Report Description

Vietnam Metaverse Market is anticipated to grow at a high CAGR in the forecast period 2024-2028. The growing investment in cutting-edge technologies across the area by key significant players to advance metaverse technology and boosting the effective information technology (IT) expenses by utilising cloud computing services is driving the market in Vietnam. The increasing adoption of advanced virtual reality, 3D simulation, augmented reality, 5G infrastructure, and use of real-time analytics is made possible by artificial intelligence (AI) and machine learning (ML) across the nation in the forecast years contributing towards the market's growth. As digitization takes hold and technology increasingly serves as a catalyst for excellence, the Vietnam Metaverse Market is anticipated to grow over the course of the projected period.

The name "Metaverse," a combination of "meta" and "universe," refering to a fictitious iteration of the internet: a single, shared, immersive, lasting, 3D virtual realm where people may interact with one another and experience life in a way that is not possible in the real world. The metaverse is a convergence of technologies that enables communities of people to share in the experience of a virtual environment. Although it is still in its infancy, technology is swiftly evolving into a vital component of the industry. Faster, better co-creation, and collaboration are made possible by metaverse, opening the door to new business options, deeper insights, and more efficient training and testing.

Companies are already profiting from the ability of the metaverse to provide real-time information from connected devices and systems, user engagements, creative advertising, simple transactions, and virtual event opportunities everywhere. The metaverse, which provides permanent, decentralized, collaborative, and interoperable opportunities and business models, will enable organisations to grow their digital businesses. Extended reality, the Internet of Things, artificial intelligence, blockchain, and 3D reconstruction are some key technologies that enable the potential in the metaverse sector.

An increasing focus on integrating digital and physical worlds using the Internet

Metaverse, a cosmos outside of reality, is expanding due to an increased focus by many businesses on fusing the digital and physical worlds together online. A number of customer service-related companies employ metaverse to improve the customer experience by assisting the consumers with cutting-edge technologies like digital twins and 3D reconstructions. Additionally, businesses may use applications for virtual reality, blockchain, remote monitoring, skill development, and real-time data analysis due to construction of 5G infrastructure.

To connect brands with metaverse, for instance, the “metaverse global congress” was hosted. The event’s objectives included learning about new potential for virtual meeting spaces, AR and VR learning, digital commodities, and virtual shops. Therefore, many industries are attempting to integrate them into their operations to meet the growing consumer demand and achieve better response anticipating the demand of metaverse in the market. These benefits include enhancing application performance and business efficiency with cost and time effectiveness.

Rising demands in the media and entertainment industry

The media and entertainment sector, which is growing at an exponential rate, is rapidly adopting augmented reality (AR) and virtual reality (VR). One of the primary factors driving the increase in the use of these technologies is the creation of realistic virtual environments to improve the overall gaming experience. The ability to present a first-person perspective, enable 6-degree freedom, and depict a natural user interface (UI) in devices like MR headsets, VR headsets, Heads Up Displays (HUD), Helmet Mounted Displays (HMD), smart helmets, and smart eyewear boosts their acceptance rate.

User interface designs have become more diverse as a result of the introduction of these devices and solutions provided. The market's leading competitors have made large expenditures as a result of the rapidly expanding demand for mixed reality technology. These elements are propelling Vietnam Metaverse Market's trajectory of revenue growth.


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Market Segmentation

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.

Market Player

Major market players in the Vietnam metaverse market are Hyperlink InfoSystem, Wizeline Vietnam Company Limited (Vietnam), Vmodev IT Group, InspiLab, Ventuso LLC, SICLO Mobile, Savvycom Vietnam, Elinext IT Solutions Ltd., Waverley Software Vietnam.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2024-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Component Type

By Platform

By Technology

By Offerings

By Application

By End User

Regional scope

Vietnam

Country scope

Northern Vietnam, Central Vietnam, Southern Vietnam

Key companies profiled

Hyperlink InfoSystem, Wizeline Vietnam Company Limited (Vietnam), Vmodev IT Group, InspiLab, Ventuso LLC, SICLO Mobile, Savvycom Vietnam, Elinext IT Solutions Ltd., Waverley Software Vietnam

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Vietnam metaverse market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

      ·         Vietnam Metaverse Market, By Component Type:

o   Hardware

o   Software

o   Services

      ·         Vietnam Metaverse Market, By Platform Type:

o   Desktop

o   Mobile

o   Headsets

      ·         Vietnam Metaverse Market, By Technology:

o   Blockchain

o   Virtual Reality (VR) & Augmented Reality (AR)

o   Mixed Reality (MR)

o   Others

      ·         Vietnam Metaverse Market, By Offerings:

o   Virtual Platforms

o   Asset Marketplaces

o   Avatars

o   Financial Services

      ·         Vietnam Metaverse Market, By Application:

o   Gaming

o   Online Shopping

o   Content Creation & Social Media

o   Events & Conference

o   Testing and Inspection

o   Others

      ·         Vietnam Metaverse Market, By End User:

o   BFSI

o   Retail

o   Manufacturing

o   Media & Entertainment

o   Education

o   Aerospace & Defense

o   Others

       ·         Vietnam Metaverse Market, By Region:

o   Northern Vietnam

o   Central Vietnam

o   Southern Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam metaverse market.

