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Metaverse Market in Finance by Component and Geography - Forecast and Analysis 2023-2027

  • Published: Oct 2022
  • Pages: 146
  • SKU: IRTNTR73448
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The metaverse market share in finance report estimates?is estimated to grow at a CAGR of 21.33%?between 2022 and 2027. The size of the market is forecast to increase by?USD 107.06 billion.?The growth of the market depends on several factors, including the integration with VR and AR platforms, the emergence of artificial intelligence (AI), and the increasing popularity and adoption of cryptocurrencies. 

This report extensively covers component (hardware and software), end-user (brokerage firms, investment banks, commercial banks, and others),?and geography (APAC, North America, Europe, Middle East, and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021. 

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

Metaverse Market in Finance Size

Download Report Sample to Unlock the metaverse market in finance Size for the Forecast Period and Other Important Statistics

Parent Market Analysis 

Technavio categorizes the global metaverse market in finance as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals.?Our research report has extensively covered external factors influencing the parent market growth during the forecast period. 

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

The integration with VR and AR platforms are notably driving the metaverse market in finance growth, although factors such as privacy and security concerns over the metaverse may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.   

Key Metaverse Market in Finance Driver

The integration with VR and AR platforms are notably driving the metaverse market in finance growth. Banks are considering strategies to expand their presence in the metaverse and offer better services to consumers who will be spending more time there, in addition to offering payment platforms. For example, using VR glasses, customers will be able to handle all their banking and financial activities from anywhere and in a far more immersive way than that possible on a phone app. Participants can now track and visualize financial markets in more depth, owing to enhanced AR or mixed reality (MR)-based stock trading and investment. In terms of market data analysis, there has been a massive change from flat graphics and charts to holographic representations, 3D figures, and smart heat maps. This technology has also 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. The use of these elements to meet the needs of clients, including their desire to participate in the crypto and metaverse economies, will allow banks to manage the digital transition successfully, regardless of how this new world appears. Such factors will contribute to market expansion during the forecast period.

Key Metaverse Market in Finance Trend

Increasing focus on VR and AR is the primary trend driving the metaverse market in finance growth. Technological innovations will further increase the demand for AR and VR applications during the forecast period. These applications enable users to use technology in a more user-friendly way and could improve the applicability of AR in our daily lives. For example, Google's Project Glass provides access to various AR applications. Developing AR Android applications can give users a new experience in both offline and online shopping. A virtual fitting room helps users choose the right size and reduce the chances of returns. A similar advantage is associated with choosing a new car color or new furniture for an apartment or house. The expanding application areas of AR and VR technologies in various fields, including finance, will further accelerate the growth of the global metaverse market in finance during the forecast period.

Key Metaverse Market in Finance Challenge

Privacy and security concerns over the metaverse may impede the metaverse market in finance growth. Even though companies and financial organizations keep upgrading their IT security systems, data privacy and security has been a long-running concern for users of the metaverse. The metaverse collects and processes vast amounts of information about users and their environment. Privacy concerns, therefore, are a major challenge for the market. Metaverse can access the personal data of users and may pose a threat to their privacy. It can collect a lot of information from the user's social networking accounts. User privacy can also be threatened if hackers gain access to the user's device. Moreover, there are privacy-related concerns associated with smart devices used in the metaverse, such as smart glasses, VR headsets, and others. These glasses automatically screen and process the user's environment, violating the privacy of the user and those around them. Any security or privacy violation might lead to trouble and ruin the organization's reputation. Furthermore, because the metaverse is constantly evolving, organizations are concerned about the security of these platforms. Due to the fact that it is entirely online, security-related and privacy-related vulnerabilities may arise in the near future. Such factors may hamper the growth of the market in focus during the forecast period.

Key Metaverse Market in Finance Customer Landscape

Our analysis of the lifecycle of the global metaverse market in finance from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the global metaverse market in finance, focusing on the adoption rates of the major regions such as the US, Canada, China, Germany, and the UK. Our researchers have included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies for 2022-2027.

