The global metaverse market is forecast to record a compound annual growth rate of 39.8%, to reach $996 billion in 2030.
These developments and initiatives around the deployment of the metaverse are likely to fuel the market in the coming months, notes the report. Furthermore, big tech firms are championing the metaverse, with Microsoft and Meta promoting it as the ideal environment to support hybrid working. “Telcos are, by and large, keen to understand the lay of the land and invest in exploration with start-ups as potential partners. Mergers and acquisitions activity is picking up, with access to technology being the key rationale for most deals. Providers of AR, VR, AI and blockchain solutions are becoming prime targets as acquirers aim to develop novel experiences.”
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