US metaverse market to soar to $110B by 2028, fueled by Gen Z, Alpha usage
The metaverse market in the United States is set to expand to a projected value of $110.44 billion by 2028, according to the latest metaverse report by Research and Markets. According to the analysis, the U.S. market, valued at $16.69 billion, is poised for remarkable growth, with a forecasted compound annual growth rate (CAGR) of 37%. As the report details, this significant upsurge is driven by substantial investments in advanced technologies and a pivotal shift in Gen Z and Gen Alpha metaverse usage. The report elaborates on the metaverse as the forthcoming evolution of the internet – a unified, 3D virtual space where digital and physical worlds merge. At its nascent stage, the metaverse is rapidly taking a vital role in the business landscape, fostering collaborative and innovative ventures while offering real-time insights. The report also identifies the escalating use of cryptocurrencies for purchasing digital assets as a critical growth driver in the U.S. It emphasizes how crypto and non-fungible tokens (NFTs) are crucial in supporting blockchain-based metaverse platforms, thus enabling users to create, own, and trade digital assets in novel ways.
