainsmokers.
20. Last year, people spent $501M in metaverse real estate
And that was in 2021. This year, analytics firms are suspecting this number to double. The four key players in real estate within the metaverse include Sandbox, Decentraland, Cryptovoxels, and Somnium. Between them, the metaverse real estate market is projected to grow at a compound annual rate of 31% per year from now until 2028.
21. Snoop Dogg’s “Snoopverse” brought in $14M of revenue on its first day
(The Crypto Times, Rolling Stone)
The Snoopverse launched in The Sandbox with 122 LANDS, 67 premium LANDS, exclusive NFTs, and three small estates. The rapper Snoop Dogg is building a digital recreation of his California mansion here to host virtual parties, so someone paid $450,000 to be his neighbor.
22. 27% of US internet users are interested in trying AR/VR before purchasing clothes
AR and VR are bound to change the way the world shops and make (hopefully) smarter purchasing decisions. While over a quarter of US internet users would use it to help shop for clothes, others want its help to purchase furniture (23%), technologies and home appliances (22%), and video games (18%).
23. 38% of people would only try extreme sports in the metaverse
In a 2021 survey of 1,050 respondents, 38% admitted that they would only skydive, bungee jump, or paraglide inside of the metaverse. Other things that people said they would do in the metaverse but not in real life include spending a lot of money on collectibles (23%), big game hunting (22%), and adult games that involve violence or sex (20%).
24. 16% of US adults “strongly agree” that life would be more fun in the metaverse than in real life
Would it be more fun to live inside the metaverse? Many agree so. In addition to the 15% above, 21% somewhat agree with the statement. Likewise, a similar 15% strongly agree and 23% somewhat agree that the metaverse would make life better.
25. IMVU users spend $7M per month on digital goods for the metaverse
(Harvard Business Review)
The avatar-based social network, IMVU, has about 7 million users per month. This includes thousands of creators who design and sell digital goods for metaverse users to own (online). These digital goods range everywhere from avatar skins to pets to designer goods.
Meanwhile, the metaverse is also changing the way we work. Here are trends in education and employment.
26. 1B people need to be “reskilled” by 2030—and the metaverse can help
(World Economic Forum)
By 2024, 42% of the core skills required by today’s jobs are expected to change. Companies are expected to require workers to offer more high-tech and specialized interpersonal skills. Of the approximated 3B jobs worldwide, one-third of them will be transformed by technology within the decade. As a result, companies are looking to the metaverse to help upskill workers.
27. 90% of executives think their current training methods need updating
Both executives and employees are on the same page. 94% of workers said they would remain at a company longer if it invested in their career development. The global consulting firm, Accenture, recently invested in Strivr, a global leader in enterprise-scale VR solutions. In April 2022, Strivr announced its latest $35M Series B round that attracted other notable investors like Bank of America because of its work to expand employee training into the metaverse.
What does Meta (Facebook) have to do with the metaverse?
28. Meta (Facebook) invested over $10B into its metaverse division last year
(New York Times)
Naturally, Facebook claimed that it was going “all in” on the metaverse when it rebranded to its new name, Meta. In 2021, the company invested over $10B into its own Facebook Reality Labs. This metaverse division is developing AR and VR hardware, software, and content.
29. Does Mark Zuckerberg own the metaverse? In short, no.
Zuckerberg may control Facebook’s metaverse, but there are plenty of other virtual worlds to choose from unaffiliated with him.
30. What is the Facebook metaverse?
Facebook is creating its own metaverse designed to be social. The Facebook Metaverse is planned to be a closely interconnected group of digital spaces where users can explore, engage, and collaborate with one another. According to the Meta About page, these 3D spaces will span gaming, exercise, work, education, eCommerce, and entertainment.
What are the downsides of metaverse?
31. Of 10,000 Cryptopunk avatars, lighter-skinned ones traded higher than mid to dark-toned ones
A popular collection of NFTs, called Cryptopunks, released an exclusive 10,000 avatars. These ranged from human-esque to alien in nature. However, when experts broke down how much each sold for, those with lighter skin sold for higher amounts. Why? People believe that’s because metaverse users are mostly white males. Male avatars also sold higher than female ones, despite being more rare.
32. Mining bitcoins and keeping the network running uses more energy than Belgium in a year
It’s not hard to imagine: the metaverse consumes vast amounts of energy. Metaverse users are continually running power to participate—sometimes rivaling the energy output of entire countries. One bitcoin miner in America pays over $1,000/month in energy.
33. 23% of US adults want to become a different person from their real self
While having the opportunity to transform yourself has positive aspects, some people may see this as a downside. The concept of body positivity and self-care are driving forces in today’s culture so the metaverse may sway this perspective. Playing a role online can become consuming and may lead to increased self-loathing in the real world.
34. 14% of users would engage in hate speech, but only in the metaverse
Over 1,000 adults were asked what activities they would do in the metaverse but never do in real life. Alongside hate speech, 18% said they would watch virtual executions, 19% would watch virtual gladiators fight to the death, and 18% would conduct unethical experiments on virtual humans. While these wrongful acts would only exist virtually, it opens up a dark side to the metaverse.
35. Only 28% of US adults foresee educational opportunities
Considering the endless educational opportunities that the metaverse presents, the fact that less than one-third of American adults envision it being used for such purposes is disappointing. As of 2022, the main reasons for using the metaverse are to escape reality, instead of improving reality.
36. Almost one-third of US adults are “very unfavorable” of Mark Zuckerberg
As of November 2021, 32% of adults surveyed really disliked Mark Zuckerberg, the co-founder and CEO of Meta (formerly Facebook). Only 6% claimed to be “very favorable” and 24% don’t know how to feel about him.
Over to you!
That’s all. These are the top metaverse statistics.
What statistic surprised you the most?
Let me know in the comments below!