Metaverse Market for Automotive by Products (Software, Hardware), Technology (Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), Non-fungible Token (NFT), Blockchain), Function, Application & Region - Global Forecast to 2030
The global metaverse market for automotive is projected to grow from USD 1.9 billion in 2022 to USD 16.5 billion by 2030, at a CAGR of 31.4%.
Automotive OEMs, Hardware and Software providers have shown their keenness towards leveraging metaverse related solutions in their industrial pipeline from designing to showcasing products on the metaverse space. Many automotive manufacturers and dealers are providing immersive experiences to the users and customers through virtual showrooms and various XR based technologies like VR simulation. Users and customers are showing their interest in the NFTs and crypto to be used in the asset marketplace in the virtual space. Metaverse technologies has made the things much more convenient in the field of simulation and testing the vehicle.
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Market Dynamics:
Driver: Brand promotions for automotive OEMs using gamification
Many companies in the automobile industry are taking advantage of the gaming part of the metaverse to increase brand awareness. They are strategically using metaverse for engaging in metaverse-based promotions and sponsorships. These companies capitalize by gamifying their brands through immersive online experiences and virtual world simulators. Some metaverse projects that gamify brand awareness include Mobility Adventure by Hyundai Motor Company and Roblox and Moving Platform by Volkswagen AG and Microsoft, among others. People engage in these 3D worlds to play mini-games, connect with other gamers, socialize, make friends, and get product information through salespeople, chatbots, or virtual AI agents. Metaverse makes brand promotion interesting and engaging for young customers.
The metaverse vendors are witnessing new revenue prospects from the opportunities in segments such as VR, AR, XR, cloud gaming, AI in social media, e-sports, virtual fitting rooms, and AR/VR hardware and peripherals. The following table includes market sizes and CAGRs of such adjacent markets.
Restraint: Installation and maintenance cost of high-end components
Metaverse hardware includes devices for extended reality (AR, VR, and MR), along with semiconductor components, sensors, trackers, and other state-of-the-art equipment. These devices used in metaverse also use 3D and other advanced technologies to create a realistic-looking virtual environment, which increases their costs. The enterprise-grade metaverse software such as engines, 3D modelling software, and rendering tools are expensive. In addition to that, the installation of XR devices and solutions requires additional costs. Their maintenance costs further increase the overall investments required to adopt this technology. Therefore, such high installation and maintenance costs are expected to hinder the growth of the metaverse market globally. According to a report by NFT Studios, the cost of a project on metaverse can cost around USD 10,000 to USD 300,000, with around USD 1-4 million cost for a team of developers. Bigger projects, like Facebook’s metaverse, cost the company around USD 2.7 billion in just the first 3 months since its launch for upkeep and maintenance.
Opportunity: Incorporation of metaverse in automotive infotainment
AR, VR, and MR are expected to find applications in the automotive infotainment space in the coming years. OEMs have already started developing or partnering with other companies to provide AR/VR-based infotainment using metaverse. For instance, in CES 2019, Nissan announced the development of its invisible-to-visible (i2V) technology that can connect the driver and the passengers to the metaverse. People can appear as 3D AR avatars inside the cars. It also tracks the vehicle's immediate surroundings and anticipates what lies ahead. Similarly, In March 2022, Audi collaborated with start-up Holoride. The collaboration will bring VR in-car entertainment to Audi cars. The passengers in the back seat of the Audi car can use VR glasses and can have an immersive VR experience of games, videos, and other interactive entertainment content. The Holoride technology also synchronizes the real-time driving motions of the car.
Challenge: Cybersecurity and privacy challenges
Security and privacy issues are major challenges that VR, AR, and MR adoption face. These issues have emerged due to the inconsistencies in programming and negligence and oversight of both developers and end users of apps and devices. Many consumer AR applications available on the Play Store and App Store do not have the capabilities to secure user identity and privacy, thereby raising cybersecurity concerns. If the metaverse platforms and apps are not infused with top-notch cybersecurity protocols, it will lead to a malicious intent to misuse users’ personal information. For instance, the try-before-you-buy concept for clothing retailers can be misused if not secured well. The hacker can capture the nude or semi-exposed body of the user behind the overlaid virtual layer of clothes, which can lead to cyberbullying and harassment, thereby harming the user’s privacy and reputation.
Metaverse based infotainment to grow at a fast pace during the forecast period
The adoption of AR and VR in automotive infotainment will be growing in the coming future. Companies like Holoride, Mercedes-Benz, Huawei, Panasonic, and Continental AG, among others, have already started developing prototypes and AR-based HUD devices. Nissan and Audi have also announced plans to bring in-car infotainment using AR/VR technology. Audi, for instance, in March 2022, collaborated with Holoride to bring VR in-car entertainment to Audi cars. The passengers in the back seat of an Audi car can use VR glasses and have an immersive VR experience of games, videos, and other interactive entertainment content. The Holoride technology also synchronizes the real-time driving motions of the car. Metaverse in automotive infotainment systems is a much-awaited application with companies like Nissan, Audi, WayRay, Here Technologies, etc., working on developing their AR/VR/MR-based metaverse infotainment systems. These are expected to find applications in in-car infotainment, automobile safety systems, navigation functions as well as other functions connecting automobiles to the metaverse. This application is expected to come by 2023, with Audi launching its VR headsets for in-car infotainment. Europe is expected to be the largest market for this application by the end of the forecast period.
Mixed Reality (MR) will be the fastest-growing segment during the forecast period
MR is a blend of physical and digital worlds or a combination of both AR and VR. HoloLens 2 is an example of MR smart glasses developed by Microsoft. It leverages multiple sensors, advanced optics, and holographic processing to display information, blend with the real world, or even simulate a virtual world. MR headsets are in the early stages of deployment in enterprises, with the rise in the number of devices, such as the sensor-equipped HMD of Apple, currently being patented for future deployments. Other companies and start-ups are also planning to enter the field of MR devices. This will lead to MR finding greater applicability in the automotive industry.