Metaverse in Finance Market Share by Geography

Global Metaverse Market in Finance Customer Landscape

Who are the Major Metaverse Market in Finance Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market 

Shinhan Financial Group Co. Ltd. - The company operates under multiple segments including banking, credit cards, securities, etc. with a high focus on the banking segment. Under this segment, the company offers commercial banking and related services and includes retail banking, corporate banking, international banking, and other banking. The company offers metaverse in finance for digital banking services.

We also have detailed analyses of the market’s competitive landscape and offer information on major market vendors, such as

  • Bank of America Corp.
  • BNP Paribas SA
  • HSBC Holdings Plc
  • IBK Industrial Bank of Korea
  • JPMorgan Chase & Co.
  • KB Financial Group Inc.
  • Mogo Inc.
  • National Bank of Kuwait S.A.K.P
  • NH Investment & Securities Co. Ltd.
  • Shinhan Financial Group Co. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. 

What is the Fastest-Growing Segment in the Metaverse Market in Finance?

The market share growth 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. This can be a mobile or web-based experience. There are numerous ways that VR and AR can change the finance industry, including in terms of data visualization, virtual trading, VR payments, and virtual branches.

Metaverse Market in Finance Size

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The hardware segment showed a gradual increase in market share, from USD 16.25 billion in 2017 and continued to grow by 2021.  Furthermore, our report provides a brief analysis of historical and forecast market share and their segments along with their reasons for growth from 2017 to 2027.

The growth of this segment is primarily attributed to the increasing adoption of the metaverse market in finance by residential consumers, which is driven by changing lifestyles and a growing preference for comfort.

Which are the Key Regions for the Metaverse Market in Finance?

Metaverse in Finance Market Share by Geography

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APAC is projected to contribute 32% by 2023. Another region offering significant growth opportunities to vendors is North America. Our analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

In 2022, North America held the highest share of the global metaverse market in finance. Factors such as the increasing adoption of VR and AR technologies by financial institutions and banks, the rising popularity and acceptance of cryptocurrencies and blockchain technology, the increased focus on improving customer experience and exploring the potential of immersive technologies, and the rapid adoption of metaverse platforms to align financial services and businesses with metaverse goals are propelling the market forward in the region. The US and Canada are the largest contributors to the market in the region. Several suppliers have established a large presence in the US, including Meta Platforms, Inc. and Microsoft Corp. As a result, during the forecast period, all of these factors are expected to support regional market expansion.

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The rapid spread of COVID-19 impacted the overall economy of North America, especially the US, in 2020. Several commercial enterprises, industries, and institutions partially shut down their operations due to the imposition of stringent lockdowns. The lockdowns in the region compelled people to work from home to mitigate the threat of COVID-19. Therefore, the time spent by people in the US in 2020 on digital media increased by 15% when compared to that in 2019. Thus, this further increased the demand for VR/AR platforms, which accelerated the demand in the metaverse market in finance in the region. During the forecast period, increasing Internet penetration and a growing interest in digital asset creation and purchase are expected to escalate the growth of the regional market.

Segment Overview

Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2028. We have segmented the market based on type, product, distribution channel, and region.

  • Component Outlook (USD Million, 2017 - 2027)
    • Hardware
    • Software
  • End-user Outlook (USD Million, 2017 - 2027)
    • Brokerage firms
    • Investment banks
    • Commercial banks
    • Others
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • South America
      • Chile
      • Brazil
      • Argentina
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

    Metaverse Market in Finance Scope

    Report Coverage

    Details

    Page number

    120

    Base year

    2022

    Historical year

    2017-2021

    Forecast period

    2023-2027

    Growth momentum & CAGR

    Accelerate at a CAGR of 21.33%

    Market growth 2023-2027

    $107.06 billion

    Market structure

    Concentrated

    YoY growth (%)

    20.59

    Regional analysis

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

    Performing market contribution

    APAC 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, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase & Co., KB Financial Group Inc., Mogo Inc., National Bank of Kuwait S.A.K.P, NH Investment & 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, and Market condition analysis for the forecast period.