Available Customizations:

Global metaverse market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
The Vietnam metaverse market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected] 

Table of content

1.    Service Overview

1.1.     Market Definition

1.2.     Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3.    Impact of COVID-19 on Vietnam Metaverse Market

4.    Executive Summary

5.    Voice of Customers

5.1. Brand Awareness

5.2. Major Benefits from the adoption of Metaverse

5.3. Key Satisfaction Level

5.4. Major Challenges Faced by Customers

5.5. Factors Considered for Selecting Vendors

5.6. Key Services in Use

6.    Vietnam Metaverse Market Outlook

6.1. Market Size & Forecast

6.1.1.    By Value

6.2. Market Share & Forecast

6.2.1.    By Component (Hardware, Software, Service)

6.2.2.    By Platform (Desktop, Mobile, Headsets)

6.2.3.    By Technology (Blockchain, VR & AR, Mixed Reality, Others)

6.2.4.    By Offerings (Virtual Platforms, Asset Marketplaces, Avatars, Financial Services)

6.2.5.    By Application (Gaming, Online Shopping, Content Creation & Social Media, Events & Conference, Testing and Inspection, Others)

6.2.6.    By End User (BFSI, Retail, Manufacturing, Media & Entertainment, Education, Aerospace & Defense, Others)

6.2.7.    By Region (Northern Vietnam, Central Vietnam, Southern Vietnam)

6.3. Market Map

7.    Northern Vietnam Metaverse Market Outlook

7.1. Market Size & Forecast

7.1.1.    By Value

7.2. Market Share & Forecast

7.2.1.    By Component

7.2.2.    By Platform

7.2.3.    By Technology

7.2.4.    By Offerings

7.2.5.    By Application

7.2.6.    By End User

8.    Central Vietnam Metaverse Market Outlook

8.1. Market Size & Forecast

8.1.1.    By Value

8.2. Market Share & Forecast

8.2.1.    By Component

8.2.2.    By Platform

8.2.3.    By Technology

8.2.4.    By Offerings

8.2.5.    By Application

8.2.6.    By End User

9.    Southern Vietnam Metaverse Market Outlook

9.1. Market Size & Forecast

9.1.1.    By Value

9.2. Market Share & Forecast

9.2.1.    By Component

9.2.2.    By Platform

9.2.3.    By Technology

9.2.4.    By Offerings

9.2.5.    By Application

9.2.6.    By End User

10. Market Dynamics

10.1.           Drivers

10.1.1. Increasing focus on integrating digital and physical worlds using the Internet

10.1.2. Rising demands in the media and entertainment industry

10.1.3. Growing demand for metaverse to purchase digital assets using cryptocurrencies

10.2.           Challenges

10.2.1. The threat of cyber-based attacks targeting the metaverse is a primary concern

10.2.2. Heavy cost of installation and maintenance of meta components

11. Market Trends & Developments

11.1.           Introduction of AI Technologies in devices

11.2.           Blockchain-enabled decentralization

11.3.           Innovation in communication infrastructure and other technology

11.4.           Levels of metaverse usage by Gen Z users and Gen Alpha

11.5.           Covid-19 pandemic contributed to the advent of the metaverse

12. Policy & Regulatory Landscape

13. Vietnam Economic Profile

14. Company Profiles

14.1.           Hyperlink InfoSystem

14.1.1. Business Overview

14.1.2. Key Revenue and Financials

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.2.           Wizeline Vietnam Company Limited (Vietnam)

14.2.1. Business Overview

14.2.2. Key Revenue and Financials

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.3.           Vmodev IT Group

14.3.1. Business Overview

14.3.2. Key Revenue and Financials

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.4.           InspiLab

14.4.1. Business Overview

14.4.2. Key Revenue and Financials

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.5.           Ventuso LLC

14.5.1. Business Overview

14.5.2. Key Revenue and Financials

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.6.           SICLO Mobile

14.6.1. Business Overview

14.6.2. Key Revenue and Financials

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.7.           Savvycom Vietnam

14.7.1. Business Overview

14.7.2. Key Revenue and Financials

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.8.           Elinext IT Solutions Ltd.

14.8.1. Business Overview

14.8.2. Key Revenue and Financials

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.9.           Waverley Software Vietnam

14.9.1. Business Overview

14.9.2. Key Revenue and Financials

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

15. Strategic Recommendations

15.1.           Fastest Growing Market by Technology

15.2.           Dominating Market by Component

15.3.           Dominating Market by Region

About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Hyperlink InfoSystem, Wizeline Vietnam Company Limited (Vietnam), Vmodev IT Group, InspiLab, Ventuso LLC, SICLO Mobile, Savvycom Vietnam, Elinext IT Solutions Ltd., Waverley Software Vietnam.

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In the metaverse, there are already over a dozen sites offering real estate for sale, with new ones appearing almost regularly. Sandbox, Decentraland, Cryptovoxels, and Somnium are the "Big Four" that have dominated real estate transactions thus far. On the four platforms, there are a total of 268,645 parcels of various sizes.

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An increasing focus on integrating digital and physical worlds using the Internet, Rising demands in the media and entertainment industry are the main drivers of the metaverse market

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Metaverse has many challenges, such as the threat of cyber-based attacks targeting the metaverse is a primary concern, along with heavy cost of installation and maintenance of meta components.

profile

Sakshi Bajaal

Business Consultant
Press Release

Vietnam Metaverse Market gaming segment holds the largest share that drive Market Growth by 2028

May, 2023

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 met