Microsoft HoloLens was the first MR headset running on Windows mixed reality (WMR) platform under Windows 10 OS. Its successor, HoloLens 2, is the latest Microsoft smart glass device, an untethered MR headset worn like a baseball cap. Its built-in sensors map out users’ physical environments for interaction with holographic displays. HoloLens 2 also includes improved hand- and eye-tracking sensors, a new display system, an increased field of view, and improved resolution, thereby enhancing user experience.
North America is expected to be the largest-growing market in the forecast period.
North America is expected to be the largest market in the automotive metaverse industry due to the presence big giants in software and hardware sector such as Microsoft, Meta, Unity Technologies, among others. Automotive OEMs like General Motors and Ford have been using this technology for designing cars, providing immersive experiences to users (through virtual showrooms). Many tech-oriented start-ups in the region are also emerging as major providers of metaverse related solutions to many businesses around the globe. Companies like Roblox Corporation, The Sandbox, InfiniteWorld and Upland are providing open world experiences to tech savvy users. Users can now sell, buy and monetize their assets in the virtual space through digital money i.e., NFTs without using actual money.
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Key Market Players
The metaverse market for automotive is dominated by established players such as NVIDIA (US), Roblox Corporation (US), Unity Technologies (US), Meta Platforms Inc. (US), and WayRay (Switzerland). They develop products and provide service offerings for the automotive metaverse ecosystem. They have initiated partnerships to develop their metaverse technology and provide finished products and services to their respective customers in the market. They have initiated partnerships to develop their metaverse technology and provide finished products and services to their respective customers in the market.
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|
Report Metric |
Details |
|
Market size available for years |
2018–2030 |
|
Base year considered |
2021 |
|
Forecast period |
2022-2030 |
|
Forecast units |
Value (USD Million/Billion) |
|
Segments covered |
Product, Technology, Function, Application and Region |
|
Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
|
Companies Covered |
NVIDIA (US), Roblox Corporation (US), Meta Platforms Inc. (US), Unity Technologies (US), WayRay (Switzerland), others. |
This research report categorizes the metaverse market for automotive based on Product, Technology, Function, Application and Region
Based on Product:
- Hardware
- Software
- Others
Based on Function:
- Virtual Platforms/Spaces
- Avatars
- Asset Marketplace
- Financial Services
Based on Technology:
- Virtual Reality (VR)
- Augmented Reality (AR)
- Mixed Reality (MR)
- Non-fungible Token (NFT)
- Blockchain
Based on Application:
- Advertising
- Online Car Purchase
- Infotainment
- Car Design
- Autonomous Car Testing
- Training & Simulation Public
Based on Region:
-
Asia Pacific (APAC)
- China
- Japan
- South Korea
- Rest of Asia Pacific
-
North America (NA)
- US
- Canada
-
Europe (EU)
- Germany
- UK
- Rest of Europe
- Middle East & Africa
- Latin America
Recent Developments
- In February 2022, Cupra, a subsidiary of the Volkswagen group, announced Metahype, which will serve as a collaborative space where brands, startups and content creators can collaborate and host a vast variety of events and experiences for the people.
- In January 2022, Unity Technologies and Hyundai Motor Company announced plans to develop a digital twin setup for Hyundai’s factories in the coming years. This will enable faster process time for Hyundai’s factories and a reduction in operational errors due to tests in simulated environments.
- In January 2022, Mercedes-Benz launched its first ever NFT in collaboration with Art2People. The company’s first non-fungible token (NFT) will be based on its G-Class car line.
- In October 2021, Meta (Oculus) Quest 2 is a VR headset created by Facebook Technologies, LLC doing business as Oculus, a brand of Facebook Inc. (now Meta Platforms) is the successor to the company’s previous headset, the Oculus Quest. Quest 2 supports all games and software made for the first-generation model, and existing titles can be updated to support higher graphical quality on Quest 2. It also supports Oculus Link, which allows the headset to be used with Oculus Rift-compatible software on a PC. It is not compatible with Oculus Go apps and games.
- In September 2021, Hyundai announced its Hyundai Mobility Adventure, which is based on a metaverse adventure on Roblox under which various users can communicate and meet each other in the form of avatars.
- In September 2021, BMW launched its streaming platform i.e., JOYTOPIA. It is a metaverse that takes corporate and brand communication to a new level. It is a whole new virtual world for the users to create immersive experiences in digital space with their personalized avatar.
Frequently Asked Questions (FAQ):
How big is the metaverse market for automotive?
The global metaverse market for automotive is projected to grow from USD 1.9 billion in 2022 to USD 16.5 billion by 2030, at a CAGR of 31.4%.
Who are the winners in the metaverse market for automotive?
The metaverse market for automotive is dominated by NVIDIA (US), Roblox Corporation (US), Unity Technologies (US), Meta Platforms Inc. (US), and WayRay (Switzerland). They develop hardware and software. They have initiated partnerships to develop their metaverse technology.
Which region will have the fastest-growing market for metaverse market for automotive?
The Middle East and Africa will the fastest growing market for metaverse market for automotive due to the huge volume of investments in the region. Asia Pacific will also have a high demand for metaverse in automotive industry due to the presence of Automotive OEMs and software start-ups.
What are the key technologies affecting this metaverse market in automotive?