    Customization purview

    If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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 2023-2027
    • Detailed information on factors that will drive the metaverse market in finance growth during the next five years
    • Precise estimation of the metaverse market in finance size and its contribution to the parent market
    • Accurate predictions on upcoming trends and changes in consumer behavior
    • The growth of the metaverse in the finance industry across North America, Europe, APAC, South America, and the 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 the metaverse market in finance vendors

    We can help! Our analysts can customize this report to meet your requirements. Get in touch

 

 

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 Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

    5 Market Segmentation by Component

    • 5.1 Market segments
      • Exhibit 25: Chart on Component - Market share 2022-2027 (%)
      • Exhibit 26: Data Table on Component - Market share 2022-2027 (%)
    • 5.2 Comparison by Component
      • Exhibit 27: Chart on Comparison by Component
      • Exhibit 28: Data Table on Comparison by Component
    • 5.3 Hardware - Market size and forecast 2022-2027
      • Exhibit 29: Chart on Hardware - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 30: Data Table on Hardware - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 31: Chart on Hardware - Year-over-year growth 2022-2027 (%)
      • Exhibit 32: Data Table on Hardware - Year-over-year growth 2022-2027 (%)
    • 5.4 Software - Market size and forecast 2022-2027
      • Exhibit 33: Chart on Software - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 34: Data Table on Software - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Chart on Software - Year-over-year growth 2022-2027 (%)
      • Exhibit 36: Data Table on Software - Year-over-year growth 2022-2027 (%)
    • 5.5 Market opportunity by Component
      • Exhibit 37: Market opportunity by Component ($ billion)

