The US Metaverse Market Poised for Huge Growth

The US Metaverse market is poised for significant growth, with the industry projected to reach US$51,435.7 million in 2023, expanding at a CAGR of 32.9% from 2023-2030. Brands across industry verticals are leveraging the metaverse to engage with consumers, while investment in infrastructure continues to rise.

Projected Growth of the US Metaverse Market

ResearchAndMarkets.com’s “United States Metaverse Market Intelligence and Future Growth Dynamics Databook” report indicates a steady growth trajectory for the US Metaverse industry, with a value increase from US$35,688.1 million in 2022 to US$375,700.0 million by 2030. The metaverse’s popularity among US consumers has spurred significant innovation in the industry.

Brands Utilizing the Metaverse for Consumer Engagement

Brands such as Cheetos, Visa, Maybelline, PacSun, TCL Electronics, and Victoria’s Secret are embracing metaverse integrations and activations to reach and engage new audiences. For example, Frito-Lay launched the Cheetos-themed digital neighborhood Centerville, while Visa created a hybrid experience for the 2022 FIFA World Cup to showcase its money movement innovations.

Investments in Metaverse Infrastructure

Tech giants like Meta, formerly Facebook, are investing heavily in metaverse infrastructure, with Meta’s spending estimated to reach US$100 billion over the next five years. Acquisitions, such as UK-based Audio Analytic and Berlin-based Loft, are part of Meta’s strategy to build an ecosystem that enhances customer experience in the metaverse.

Retailers Entering the Metaverse with Innovative Marketplaces

US-based retailers like Nike and Walmart are launching metaverse marketplaces to attract Gen Z consumers. Nike’s “.Swoosh” marketplace enables customers to collect and trade virtual products, while Walmart’s collaboration with Roblox resulted in the launch of Walmart Land and Universe of Play.