The key technologies affecting the automotive metaverse are 5G Network Internet of Things (IoT), Cloud Computing, Edge Computing, Blockchain, 3D Modelling, Real-Time Rendering, Artificial Intelligence, Machine Learning, Natural Language Processing and Computer vision. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 21)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
TABLE 1 METAVERSE MARKET FOR AUTOMOTIVE DEFINITION, BY OFFERING
TABLE 2 MARKET DEFINITION, BY PRODUCT
TABLE 3 MARKET DEFINITION, BY TECHNOLOGY
TABLE 4 MARKET DEFINITION, BY APPLICATION
1.2.1 INCLUSIONS AND EXCLUSIONS
TABLE 5 INCLUSIONS AND EXCLUSIONS IN MARKET
1.3 MARKET SCOPE
FIGURE 1 MARKETS COVERED
1.3.1 REGIONS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
TABLE 6 CURRENCY EXCHANGE RATES
1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 28)
2.1 RESEARCH DATA
FIGURE 2 METAVERSE MARKET FOR AUTOMOTIVE: RESEARCH DESIGN
FIGURE 3 RESEARCH DESIGN MODEL
2.1.1 SECONDARY DATA
2.1.1.1 Key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews – demand and supply sides
2.1.2.2 Key industry insights and breakdown of primary interviews
FIGURE 4 KEY INDUSTRY INSIGHTS
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS
2.1.2.3 List of primary participants
2.2 MARKET SIZE ESTIMATION
FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.2.1 SUPPLY-SIDE APPROACH
FIGURE 7 VENDOR ANALYSIS FOR MARKET SIZE AND RANKING
2.2.2 TOP-DOWN APPROACH
FIGURE 8 TOP-DOWN APPROACH: METAVERSE MARKET FOR AUTOMOTIVE
FIGURE 9 MARKET: MARKET ESTIMATION NOTES
2.3 DATA TRIANGULATION
FIGURE 10 DATA TRIANGULATION METHODOLOGY
2.4 FACTOR ANALYSIS
FIGURE 11 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES
FIGURE 12 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDE
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 43)
TABLE 7 CURRENT STATE OF THE METAVERSE
FIGURE 13 METAVERSE MARKET FOR AUTOMOTIVE: MARKET OVERVIEW
FIGURE 14 MARKET, BY REGION, 2022–2030 (USD MILLION)
FIGURE 15 MARKET: REVENUE DISTRIBUTION (2022)
FIGURE 16 VIRTUAL PLATFORMS/SPACES EXPECTED TO BE LARGEST MARKET DURING FORECAST PERIOD (2022–2030)
4 PREMIUM INSIGHTS (Page No. - 48)
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MARKET
FIGURE 17 OEM SHIFT TO METAVERSE-BASED ADVERTISEMENTS TO DRIVE MARKET
4.2 MARKET, BY PRODUCT
FIGURE 18 SOFTWARE TO BE LARGEST SEGMENT (2022–2030)
4.3 MARKET, BY TECHNOLOGY
FIGURE 19 MR TO GROW AT FASTER RATE (2022–2030)
4.4 MARKET, BY OFFERING
FIGURE 20 VIRTUAL PLATFORMS/SPACES TO OCCUPY LARGEST SHARE (2022–2030)
4.5 MARKET, BY APPLICATION
FIGURE 21 ADVERTISING TO LEAD MARKET DURING FORECAST PERIOD (2022–2030)
4.6 MARKET, BY REGION
FIGURE 22 NORTH AMERICA PROJECTED TO BE LARGEST MARKET
5 MARKET OVERVIEW (Page No. - 51)
5.1 INTRODUCTION
FIGURE 23 AUTOMOTIVE APPLICATIONS IN METAVERSE MARKET
FIGURE 24 METAVERSE, FROM PAST TO FUTURE
5.2 MARKET DYNAMICS
FIGURE 25 METAVERSE MARKET FOR AUTOMOTIVE: MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Brand promotions for automotive OEMs using gamification
FIGURE 26 FACTORS THAT MAKE ADVERTISING IMPORTANT IN METAVERSE
5.2.1.2 Growing demand for automobile simulators in related industries
FIGURE 27 WAYRAY’S HOLOGRAKTOR ON METAVERSE
5.2.1.3 Availability of affordable hardware
FIGURE 28 HARDWARE USED IN METAVERSE
5.2.1.4 Use of metaverse in automotive design
FIGURE 29 FORD DESIGNED NEW CAR ENTIRELY USING VR
5.2.1.5 Wider adoption of AR/VR across industries
FIGURE 30 ADOPTION OF AR/VR TECHNOLOGY ACROSS INDUSTRIES
5.2.2 RESTRAINTS
5.2.2.1 Installation and maintenance cost of high-end components
5.2.2.2 Health and mental issues from extended use
FIGURE 31 HARMFUL EFFECTS OF LOW-FREQUENCY WAVES ON USE OF DEVICES FOR METAVERSE
5.2.3 OPPORTUNITIES
5.2.3.1 Incorporation of metaverse in automotive infotainment
5.2.3.2 Continuous developments in 5G and higher band technologies
FIGURE 32 EXPECTED 5G PENETRATION BY 2025
5.2.3.3 Virtual experience as a trial before buying automobiles
FIGURE 33 NISSAN LAUNCHED NISSAN SAKURA THROUGH VIRTUAL TEST DRIVING USING METAVERSE
5.2.4 CHALLENGES
5.2.4.1 Cybersecurity and privacy challenges
FIGURE 34 CYBERSECURITY WILL BE MAIN HURDLE FOR METAVERSE POPULARIZATION
5.2.4.2 Local government restrictions with environmental impact
TABLE 8 MARKET: IMPACT OF MARKET DYNAMICS
5.3 PORTER’S FIVE FORCES
FIGURE 35 PORTER’S FIVE FORCES: MARKET
TABLE 9 METAVERSE MARKET: PORTER’S FIVE FORCES ANALYSIS
5.3.1 INTENSITY OF COMPETITIVE RIVALRY
5.3.2 BARGAINING POWER OF SUPPLIERS
