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Metaverse Market in Finance by Component and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 121
  • SKU: IRTNTR73448
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The metaverse market share in finance is expected to increase to USD 50.37 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 20.93%.

This market research report extensively covers metaverse market in finance segmentations by the following:

  • Component - Hardware and software
  • Geography - North America, Europe, APAC, South America, and Middle East and Africa

The metaverse market in finance report offers information on several market vendors, including Bank of America Corp., BNP Paribas SA, IBK, KB Financial Group inc., Mogo inc., National Bank of Kuwait S.A.K.P, NH investment and Securities Co. Ltd., and Shinhan Financial Group Co. Ltd. among others. One of the key highlights of this report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the future.

What will the Metaverse Market Size in Finance be During the Forecast Period?

Download the Free Report Sample to Unlock the Metaverse Market Size in Finance for the Forecast Period and Other Important Statistics

 

Metaverse Market in Finance: Key Drivers, Trends, and Challenges

The integration with VR and AR platforms is notably driving the metaverse market growth in finance, although factors such as privacy and security concerns over metaverse may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the metaverse industry in finance. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Metaverse Market Driver in Finance

  • The integration with VR and AR platforms is one of the key drivers that is positively impacting the metaverse in finance market growth.
  • Participants can now track and visualize financial markets in more depth, owing to enhanced AR or mixed reality (MR)-based stock trading and investment.
  • The AR and VR technology has expanded the definition of "workplace anytime, anywhere", thereby allowing users to work on laptops and mobile devices while also switching to virtual rooms to seek help from virtual agents.
  • For instance, TD Ameritrade provides users with an immersive VR experience that begins with a 'street view' to educate users about how the stock exchange works before moving on to a 'helicopter view' of live markets using holography and 3D charts to provide real-time investment and exchange guidance. Such convenience provided by integrating with AR and VR will drive the metaverse market growth in finance during the forecast period.

Key Metaverse in Finance Market Trend

  • The development of metaverse wallets is one of the key metaverse market trends in finance fueling market growth.
  • Metaverse wallets are fundamentally similar to other blockchain wallets but with some additional features. The wallet allows the user to store, receive, and transfer tokens.
  • Metaverse wallets let users keep track of the assets that they generate, trade, and hold in a metaverse network. The virtual world is full of promises, making it extremely appealing and attracting a large number of people to join the race.
  • Meta Mask, Enjin Wallet, Coinbase, Math Wallet, Alpha Wallet, Coinomi, and Trust Wallet are the top seven metaverse wallets. Over the last few years, all of these metaverse digital wallets have consistently performed well.
  • Significantly, it is the rapid expansion of digital wallet platforms that provide dependable services to customers, making them a popular choice among users. This factor will propel the metaverse market growth in finance during the forecast period.

Key Metaverse in Finance Market Challenge

  • Privacy and security concerns over metaverse is one of the challenges limiting the metaverse market growth in finance.
  • Metaverse can access the personal data of users and may pose a threat to their privacy.
  • There are privacy-related concerns associated with smart devices used in the metaverse, such as smart glasses, VR headsets, and others.
  • Any security or privacy violation might lead to trouble and ruin the organization's reputation.
  • Due to the fact that metaverse is entirely online, security-related and privacy-related vulnerabilities may arise in the near future. This, in turn, will impede the metaverse market growth in finance during the forecast period.

This metaverse in finance market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global metaverse market in finance as a part of the global information technology (IT) spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the metaverse market in finance during the forecast period.

Who are the Major Metaverse Market Vendors in Finance?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Bank of America Corp.
  • BNP Paribas SA
  • IBK
  • KB Financial Group inc.
  • Mogo inc.
  • National Bank of Kuwait S.A.K.P
  • NH investment and Securities Co. Ltd.
  • Shinhan Financial Group Co. Ltd.

 

This statistical study of the metaverse market in finance encompasses successful business strategies deployed by the key vendors. The metaverse market in finance is concentrated and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.

Product insights and News

  • Bank of America Corp. - The company offers metaverse services for the entire crypto ecosystem. 
  • BNP Paribas SA - The company offers metaverse services such as thematic funds and ETFs. 
  • IBK - The company offers metaverse platform such as Cyworld metaverse. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The metaverse market in finance forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Metaverse Market in Finance Value Chain Analysis

Our report provides extensive information on the value chain analysis for the metaverse market in finance, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Metaverse Market in Finance?

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32% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the metaverse market in finance in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.

The rising popularity and acceptance of cryptocurrencies and blockchain technology will facilitate the metaverse market growth in finance in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a positive impact on the regional market. Moreover, in 2020, the time spent by people on digital media increased by 15% in the US when compared to that in 2019. Thus, the increasing internet penetration and a growing interest in digital asset creation and purchase are expected to escalate the metaverse market growth in finance during the forecast period.

What are the Revenue-generating Component Segments in the Metaverse Market in Finance?

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The metaverse market share growth in finance by the hardware segment will be significant during the forecast period. The hardware segment is expected to register a robust CAGR in terms of revenue during the forecast period. Various types of headsets, smart glasses, and lenses are utilized to interface with the metaverse platform. A virtual reality (VR) or augmented reality (AR) experience involves the use of a camera to alter or enhance the user's vision of a virtual world, such as a metaverse. Moreover, factors such as the quick adoption of AR devices and VR headsets by banks and financial institutions to improve customer service and experience, the introduction of cutting-edge technology to speed up innovation in fintech solutions, and rising hardware developments are propelling the segment forward and thereby driving the metaverse market growth in finance.

