Metaverse Market in Finance to grow by USD 107.06 billion from 2022 to 2027|Integration with VR and AR platforms to boost the market growth- Technavio

NEW YORK, July 10, 2023 /PRNewswire/ — The metaverse market in finance size is estimated to increase by USD 107.06 billion from 2022 to 2027, with a CAGR of 21.33%, according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Metaverse Market in Finance 2023-2027: Vendor Analysis and Scope

The Metaverse Market report in Finance also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below –

Bank of America Corp., BNP Paribas SA, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase and Co., KB Financial Group Inc., Mogo Inc., National Bank of Kuwait S.A.K.P, NH Investment and Securities Co. Ltd., and Shinhan Financial Group Co. Ltd. Download Sample Report

Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of Metaverse Market in Finance

Metaverse Market in Finance – Market Segmentation

The market is segmented by components (hardware and software), end-user (brokerage firms, investment banks, commercial banks, and others)

• The market share growth by the hardware segment will be significant during the forecast period. The hardware segment is expected to register a strong CAGR in terms of revenue . Various types of headsets, smart glasses, and lenses are utilized to interface with the Metaverse platform. This can be a mobile or web-based experience. There are numerous ways that VR and AR can change the finance  industry , including in terms of data visualization, virtual trading, VR payments, and virtual branches. Financial transactions using smartphones and other mobile devices are on the rise, and AR can help customize and improve the client experience substantially. It can, for example, find all possible banking channels, thereby providing the user with targeted, location-based promotions and simplifying account management in general. 

Geographic Overview

The market is segmented by region (North America, Europe, APAC, South America, Middle East, and Africa). An analysis of key leading countries has been included.

• APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors in North America. The leading contributors to the market in the region are the US and Canada. The key factors driving the region’s market in the region are the presence of key vendors, growing investments in AR technology, rising adoption of technologically advanced applications, and strong research activities. For example, XRHealth, a virtual healthcare provider in the metaverse, raised USD 10 million to expand its services on the metaverse. Hence, such developments will create new growth opportunities for the vendors and will drive market growth in the region during the forecast period.

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Metaverse Market in Finance – Market Dynamic

Key Driver

The integration of VR and AR platforms is a key factor driving the market growth. Banks are planning to expand their presence in the metaverse, which will help them to offer better services to consumers. For instance, using VR glasses, customers will be able to handle all their banking and financial activities from anywhere. Furthermore, the advancement of these technologies will allow banks to manage the digital transition successfully. Hence these factors are expected to drive market growth during the forecast period.

Major Trends

Increasing focus on VR and AR is the major trend shaping the market. These applications enable users to use technology in a more user-friendly way and enhance the applicability of AR for customers. For instance, Google’s Project Glass provides access to various AR applications. The growing popularity of virtual fitting rooms is helping users choose the right size and reduce the chances of returns. Furthermore, there is the rapid expansion of AR and VR technologies in various fields. Hence, these emerging trends are expected to drive market growth during the forecast period.

Significant Challenges

The privacy and security concerns of metaverse are major challenges restricting market growth. The metaverse collects and processes vast amounts of information about users, which is a significant challenge for the users. The hackers gain access to the user’s device and can collect personal information illegally. Furthermore, there are privacy-related concerns associated with smart gear, such as smart glasses and VR headsets. Hence, these security concerns are expected to restrict market growth during the forecast period.

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What are the key data covered in this Metaverse Market in Finance report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Metaverse Market in Finance between 2023 and 2027
• Precise estimation of the size of the Metaverse Market in Finance and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the metaverse in the finance market across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Metaverse Market in Finance vendors

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Related Reports

The metaverse in e-commerce market is estimated to grow at a CAGR of 39.65% between 2022 and 2027. The size of the market is forecast to increase by USD 85,885.22 million. Furthermore, this report extensively covers market segmentation by platform (computer, mobile, and headset), technology (AR and VR, blockchain, mixed reality, and others), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The growing popularity of AR technology is a key factor driving the market growth during the forecast period.

The metaverse market size is estimated to grow by USD 1,152.35 billion between 2022 and 2027, accelerating at a CAGR of 40.6% during the forecast period. Furthermore, this report extensively covers market segmentation by the device (VR or AR devices and computing devices), component (hardware, software, and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The growing smartphone penetration and use of 5G is a key factor driving the market growth during the forecast period.

Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global metaverse market in finance 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global metaverse market in finance 2017 – 2021 ($ billion)

• 4.2 Component Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 – 2021 ($ billion)

• 4.3 End-user Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component – Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Hardware – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hardware – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Hardware – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Hardware – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hardware – Year-over-year growth 2022-2027 (%)

• 6.4 Software – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Software – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Software – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Software – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Software – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 43: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 44: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 45: Chart on Comparison by End-user
• Exhibit 46: Data Table on Comparison by End-user

• 7.3 Brokerage firms – Market size and forecast 2022-2027 
• Exhibit 47: Chart on Brokerage firms – Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Brokerage firms – Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Brokerage firms – Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Brokerage firms – Year-over-year growth 2022-2027 (%)

• 7.4 Investment banks – Market size and forecast 2022-2027 
• Exhibit 51: Chart on Investment banks – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Investment banks – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Investment banks – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Investment banks – Year-over-year growth 2022-2027 (%)

• 7.5 Commercial banks – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Commercial banks – Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Commercial banks – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Commercial banks – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Commercial banks – Year-over-year growth 2022-2027 (%)

• 7.6 Others – Market size and forecast 2022-2027 
• Exhibit 59: Chart on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by End-user 
• Exhibit 63: Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 69: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 73: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 77: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 81: Chart on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 89: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027 
• Exhibit 93: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027 
• Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 UK – Market size and forecast 2022-2027 
• Exhibit 101: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.12 Canada – Market size and forecast 2022-2027 
• Exhibit 105: Chart on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

• 11.2 Vendor landscape
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Bank of America Corp.
• Exhibit 116: Bank of America Corp. – Overview
• Exhibit 117: Bank of America Corp. – Business segments
• Exhibit 118: Bank of America Corp. – Key news
• Exhibit 119: Bank of America Corp. – Key offerings
• Exhibit 120: Bank of America Corp. – Segment focus

• 12.4 BNP Paribas SA
• Exhibit 121: BNP Paribas SA – Overview
• Exhibit 122: BNP Paribas SA – Business segments
• Exhibit 123: BNP Paribas SA – Key offerings
• Exhibit 124: BNP Paribas SA – Segment focus

• 12.5 HSBC Holdings Plc
• Exhibit 125: HSBC Holdings Plc – Overview
• Exhibit 126: HSBC Holdings Plc – Business segments
• Exhibit 127: HSBC Holdings Plc – Key news
• Exhibit 128: HSBC Holdings Plc – Key offerings
• Exhibit 129: HSBC Holdings Plc – Segment focus

• 12.6 IBK Industrial Bank of Korea 
• Exhibit 130: IBK Industrial Bank of Korea – Overview
• Exhibit 131: IBK Industrial Bank of Korea – Product / Service
• Exhibit 132: IBK Industrial Bank of Korea – Key offerings

• 12.7 JPMorgan Chase and Co. 
• Exhibit 133: JPMorgan Chase and Co. – Overview
• Exhibit 134: JPMorgan Chase and Co. – Business segments
• Exhibit 135: JPMorgan Chase and Co. – Key offerings
• Exhibit 136: JPMorgan Chase and Co. – Segment focus

• 12.8 KB Financial Group Inc.
• Exhibit 137: KB Financial Group Inc. – Overview
• Exhibit 138: KB Financial Group Inc. – Business segments
• Exhibit 139: KB Financial Group Inc. – Key offerings
• Exhibit 140: KB Financial Group Inc. – Segment focus

• 12.9 Mogo Inc.
• Exhibit 141: Mogo Inc. – Overview
• Exhibit 142: Mogo Inc. – Product / Service
• Exhibit 143: Mogo Inc. – Key offerings

• 12.10 National Bank of Kuwait S.A.K.P 
• Exhibit 144: National Bank of Kuwait S.A.K.P – Overview
• Exhibit 145: National Bank of Kuwait S.A.K.P – Business segments
• Exhibit 146: National Bank of Kuwait S.A.K.P – Key offerings
• Exhibit 147: National Bank of Kuwait S.A.K.P – Segment focus

• 12.11 NH Investment and Securities Co. Ltd. 
• Exhibit 148: NH Investment and Securities Co. Ltd. – Overview
• Exhibit 149: NH Investment and Securities Co. Ltd. – Product / Service
• Exhibit 150: NH Investment and Securities Co. Ltd. – Key offerings

• 12.12 Shinhan Financial Group Co. Ltd. 
• Exhibit 151: Shinhan Financial Group Co. Ltd. – Overview
• Exhibit 152: Shinhan Financial Group Co. Ltd. – Business segments
• Exhibit 153: Shinhan Financial Group Co. Ltd. – Key offerings
• Exhibit 154: Shinhan Financial Group Co. Ltd. – Segment focus

13 Appendix

• 13.2 Inclusions and exclusions checklist 
• Exhibit 155: Inclusions checklist
• Exhibit 156: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 157: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 158: Research methodology
• Exhibit 159: Validation techniques employed for market sizing
• Exhibit 160: Information sources

• 13.5 List of abbreviations
• Exhibit 161: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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