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 THREAT OF NEW ENTRANTS
5.3.5 THREAT OF SUBSTITUTES
5.4 METAVERSE MARKET ECOSYSTEM FOR AUTOMOTIVE
FIGURE 36 MARKET: ECOSYSTEM ANALYSIS
5.4.1 HARDWARE PROVIDERS
5.4.2 SOFTWARE PROVIDERS
5.4.3 CLOUD SERVICE/DATA CENTER PROVIDERS
5.4.4 METAVERSE PLATFORM PROVIDERS
5.4.5 FINANCIAL SERVICES
5.4.6 AUTOMOTIVE SIMULATORS
5.4.7 OTHER SERVICES
5.4.8 OEMS
5.4.9 END USERS
TABLE 10 MARKET: ROLE OF COMPANIES IN ECOSYSTEM
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 37 SUPPLY CHAIN ANALYSIS OF MARKET
5.6 KEY CONFERENCES AND EVENTS, 2022–2023
TABLE 11 MARKET: LIST OF CONFERENCES AND EVENTS
5.7 KEY OEMS IN MARKET
FIGURE 38 KEY OEMS IN MARKET
5.8 TECHNOLOGY ANALYSIS
5.8.1 TECHNOLOGY STACK
FIGURE 39 MARKET: TECHNOLOGIES
5.8.2 INFRASTRUCTURE LEVEL
5.8.2.1 5G network
5.8.2.2 IoT
5.8.2.3 Cloud and edge computing
5.8.3 DESIGN AND DEVELOPMENT LEVEL
5.8.3.1 Blockchain
5.8.3.2 3D modeling and real-time rendering
5.8.3.3 AI, NLP, and computer vision
5.8.4 HUMAN INTERACTION LEVEL
5.8.4.1 VR
5.8.4.2 AR
5.8.4.2.1 Mobile AR
5.8.4.2.2 Monitor-based AR
5.8.4.2.3 Near-eye-based AR
5.8.4.2.4 Web AR
5.8.4.3 MR
5.9 PATENT ANALYSIS
FIGURE 40 NUMBER OF PATENTS PUBLISHED, 2011–2021
FIGURE 41 TOP FIVE PATENT OWNERS (GLOBAL)
TABLE 12 TOP 10 PATENT OWNERS (US)
TABLE 13 IMPORTANT PATENT REGISTRATIONS RELATED TO METAVERSE MARKET FOR AUTOMOTIVE
5.10 KEY ENABLERS OF METAVERSE
FIGURE 42 KEY ENABLERS OF THE METAVERSE
5.11 CASE STUDY ANALYSIS
5.11.1 CASE STUDY 1: META FACTORY SETUP
5.11.2 CASE STUDY 2: LEVERAGING METAVERSE IN AUTOMOBILE INDUSTRY
5.11.3 CASE STUDY 3: PERFORMING SIMULATIONS FOR SMART MANUFACTURING
5.11.4 CASE STUDY 4: PRODUCTION OF NEW CAR USING METAVERSE
5.11.5 CASE STUDY 5: DEVELOPMENT OF MGVERSE
5.11.6 CASE STUDY 6: DEVELOPMENT OF HYUNDAI MOBILITY ADVENTURE
5.11.7 CASE STUDY 7: DEVELOPMENT OF AR IN INFORMATION DISPLAY
5.11.8 CASE STUDY 8: ANNOUNCEMENT OF MCLAREN RACING COLLECTIVE
5.11.9 CASE STUDY 9: ANNOUNCEMENT OF ALFA ROMEO NFTS
5.11.10 CASE STUDY 10: DEVELOPMENT OF VOLVOVERSE
5.11.11 CASE STUDY 11: SMART SERVICING AND REPAIR
5.12 REGULATORY LANDSCAPE
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 17 REST OF WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12.2 REGULATORY IMPLICATIONS AND INDUSTRY STANDARDS
TABLE 18 MAJOR REGULATIONS REQUIRED FOR AUTOMOTIVE METAVERSE
5.13 TRENDS AND DISRUPTIONS
FIGURE 43 MARKET: TRENDS AND DISRUPTIONS
5.14 MARKET, SCENARIO ANALYSIS (2022–2030)
FIGURE 44 MARKET: FUTURE TRENDS & SCENARIOS, 2021–2030 (USD MILLION)
5.14.1 MOST LIKELY SCENARIO
TABLE 19 MARKET (MOST LIKELY), BY REGION, 2022–2030 (USD MILLION)
5.14.2 OPTIMISTIC SCENARIO
TABLE 20 MARKET (OPTIMISTIC), BY REGION, 2022–2030 (USD MILLION)
5.14.3 PESSIMISTIC SCENARIO
TABLE 21 MARKET (PESSIMISTIC), BY REGION, 2022–2030 (USD MILLION)
6 METAVERSE MARKET FOR AUTOMOTIVE, BY OFFERING (Page No. - 98)
6.1 INTRODUCTION
FIGURE 45 VIRTUAL PLATFORMS/SPACE TO BE LARGEST SEGMENT DURING FORECAST PERIOD
TABLE 22 MARKET, BY OFFERING, 2018–2021 (USD MILLION)
TABLE 23 MARKET, BY OFFERING, 2022–2030 (USD MILLION)
6.1.1 OPERATIONAL DATA
TABLE 24 METAVERSE: COMPANY OFFERINGS
6.1.2 ASSUMPTIONS
TABLE 25 ASSUMPTIONS: BY OFFERING
6.1.3 RESEARCH METHODOLOGY
6.2 VIRTUAL PLATFORMS/SPACES
6.2.1 GROWING DEMAND FOR AR/VR APPLICATIONS
TABLE 26 TOP COLLABORATIONS BETWEEN OEMS AND METAVERSE PROVIDERS
TABLE 27 VIRTUAL PLATFORM/SPACE, BY REGION, 2018–2021 (USD MILLION)
TABLE 28 VIRTUAL PLATFORM/SPACE, BY REGION, 2022–2030 (USD MILLION)
6.3 AVATARS
6.3.1 VIRTUAL ENVIRONMENT TO CREATE OPPORTUNITIES
TABLE 29 AVATARS, BY REGION, 2018–2021 (USD MILLION)
TABLE 30 AVATARS, BY REGION, 2022–2030 (USD MILLION)
6.4 ASSET MARKETPLACES
6.4.1 GROWING NFT AND SDK DEMAND
TABLE 31 ASSET MARKETPLACE, BY REGION, 2018–2021 (USD MILLION)
TABLE 32 ASSET MARKETPLACE, BY REGION, 2022–2030 (USD MILLION)
6.5 FINANCIAL SERVICES
6.5.1 INCREASING TRADE OF DIGITAL ASSETS IN BLOCKCHAIN AND CRYPTOCURRENCY
TABLE 33 FINANCIAL SERVICES, BY REGION, 2018–2021 (USD MILLION)
TABLE 34 FINANCIAL SERVICES, BY REGION, 2022–2030 (USD MILLION)
6.6 KEY PRIMARY INSIGHTS
7 METAVERSE MARKET FOR AUTOMOTIVE, BY PRODUCT (Page No. - 107)
7.1 INTRODUCTION
FIGURE 46 SOFTWARE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
TABLE 35 MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 36 MARKET, BY PRODUCT, 2022–2030 (USD MILLION)
7.1.1 OPERATIONAL DATA
TABLE 37 METAVERSE ECOSYSTEM: WHAT COMPANIES ARE WORKING ON
7.1.2 ASSUMPTIONS
TABLE 38 ASSUMPTIONS: BY PRODUCT
