Vietnam Metaverse Market gaming segment holds the largest share that drive Market Growth by 2028
Growing interest in using the internet to connect physical
and digital worlds and the desire for cryptocurrency-based metaverse to buy
digital goods is expected to drive the market of the Vietnam metaverse market in
the forecast period of 2024-2028.
According to TechSci Research report,
Vietnam Metaverse Market-By Region, Competition, Forecast and Opportunities,
2028, the market is anticipated to register a robust growth during the forecast
period, 2024-2028. Due to the increased emphasis on fusing the virtual and
real worlds, as well as the country's growing use of smart devices and internet
access, the Vietnam Metaverse Market is expanding. Additionally, the Vietnam
Metaverse Market will benefit from the increasing development and uptake of
emerging technologies like digital twins, augmented reality and virtual
reality, the Internet of Things (IoT), and the use of real-time analytics made
possible by artificial intelligence (AI) in the coming years. It is projected
that the widespread usage of metaverse in different industries, including
private businesses, the government, media & entertainment, retail,
healthcare, and education, etc., will serve as a catalyst for the expansion of
the Vietnam Metaverse Market.
The metaverse market is segmented into
component, platform, technology, offerings, application, end user and region.
By component, the market is bifurcated into hardware, software, and service.
Based on platform, the market is segmented into desktop, mobile, and headsets.
Based on technology, the market is categorized into blockchain, virtual reality
(VR) & augmented reality (AR), mixed reality (MR), and others. The offerings
segment is categorized into virtual platforms, asset marketplaces, avatars, and financial
services. The application segment is categorized into gaming, online shopping,
content creation & social media, events & conference, testing and
inspection, and others. Depending on end user, the market is segregated into BFSI,
retail, manufacturing, media & entertainment, education, aerospace &
defense, and others.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on "Vietnam Metaverse Market”
Based on applications, gaming holds the largest share in the Vietnam Metaverse
Market and is expected to remain dominant in the forecast period. The key
prominent players such as Roblox, Decentraland, and Microsoft gaming are
increasing their dependency on virtual reality based 3-dimensional gaming
services to attract the social interactions in Generation Z and Generation
Alpha users more. The more realistic and ongoing developments and concepts like
play to earn in online gaming and the rising investment towards artificial
intelligence and mixed reality are some of the factors propelling the demand of
metaverse in the gaming industry.
Based on platform type, the desktop/laptop, mobile, and wearable
platform types are included in the metaverse market segmentation. In 2021, the
desktop/laptops category, which accounted for over USD 16 billion, led market
growth. Desktops' simplicity of use and the present level of innovation are key
contributors to the desktop market's high revenue creation. Further boosting
their use are gadgets like Oculus Quest and Valve Index that can only be used
with powerful desktop computers. Due to the increasing innovation in virtual
reality games as mobile applications, the mobile category is anticipated to
experience the quickest growth during the projection period.
Based on end user, due to massive adoption of
the metaverse deployment by numerous industry players, the media and
entertainment sectors currently hold the highest share in the Vietnam metaverse
market. The development of augmented reality (AR) and virtual reality (VR) in
gaming and social media applications allows media and entertainment organizations
to increase productivity and efficiency by building realism into their virtual
worlds. The industry is progressing next level as a result of the expanding
usage of cutting-edge gaming technologies, rising income levels, and changing
consumer entertainment preferences.
Key market players in the metaverse market:
- Hyperlink InfoSystem
- Wizeline Vietnam Company Limited
(Vietnam)
- Vmodev IT Group
- InspiLab
- Ventuso LLC
- SICLO Mobile
- Savvycom Vietnam
- Elinext IT Solutions Ltd.
- Waverley Software Vietnam
The metaverse, however still in its
infancy, is considered as a chance for Southeast Asian game companies.
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“The Vietnam Metaverse Market is expected to grow in the
coming years because of ongoing developments in blockchain-enabled
decentralization strategies that will break down provider’s barriers. A driving
forces of the industry in Vietnam are extensive demand for data traceability,
security, and confidence in a business network for the acquisition of
non-fungible tokens for digital assets. Significant market drivers for the
expansion of the metaverse market include the growing integration of digital
platforms with day-to-day operations and the rising consumer adoption of AR,
VR, and mixed reality, particularly in the context of art and leisure
activities” said, Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Vietnam Metaverse Market By Component
Type (Hardware, Software, Services), By Platform Type (Desktop, Mobile,
Headsets), By Technology (Blockchain,
Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR), Others),
By Offerings (Virtual Platforms, Asset Marketplaces, Avatars, Financial
Services), By Application (Gaming, Online Shopping, Content Creation &
Social Media, Events & Conference, Testing and Inspection, Others), By End
User (BFSI, Retail, Manufacturing, Media & Entertainment, Education,
Aerospace & Defense, Others), By Region, Competition, Forecast and
Opportunities, 2028” has
evaluated the future growth potential of Location- based services market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in metaverse market.
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