NsightAce Analytic Pvt. Ltd. has published a market analysis report titled “Global Metaverse Market Size, Share, & Trends Analysis Report.” The worldwide metaverse market is expected to exceed USD 1420.58 billion by 2031, growing at a CAGR of 38.97% over the forecast period. The expanding consumer use of AR, VR, and augmented reality, the increasing integration of digital platforms into sectors for everyday operations, and the push towards a decentralised internet network are the primary drivers for the metaverse market’s development. Large BFSI firms such as JP Morgan and HSBC have begun to use it to strengthen customer relationships, trade organisations have begun to leverage the metaverse, and medical studies have begun to set up doctor-patient contacts in the metaverse for seamless and anonymous communication. Because of its significant investment in cutting-edge technologies such as blockchain, AR/VR, and AI, the North American metaverse industry is likely to grow significantly. The development of metaverse providers and the increase in government aid for regulatory compliance are the primary drivers of the industry’s growth.
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