7.1.3 RESEARCH METHODOLOGY
7.2 HARDWARE
7.2.1 INCREASED USE OF XR HARDWARE IN AUTOMOTIVE
TABLE 39 MAJOR HARDWARE USED/TO BE USED IN AUTOMOTIVE METAVERSE
TABLE 40 METAVERSE HARDWARE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 METAVERSE HARDWARE MARKET, BY REGION, 2022–2030 (USD MILLION)
7.3 SOFTWARE
7.3.1 GROWING NUMBER OF METAVERSE SOFTWARE PROVIDERS
TABLE 42 MAJOR SOFTWARE TYPES AND THEIR USE CASES IN AUTOMOTIVE METAVERSE
TABLE 43 METAVERSE SOFTWARE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 44 METAVERSE SOFTWARE MARKET, BY REGION, 2022–2030 (USD MILLION)
7.4 OTHERS
7.4.1 EXPONENTIAL GROWTH IN DEMAND FOR AUTOMOTIVE NFTS AND FINANCIAL SERVICES
TABLE 45 OTHERS: METAVERSE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 46 OTHERS: METAVERSE MARKET, BY REGION, 2022–2030 (USD MILLION)
7.5 KEY PRIMARY INSIGHTS
8 METAVERSE MARKET FOR AUTOMOTIVE, BY TECHNOLOGY (Page No. - 117)
8.1 INTRODUCTION
FIGURE 47 AR TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
TABLE 47 MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
TABLE 48 MARKET, BY TECHNOLOGY, 2022–2030 (USD MILLION)
8.1.1 OPERATIONAL DATA
TABLE 49 COMPANIES WORKING ON AR/VR/MR TECHNOLOGIES
8.1.2 ASSUMPTIONS
TABLE 50 ASSUMPTIONS: BY TECHNOLOGY
8.1.3 RESEARCH METHODOLOGY
8.2 AUGMENTED REALITY (AR)
8.2.1 NEEDED FOR VIRTUAL SHOWROOMS AND CAR DESIGNING
TABLE 51 OEMS AND THEIR AR USE CASES IN AUTOMOTIVE METAVERSE
TABLE 52 METAVERSE AR MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 53 METAVERSE AR MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
8.3 VIRTUAL REALITY (VR)
8.3.1 INCREASING DIGITAL INTERACTIVE APPLICATIONS
TABLE 54 OEMS AND THEIR VR USE CASES IN AUTOMOTIVE METAVERSE
TABLE 55 METAVERSE VR MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 56 METAVERSE VR MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
8.4 MIXED REALITY (MR)
8.4.1 DECREASING COST OF MR DEVICES
TABLE 57 METAVERSE MR MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 58 METAVERSE MR MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
8.5 NON-FUNGIBLE TOKEN (NFT)
8.5.1 INCREASING NUMBER OF NFT LAUNCHES BY TOP OEMS
TABLE 59 OEMS AND THEIR NFT COLLABORATIONS IN AUTOMOTIVE METAVERSE
8.6 BLOCKCHAIN
8.6.1 GROWING TRADE OF DIGITAL ASSETS
8.7 KEY PRIMARY INSIGHTS
9 METAVERSE MARKET FOR AUTOMOTIVE, BY APPLICATION (Page No. - 129)
9.1 INTRODUCTION
FIGURE 48 ADVERTISING SEGMENT TO DOMINATE DURING FORECAST PERIOD
TABLE 60 MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 61 MARKET, BY APPLICATION, 2022–2030 (USD MILLION)
9.1.1 OPERATIONAL DATA
TABLE 62 OEMS AND CURRENT METAVERSE APPLICATIONS
9.1.2 ASSUMPTIONS
TABLE 63 ASSUMPTIONS: BY APPLICATION
9.1.3 RESEARCH METHODOLOGY
9.2 ADVERTISING
9.2.1 ADVERTISING IN METAVERSE IMPACTING BRAND VALUE
FIGURE 49 HOW OEMS ARE ADVERTISING IN METAVERSE
TABLE 64 METAVERSE ADVERTISING MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 METAVERSE ADVERTISING MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
9.3 ONLINE CAR PURCHASE
9.3.1 PREFERRED BY MILLENNIAL CUSTOMERS
TABLE 66 ONLINE CAR PURCHASE OFFERINGS BY OEMS IN AUTOMOTIVE METAVERSE
TABLE 67 METAVERSE ONLINE CAR PURCHASE MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 68 METAVERSE ONLINE CAR PURCHASE MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
9.4 INFOTAINMENT
9.4.1 AR/VR-BASED HMD AND HUD DEVICES FOR IN-CAR INFOTAINMENT
TABLE 69 IN-CAR METAVERSE COMPATIBLE AR/VR INFOTAINMENT SYSTEMS
TABLE 70 METAVERSE INFOTAINMENT MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 71 METAVERSE INFOTAINMENT MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
9.5 CAR DESIGN
9.5.1 CONVENIENT AND INEXPENSIVE CAR DESIGN USING XR
TABLE 72 VIRTUAL CAR DESIGN USING AUTOMOTIVE METAVERSE
TABLE 73 METAVERSE CAR DESIGN MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 74 METAVERSE CAR DESIGN MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
9.6 AUTONOMOUS CAR TESTING
9.6.1 AUTONOMOUS CAR TESTING USING METAVERSE SAVES COST
TABLE 75 METAVERSE AUTONOMOUS CAR TESTING MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 76 METAVERSE AUTONOMOUS CAR TESTING MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
9.7 TRAINING & SIMULATION
9.7.1 GROWING DEMAND AMONG NOVICE AND PROFESSIONAL DRIVERS
TABLE 77 DRIVING SIMULATORS IN AUTOMOTIVE METAVERSE
TABLE 78 METAVERSE TRAINING & SIMULATION MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
TABLE 79 METAVERSE TRAINING & SIMULATION MARKET FOR AUTOMOTIVE, BY REGION, 2022–2030 (USD MILLION)