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 38: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 39: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 40: Chart on Comparison by End-user
      • Exhibit 41: Data Table on Comparison by End-user
    • 6.3 Brokerage firms - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Brokerage firms - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 43: Data Table on Brokerage firms - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 44: Chart on Brokerage firms - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Brokerage firms - Year-over-year growth 2022-2027 (%)
    • 6.4 Investment banks - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Investment banks - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 47: Data Table on Investment banks - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Chart on Investment banks - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Investment banks - Year-over-year growth 2022-2027 (%)
    • 6.5 Commercial banks - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Commercial banks - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 51: Data Table on Commercial banks - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Chart on Commercial banks - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Commercial banks - Year-over-year growth 2022-2027 (%)
    • 6.6 Others - Market size and forecast 2022-2027
      • Exhibit 54: Chart on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 55: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 56: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 57: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by End-user
      • Exhibit 58: Market opportunity by End-user ($ billion)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 60: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 61: Data Table on Market share by geography 2022-2027 (%)
    • 8.2 Geographic comparison
      • Exhibit 62: Chart on Geographic comparison
      • Exhibit 63: Data Table on Geographic comparison
    • 8.3 North America - Market size and forecast 2022-2027
      • Exhibit 64: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 65: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 67: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 8.4 Europe - Market size and forecast 2022-2027
      • Exhibit 68: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 69: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 71: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 8.5 APAC - Market size and forecast 2022-2027
      • Exhibit 72: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 73: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 75: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 8.6 South America - Market size and forecast 2022-2027
      • Exhibit 76: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 77: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 79: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 8.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 8.8 US - Market size and forecast 2022-2027
      • Exhibit 84: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 85: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 87: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 8.9 China - Market size and forecast 2022-2027
      • Exhibit 88: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 89: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 91: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 8.10 Germany - Market size and forecast 2022-2027
      • Exhibit 92: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 93: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 95: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 8.11 UK - Market size and forecast 2022-2027
      • Exhibit 96: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 97: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 99: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 8.12 Canada - Market size and forecast 2022-2027
      • Exhibit 100: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 101: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 103: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 8.13 Market opportunity by geography
      • Exhibit 104: Market opportunity by geography ($ billion)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 105: Impact of drivers and challenges in 2022 and 2027
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 107: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 108: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 109: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 110: Matrix on vendor position and classification
            • 11.3 Bank of America Corp.
              • Exhibit 111: Bank of America Corp. - Overview
              • Exhibit 112: Bank of America Corp. - Business segments
              • Exhibit 113: Bank of America Corp. - Key news
              • Exhibit 114: Bank of America Corp. - Key offerings
              • Exhibit 115: Bank of America Corp. - Segment focus
            • 11.4 BNP Paribas SA
              • Exhibit 116: BNP Paribas SA - Overview
              • Exhibit 117: BNP Paribas SA - Business segments
              • Exhibit 118: BNP Paribas SA - Key offerings
              • Exhibit 119: BNP Paribas SA - Segment focus
            • 11.5 HSBC Holdings Plc
              • Exhibit 120: HSBC Holdings Plc - Overview
              • Exhibit 121: HSBC Holdings Plc - Business segments
              • Exhibit 122: HSBC Holdings Plc - Key news
              • Exhibit 123: HSBC Holdings Plc - Key offerings
              • Exhibit 124: HSBC Holdings Plc - Segment focus
            • 11.6 IBK Industrial Bank of Korea
              • Exhibit 125: IBK Industrial Bank of Korea - Overview
              • Exhibit 126: IBK Industrial Bank of Korea - Product / Service
              • Exhibit 127: IBK Industrial Bank of Korea - Key offerings
            • 11.7 JPMorgan Chase and Co.
              • Exhibit 128: JPMorgan Chase and Co. - Overview
              • Exhibit 129: JPMorgan Chase and Co. - Business segments
              • Exhibit 130: JPMorgan Chase and Co. - Key offerings
              • Exhibit 131: JPMorgan Chase and Co. - Segment focus
            • 11.8 KB Financial Group Inc.
              • Exhibit 132: KB Financial Group Inc. - Overview
              • Exhibit 133: KB Financial Group Inc. - Business segments
              • Exhibit 134: KB Financial Group Inc. - Key offerings
              • Exhibit 135: KB Financial Group Inc. - Segment focus
            • 11.9 Mogo Inc.
              • Exhibit 136: Mogo Inc. - Overview
              • Exhibit 137: Mogo Inc. - Product / Service
              • Exhibit 138: Mogo Inc. - Key offerings
            • 11.10 National Bank of Kuwait S.A.K.P
              • Exhibit 139: National Bank of Kuwait S.A.K.P - Overview
              • Exhibit 140: National Bank of Kuwait S.A.K.P - Business segments
              • Exhibit 141: National Bank of Kuwait S.A.K.P - Key offerings
              • Exhibit 142: National Bank of Kuwait S.A.K.P - Segment focus
            • 11.11 NH Investment and Securities Co. Ltd.
              • Exhibit 143: NH Investment and Securities Co. Ltd. - Overview
              • Exhibit 144: NH Investment and Securities Co. Ltd. - Product / Service
              • Exhibit 145: NH Investment and Securities Co. Ltd. - Key offerings
            • 11.12 Shinhan Financial Group Co. Ltd.
              • Exhibit 146: Shinhan Financial Group Co. Ltd. - Overview
              • Exhibit 147: Shinhan Financial Group Co. Ltd. - Business segments
              • Exhibit 148: Shinhan Financial Group Co. Ltd. - Key offerings
              • Exhibit 149: Shinhan Financial Group Co. Ltd. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 150: Inclusions checklist
                • Exhibit 151: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 152: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 153: Research methodology
                • Exhibit 154: Validation techniques employed for market sizing
                • Exhibit 155: Information sources
              • 12.5 List of abbreviations
                • Exhibit 156: List of abbreviations
              • demand for infrastructure-as-a-service (IaaS): The ongoing migration from on-premise infrastructure to cloud-based services is having an impact on the revenues of original equipment manufacturers (OEMs) of servers, albeit the adverse impact on them is slightly milder than the effect on storage equipment. The emergence of IaaS has had a strong impact on the IT hardware market. The biggest advantage of IaaS is that it allows enterprises to scale operations or introduce innovations in the workflow without the need to make substantial investments in storage and servers for the traditional on-premise hardware environment. At the same time, cloud-focused infrastructure spending is expected to increase in terms of server, disk storage, and networking hardware.

                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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                Metaverse in Finance market growth will increase by $107.06 billion during 2023-2027.
                The metaverse in finance market is expected to grow at a CAGR of 21.33% during 2023-2027.
                Technavio has segmented the metaverse in finance market by component (Hardware and Software) ,end-user (Brokerage firms, Investment banks, Commercial banks, Others, and Middle East and Africa) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
                Bank of America Corp., BNP Paribas SA, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase and Co., 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 in finance market.
                APAC will register the highest growth rate of 32.38% among the other regions. Therefore, the metaverse in finance market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the metaverse in finance market growth are:
                • Integration with VR and AR platforms
                • Development of metaverse wallets
                The metaverse 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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