This report provides an accurate prediction of the contribution of all the segments to the growth of the metaverse market size in finance and actionable market insights on post COVID-19 impact on each segment.

 

Metaverse Market Scope in Finance

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 20.93%

Market growth 2022-2026

$ 50.37 billion

Market structure

Concentrated

YoY growth (%)

20.11

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 32%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Bank of America Corp., BNP Paribas SA, IBK, KB Financial Group inc., Mogo inc., National Bank of Kuwait S.A.K.P, NH investment and Securities Co. Ltd., and Shinhan Financial Group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Metaverse Market in Finance Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive metaverse market growth in finance during the next five years
  • Precise estimation of the metaverse market size in finance and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the metaverse industry in finance across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of metaverse market vendors in finance

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Component

    • 5.1 Market segments
      • Exhibit 24: Chart on Component - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Component - Market share 2021-2026 (%)
    • 5.2 Comparison by Component
      • Exhibit 26: Chart on Comparison by Component
      • Exhibit 27: Data Table on Comparison by Component
    • 5.3 Hardware - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Hardware - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Hardware - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Hardware - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Hardware - Year-over-year growth 2021-2026 (%)
    • 5.4 Software - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Software - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Software - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Software - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Software - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Component
      • Exhibit 36: Market opportunity by Component ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 UK - Market size and forecast 2021-2026
      • Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.12 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Bank of America Corp.
              • Exhibit 89: Bank of America Corp. - Overview
              • Exhibit 90: Bank of America Corp. - Business segments
              • Exhibit 91: Bank of America Corp. - Key news
              • Exhibit 92: Bank of America Corp. - Key offerings
              • Exhibit 93: Bank of America Corp. - Segment focus
            • 10.4 BNP Paribas SA
              • Exhibit 94: BNP Paribas SA - Overview
              • Exhibit 95: BNP Paribas SA - Business segments
              • Exhibit 96: BNP Paribas SA - Key offerings
              • Exhibit 97: BNP Paribas SA - Segment focus
            • 10.5 IBK
              • Exhibit 98: IBK - Overview
              • Exhibit 99: IBK - Product / Service
              • Exhibit 100: IBK - Key offerings
            • 10.6 KB Financial Group Inc.
              • Exhibit 101: KB Financial Group Inc. - Overview
              • Exhibit 102: KB Financial Group Inc. - Business segments
              • Exhibit 103: KB Financial Group Inc. - Key offerings
              • Exhibit 104: KB Financial Group Inc. - Segment focus
            • 10.7 Mogo Inc.
              • Exhibit 105: Mogo Inc. - Overview
              • Exhibit 106: Mogo Inc. - Product / Service
              • Exhibit 107: Mogo Inc. - Key offerings
            • 10.8 National Bank of Kuwait S.A.K.P
              • Exhibit 108: National Bank of Kuwait S.A.K.P - Overview
              • Exhibit 109: National Bank of Kuwait S.A.K.P - Business segments
              • Exhibit 110: National Bank of Kuwait S.A.K.P - Key offerings
              • Exhibit 111: National Bank of Kuwait S.A.K.P - Segment focus
            • 10.9 NH Investment and Securities Co. Ltd.
              • Exhibit 112: NH Investment and Securities Co. Ltd. - Overview
              • Exhibit 113: NH Investment and Securities Co. Ltd. - Product / Service
              • Exhibit 114: NH Investment and Securities Co. Ltd. - Key offerings
            • 10.10 Shinhan Financial Group Co. Ltd.
              • Exhibit 115: Shinhan Financial Group Co. Ltd. - Overview
              • Exhibit 116: Shinhan Financial Group Co. Ltd. - Business segments
              • Exhibit 117: Shinhan Financial Group Co. Ltd. - Key offerings
              • Exhibit 118: Shinhan Financial Group Co. Ltd. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 119: Inclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 120: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 121: Research methodology
                • Exhibit 122: Validation techniques employed for market sizing
                • Exhibit 123: Information sources
              • 11.5 List of abbreviations
                • Exhibit 124: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The metaverse market in finance market growth will increase by $$ 50.37 bn during 2023-2026.
              The metaverse market in finance market is expected to grow at a CAGR of 20.93% during 2023-2026.
              Technavio has segmented the metaverse market in finance market by component (Hardware and Software) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              Bank of America Corp., BNP Paribas SA, IBK, KB Financial Group Inc., Mogo Inc., National Bank of Kuwait S.A.K.P, NH Investment and Securities Co. Ltd., Shinhan Financial Group Co. Ltd. are a few of the key vendors in the metaverse market in finance market.
              North America will register the highest growth rate of 32% among the other regions. Therefore, the metaverse market in finance market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the metaverse market in finance market growth are:
              • Integration with VR and AR platforms
              • Development of metaverse wallets
              The metaverse market in finance market vendors should focus on grabbing business opportunities from the hardware segment as it accounted for the largest market share in the base year.
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