9.8 KEY PRIMARY INSIGHTS
10 METAVERSE MARKET FOR AUTOMOTIVE, BY REGION (Page No. - 143)
10.1 INTRODUCTION
FIGURE 50 ASIA PACIFIC TO GROW AT FAST RATE DURING FORECAST PERIOD
TABLE 80 MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 81 MARKET, BY REGION, 2022–2030 (USD MILLION)
10.2 ASIA PACIFIC
10.2.1 ASIA PACIFIC: REGULATIONS
FIGURE 51 ASIA PACIFIC: REGIONAL SNAPSHOT
TABLE 82 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 83 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2030 (USD MILLION)
TABLE 84 ASIA PACIFIC: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 85 ASIA PACIFIC: MARKET, BY PRODUCT, 2022–2030 (USD MILLION)
10.2.2 CHINA
10.2.2.1 Government incentives present opportunities
TABLE 86 CHINA: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.2.3 JAPAN
10.2.3.1 Increasing OEM initiatives
TABLE 87 JAPAN: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.2.4 SOUTH KOREA
10.2.4.1 Thriving automotive OEM and metaverse provider partnerships
TABLE 88 SOUTH KOREA: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.2.5 REST OF ASIA PACIFIC
TABLE 89 REST OF ASIA PACIFIC: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.3 EUROPE
10.3.1 EUROPE: REGULATIONS
TABLE 90 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 91 EUROPE: MARKET, BY COUNTRY, 2022–2030 (USD MILLION)
TABLE 92 EUROPE: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 93 EUROPE: MARKET, BY PRODUCT, 2022–2030 (USD MILLION)
10.3.2 UK
10.3.2.1 Large-scale metaverse adoption by OEMs
TABLE 94 UK: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.3.3 GERMANY
10.3.3.1 Success of BMW meta factories and NFT-based transactions
TABLE 95 GERMANY: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.3.4 REST OF EUROPE
TABLE 96 REST OF EUROPE: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.4 NORTH AMERICA
10.4.1 NORTH AMERICA: REGULATIONS
FIGURE 52 NORTH AMERICA: REGIONAL SNAPSHOT
TABLE 97 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 98 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2030 (USD MILLION)
TABLE 99 NORTH AMERICA: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 100 NORTH AMERICA: MARKET, BY PRODUCT, 2022–2030 (USD MILLION)
10.4.2 US
10.4.2.1 Presence of top metaverse providers and high penetration of 5G
TABLE 101 US: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.4.3 CANADA
10.4.3.1 Presence of innovative startups
TABLE 102 CANADA: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.5 MIDDLE EAST & AFRICA
TABLE 103 MIDDLE EAST & AFRICA: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.5.1 MIDDLE EAST & AFRICA: REGULATIONS
TABLE 104 MIDDLE EAST & AFRICA: MARKET, 2018–2021 (USD MILLION)
TABLE 105 MIDDLE EAST & AFRICA: MARKET, 2022–2030 (USD MILLION)
TABLE 106 MIDDLE EAST & AFRICA: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 107 MIDDLE EAST & AFRICA: MARKET, BY PRODUCT, 2022–2030 (USD MILLION)
10.6 LATIN AMERICA
TABLE 108 LATIN AMERICA: METAVERSE PROGRESS IN AUTOMOTIVE INDUSTRY
10.6.1 LATIN AMERICA: REGULATIONS
TABLE 109 LATIN AMERICA: MARKET, 2018–2021 (USD MILLION)
TABLE 110 LATIN AMERICA: MARKET, 2022–2030 (USD MILLION)
TABLE 111 LATIN AMERICA: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 112 LATIN AMERICA: MARKET, BY PRODUCT, 2022–2030 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 165)
11.1 OVERVIEW
11.2 MARKET RANKING ANALYSIS
FIGURE 53 MARKET RANKING OF MAJOR PLAYERS IN METAVERSE MARKET FOR AUTOMOTIVE, 2021
11.3 COMPETITIVE SCENARIO
11.3.1 DEALS, 2019-2022
TABLE 113 DEALS, 2019–2022
11.3.2 PRODUCT LAUNCHES, 2019-2022
TABLE 114 NEW PRODUCT LAUNCHES, 2019–2022
11.4 COMPANY EVALUATION QUADRANT FOR MARKET
11.4.1 STARS
11.4.2 EMERGING LEADERS
11.4.3 PERVASIVE COMPANIES
11.4.4 PARTICIPANTS
FIGURE 54 COMPANY EVALUATION QUADRANT FOR HARDWARE AND SOFTWARE PROVIDERS, 2021
FIGURE 55 COMPANY EVALUATION QUADRANT FOR OEMS, 2021
11.5 COMPANY EVALUATION FOOTPRINT
TABLE 115 MARKET: COMPANY FOOTPRINT, 2021
TABLE 116 MARKET: APPLICATION FOOTPRINT, 2021
TABLE 117 MARKET: REGIONAL FOOTPRINT, 2021
11.6 COMPETITIVE EVALUATION QUADRANT, START-UPS AND SMES
11.6.1 PROGRESSIVE COMPANIES
11.6.2 RESPONSIVE COMPANIES
11.6.3 DYNAMIC COMPANIES
11.6.4 STARTING BLOCKS
FIGURE 56 COMPETITIVE LEADERSHIP MAPPING FOR START-UPS AND SMES, 2021
TABLE 118 METAVERSE MARKET FOR AUTOMOTIVE: LIST OF KEY STARTUPS
12 COMPANY PROFILES (Page No. - 176)
(Business overview, Products offered, Recent developments & MnM View)*
12.1 KEY PLAYERS
12.1.1 NVIDIA
TABLE 119 NVIDIA: BUSINESS OVERVIEW
FIGURE 57 NVIDIA: COMPANY SNAPSHOT
FIGURE 58 NVIDIA OMNIVERSE AND ITS APPLICATION
TABLE 120 NVIDIA: PRODUCTS OFFERED
TABLE 121 NVIDIA: NEW PRODUCT DEVELOPMENTS
TABLE 122 NVIDIA: DEALS
12.1.2 ROBLOX CORPORATION
TABLE 123 ROBLOX CORPORATION: BUSINESS OVERVIEW
FIGURE 59 ROBLOX CORPORATION: COMPANY SNAPSHOT
TABLE 124 ROBLOX CORPORATION: PRODUCTS OFFERED
TABLE 125 ROBLOX CORPORATION: DEALS
12.1.3 UNITY TECHNOLOGIES
TABLE 126 UNITY TECHNOLOGIES: BUSINESS OVERVIEW
FIGURE 60 UNITY TECHNOLOGIES: COMPANY SNAPSHOT
FIGURE 61 UNITY TECHNOLOGIES PARTNERSHIP WITH HYUNDAI
TABLE 127 UNITY TECHNOLOGIES: PRODUCTS OFFERED
TABLE 128 UNITY TECHNOLOGIES: NEW PRODUCT DEVELOPMENTS
TABLE 129 UNITY TECHNOLOGIES: DEALS
12.1.4 META PLATFORMS INC.
TABLE 130 META PLATFORMS INC: BUSINESS OVERVIEW
FIGURE 62 META PLATFORMS INC: COMPANY SNAPSHOT
TABLE 131 META PLATFORMS INC: PRODUCTS OFFERED
TABLE 132 META PLATFORMS INC: NEW PRODUCT DEVELOPMENTS
TABLE 133 META PLATFORMS INC: DEALS
12.1.5 WAYRAY
TABLE 134 WAYRAY: BUSINESS OVERVIEW
TABLE 135 WAYRAY: PRODUCTS OFFERED
TABLE 136 WAYRAY: NEW PRODUCT DEVELOPMENTS
TABLE 137 WAYRAY: DEALS
12.1.6 EPIC GAMES
TABLE 138 EPIC GAMES: BUSINESS OVERVIEW
FIGURE 63 EPIC GAMES METAVERSE
TABLE 139 EPIC GAMES: PRODUCTS OFFERED
TABLE 140 EPIC GAMES: NEW PRODUCT DEVELOPMENTS
TABLE 141 EPIC GAMES: DEALS
12.1.7 TECH MAHINDRA
TABLE 142 TECH MAHINDRA: BUSINESS OVERVIEW
FIGURE 64 TECH MAHINDRA: COMPANY SNAPSHOT
TABLE 143 TECH MAHINDRA: PRODUCTS OFFERED
TABLE 144 TECH MAHINDRA: NEW PRODUCT DEVELOPMENTS
TABLE 145 TECH MAHINDRA: DEALS
TABLE 146 TECH MAHINDRA: OTHERS
12.1.8 MICROSOFT
TABLE 147 MICROSOFT: BUSINESS OVERVIEW
FIGURE 65 MICROSOFT: COMPANY SNAPSHOT
FIGURE 66 MICROSOFT HOLOLENS 2 MR DEVICE
TABLE 148 MICROSOFT: PRODUCTS OFFERED
TABLE 149 MICROSOFT: NEW PRODUCT DEVELOPMENTS
TABLE 150 MICROSOFT: DEALS
TABLE 151 MICROSOFT: OTHERS
12.1.9 XR LABS
TABLE 152 XR LABS: BUSINESS OVERVIEW
TABLE 153 XR LABS: PRODUCTS OFFERED
TABLE 154 XR LABS: DEALS
12.1.10 QUALCOMM
TABLE 155 QUALCOMM: BUSINESS OVERVIEW
FIGURE 67 QUALCOMM: COMPANY SNAPSHOT
FIGURE 68 QUALCOMM X2 CHIP FOR AR/VR DEVICES
TABLE 156 QUALCOMM: PRODUCTS OFFERED
TABLE 157 QUALCOMM: NEW PRODUCT DEVELOPMENTS
TABLE 158 QUALCOMM: DEALS
12.1.11 DECENTRALAND
TABLE 159 DECENTRALAND: BUSINESS OVERVIEW
TABLE 160 DECENTRALAND: PRODUCTS OFFERED
TABLE 161 DECENTRALAND: DEALS
12.1.12 SANDBOX
TABLE 162 SANDBOX: BUSINESS OVERVIEW
TABLE 163 SANDBOX: PRODUCTS OFFERED
TABLE 164 SANDBOX: NEW PRODUCT DEVELOPMENTS
TABLE 165 SANDBOX: DEALS
12.2 AUTOMOTIVE OEMS
12.2.1 HYUNDAI MOTOR COMPANY
TABLE 166 HYUNDAI MOTOR COMPANY: BUSINESS OVERVIEW
FIGURE 69 HYUNDAI MOTOR COMPANY: COMPANY SNAPSHOT
TABLE 167 HYUNDAI MOTOR COMPANY: PRODUCTS OFFERED
TABLE 168 HYUNDAI MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS
TABLE 169 HYUNDAI MOTOR COMPANY: DEALS
TABLE 170 HYUNDAI MOTOR COMPANY: OTHERS
12.2.2 VOLKSWAGEN AG
TABLE 171 VOLKSWAGEN AG: BUSINESS OVERVIEW
FIGURE 70 VOLKSWAGEN AG: COMPANY SNAPSHOT
TABLE 172 VOLKSWAGEN AG: PRODUCTS OFFERED
TABLE 173 VOLKSWAGEN AG: NEW PRODUCT DEVELOPMENTS
TABLE 174 VOLKSWAGEN: DEALS
TABLE 175 VOLKSWAGEN: OTHERS
12.2.3 BMW GROUP
TABLE 176 BMW GROUP: BUSINESS OVERVIEWS
FIGURE 71 BMW GROUP: COMPANY SNAPSHOT
FIGURE 72 BMW GROUP VIRTUAL CAR DESIGN USING OMNIVERSE
TABLE 177 BMW GROUP: PRODUCTS OFFERED
TABLE 178 BMW GROUP: NEW PRODUCT DEVELOPMENTS
TABLE 179 BMW GROUP: DEALS
12.2.4 MERCEDES-BENZ AG
TABLE 180 MERCEDES-BENZ AG: BUSINESS OVERVIEW
FIGURE 73 MERCEDES-BENZ AG: COMPANY SNAPSHOT
FIGURE 74 MERCEDES-BENZ NFT ISSUED ITS G-CLASS
TABLE 181 MERCEDES-BENZ AG: PRODUCTS OFFERED
TABLE 182 MERCEDES-BENZ AG: NEW PRODUCT DEVELOPMENTS
TABLE 183 MERCEDES-BENZ AG DEALS
12.2.5 NISSAN MOTORS
TABLE 184 NISSAN MOTORS: BUSINESS OVERVIEW
FIGURE 75 NISSAN MOTORS: COMPANY SNAPSHOT
FIGURE 76 NISSAN MOTORS I2V SYSTEM
TABLE 185 NISSAN MOTORS: PRODUCTS OFFERED
TABLE 186 NISSAN MOTORS: DEALS
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
12.3 OTHER KEY PLAYERS
12.3.1 VOLVO
12.3.2 GENERAL MOTORS
12.3.3 ASTON MARTIN
12.3.4 MG MOTORS
12.3.5 HONDA MOTOR COMPANY
12.3.6 TOYOTA MOTOR CORPORATION
12.3.7 JIDU AUTO
12.3.8 TATA MOTORS
12.3.9 VARJO
12.3.10 CARZSO
12.3.11 TERRANET AB
12.3.12 CARCIVIC
12.3.13 SOMNIUM SPACE
12.3.14 METAVRSE
12.3.15 SONY CORPORATION
12.3.16 OXBOTICA
12.3.17 HYPERLINK INFOSYSTEM
12.3.18 HOLORIDE
12.3.19 HOLO-LIGHT
12.3.20 INFINITEWORLD
12.3.21 UPLAND
13 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 239)
13.1 ADVANCEMENTS IN XR TECHNOLOGIES TO DRIVE METAVERSE ADOPTION IN AUTOMOTIVE
13.2 ASIA PACIFIC EXPECTED TO BE FASTEST MARKET
13.3 CONCLUSION
14 APPENDIX (Page No. - 240)
14.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATION OPTIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
The study involved 4 major activities in estimating the current size of the metaverse market for automotive. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down approach was employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used in estimating the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, publications of automobile OEMs, Publications of XR Companies, automotive component associations, American Automobile Association (AAA), European Alternative Fuels Observatory (EAFO), International Energy Agency (IEA), country-level automotive associations, automobile magazines, articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases (for example, Marklines, and Factiva) have been used to identify and collect information useful for an extensive commercial study of the global metaverse market for automotive.
Primary Research
Extensive primary research was conducted after acquiring an understanding of the metaverse market for automotive scenarios through secondary research. Several primary interviews were conducted with market experts from both the demand (country-level government associations, and trade associations, institutes, R&D centers, OEMs/vehicle manufacturers) and supply (component manufacturers, software providers) side across five major regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, Latin America. 21% of the experts involved in primary interviews were from the demand side, and 79% were from the supply side of the industry. Primary data was collected through questionnaires, emails, and telephonic interviews. Several primary interviews were conducted from various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in the report.
After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primaries. This, along with the in-house subject matter experts’ opinions, has led to the findings delineated in the rest of this report. Following is the breakdown of primary respondents
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down approach were used to estimate and validate the total size of the metaverse market for automotive. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The industry’s future supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the supply side.
Report Objectives
- To segment and forecast the metaverse market size for automotive in terms of value (USD Million/Billion)
- To define, describe, and forecast the metaverse market for automotive based on offering, product, technology, application, and region
- To segment the market and forecast its size, by value, based on region (Asia Pacific, Europe, North America, Middle East & Africa, Latin America)
- To segment and forecast the market based on offering (virtual platforms/spaces, avatars, asset marketplaces, financial services)
- To segment and forecast the market based on products (hardware, software, others)
- To segment and forecast the market based on technology (virtual reality, augmented reality, mixed reality, NFT, Blockchain)
- To segment and forecast the market based on application (advertising, online car purchase, infotainment, car design, autonomous car testing, training & simulation)
- To analyze the technological developments impacting the metaverse market for automotive
- To analyze opportunities for stakeholders and the competitive landscape for market leaders
- To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
- To strategically analyze markets with respect to individual growth trends, future prospects, and contribution to the total market
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments such as deals (joint ventures, mergers & acquisitions, partnerships, collaborations), new product development, and other activities carried out by key industry participants
Available Customizations
With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.
- Further (estimated) breakdown for the metaverse market for automotive at the country-level (for countries covered in the report)
- Further breakdown of the metaverse market for automotive by hardware type (as part of the Hardware segment in the Product category)
Company Information
- Profiles of additional market players (up to five)
Growth opportunities and latent adjacency in Metaverse Market