Metaverse market in finance to grow by 20.59% Y-O-Y from 2022 to 2023: Integration With VR and AR Platforms will Drive Growth - Technavio

NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Metaverse market in finance insights -

• Vendors: 15+, Including 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., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Component, End-user, and Geography

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In 2017, the metaverse market in finance was valued at USD 25.58 billion. From a regional perspective, APAC held the largest market share, valued at USD 6.09 billion. The metaverse market size in finance is estimated to grow by USD 107.06 billion from 2022 to 2027 at a CAGR of 21.33% according to Technavio.

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a report sample!

The global metaverse market in finance is concentrated. The market is subject to rapidly changing consumer demands and preferences. Vendor performance may be affected by global and regional economic conditions and various other demographic trends. Vendors compete based on several factors such as quality, price, service, brand image, distribution, and marketing. Most vendors are innovating their existing products or introducing new product lines to sustain the market competition. Some vendors are focusing on acquiring smaller brands to increase their market presence. The market is expected to witness the entry of a large number of pureplay technology or other players, which will intensify competition during the forecast period. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including -

• Bank of America Corp. - The company offers metaverse in finance through VR Training programs.
• BNP Paribas SA - The company offers metaverse in finance through W.I.R.E.D. (Wearable Immersive Real Estate Dataroom).
• HSBC Holdings Plc - The company offers metaverse in finance with the use of augmented reality, virtual reality, and extended reality.

Major Drivers:

• Integration with VR and AR platforms
• The emergence of artificial intelligence (AI)
• Increasing popularity and adoption of cryptocurrencies

Key Challenges:

• Privacy and security concerns over metaverse
• Lack of skilled employees
• System configuration issues

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The metaverse market in finance report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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• 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 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 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

Related Reports:

• According to Technavio's analyst, the metaverse market size in travel and tourism industry is expected to be valued at USD 188.24 billion in 2026 with a progressing CAGR of 26.01%. The increasing demand for AR and VR technology is notably driving the metaverse market growth in the travel and tourism industry, although factors such as privacy and security concerns over the metaverse may impede the market growth.
• The metaverse in e-commerce market is estimated to grow at a CAGR of 39.65% between 2022 and 2027. The size of the market is forecast to increase by USD 85,885.22 million. The growing popularity of AR technology is notably driving the market growth, although factors such as privacy and security concerns over the metaverse may impede the market growth.

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 Historic Market Size

• 4.1 Global metaverse market in finance 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global metaverse market in finance 2017 - 2021 ($ billion)

• 4.2 Component Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ billion)

• 4.3 End-user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Hardware - Market size and forecast 2022-2027
• Exhibit 34: Chart on Hardware - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Hardware - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 6.4 Software - Market size and forecast 2022-2027
• Exhibit 38: Chart on Software - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Software - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component
• Exhibit 42: Market opportunity by Component ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user
• Exhibit 45: Chart on Comparison by End-user
• Exhibit 46: Data Table on Comparison by End-user

• 7.3 Brokerage firms - Market size and forecast 2022-2027
• Exhibit 47: Chart on Brokerage firms - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Brokerage firms - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Brokerage firms - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Brokerage firms - Year-over-year growth 2022-2027 (%)

• 7.4 Investment banks - Market size and forecast 2022-2027
• Exhibit 51: Chart on Investment banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Investment banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Investment banks - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Investment banks - Year-over-year growth 2022-2027 (%)

• 7.5 Commercial banks - Market size and forecast 2022-2027
• Exhibit 55: Chart on Commercial banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Commercial banks - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Commercial banks - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Commercial banks - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by End-user
• Exhibit 63: Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 105: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography
• Exhibit 109: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Bank of America Corp.
• Exhibit 116: Bank of America Corp. - Overview
• Exhibit 117: Bank of America Corp. - Business segments
• Exhibit 118: Bank of America Corp. - Key news
• Exhibit 119: Bank of America Corp. - Key offerings
• Exhibit 120: Bank of America Corp. - Segment focus

• 12.4 BNP Paribas SA
• Exhibit 121: BNP Paribas SA - Overview
• Exhibit 122: BNP Paribas SA - Business segments
• Exhibit 123: BNP Paribas SA - Key offerings
• Exhibit 124: BNP Paribas SA - Segment focus

• 12.5 HSBC Holdings Plc
• Exhibit 125: HSBC Holdings Plc - Overview
• Exhibit 126: HSBC Holdings Plc - Business segments
• Exhibit 127: HSBC Holdings Plc - Key news
• Exhibit 128: HSBC Holdings Plc - Key offerings
• Exhibit 129: HSBC Holdings Plc - Segment focus

• 12.6 IBK Industrial Bank of Korea
• Exhibit 130: IBK Industrial Bank of Korea - Overview
• Exhibit 131: IBK Industrial Bank of Korea - Product / Service
• Exhibit 132: IBK Industrial Bank of Korea - Key offerings

• 12.7 JPMorgan Chase and Co.
• Exhibit 133: JPMorgan Chase and Co. - Overview
• Exhibit 134: JPMorgan Chase and Co. - Business segments
• Exhibit 135: JPMorgan Chase and Co. - Key offerings
• Exhibit 136: JPMorgan Chase and Co. - Segment focus

• 12.8 KB Financial Group Inc.
• Exhibit 137: KB Financial Group Inc. - Overview
• Exhibit 138: KB Financial Group Inc. - Business segments
• Exhibit 139: KB Financial Group Inc. - Key offerings
• Exhibit 140: KB Financial Group Inc. - Segment focus

• 12.9 Mogo Inc.
• Exhibit 141: Mogo Inc. - Overview
• Exhibit 142: Mogo Inc. - Product / Service
• Exhibit 143: Mogo Inc. - Key offerings

• 12.10 National Bank of Kuwait S.A.K.P
• Exhibit 144: National Bank of Kuwait S.A.K.P - Overview
• Exhibit 145: National Bank of Kuwait S.A.K.P - Business segments
• Exhibit 146: National Bank of Kuwait S.A.K.P - Key offerings
• Exhibit 147: National Bank of Kuwait S.A.K.P - Segment focus

• 12.11 NH Investment and Securities Co. Ltd.
• Exhibit 148: NH Investment and Securities Co. Ltd. - Overview
• Exhibit 149: NH Investment and Securities Co. Ltd. - Product / Service
• Exhibit 150: NH Investment and Securities Co. Ltd. - Key offerings

• 12.12 Shinhan Financial Group Co. Ltd.
• Exhibit 151: Shinhan Financial Group Co. Ltd. - Overview
• Exhibit 152: Shinhan Financial Group Co. Ltd. - Business segments
• Exhibit 153: Shinhan Financial Group Co. Ltd. - Key offerings
• Exhibit 154: Shinhan Financial Group Co. Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
• Exhibit 155: Inclusions checklist
• Exhibit 156: Exclusions checklist

• 13.3 Currency conversion rates for US$
• Exhibit 157: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 158: Research methodology
• Exhibit 159: Validation techniques employed for market sizing
• Exhibit 160: Information sources

• 13.5 List of abbreviations
• Exhibit 161: 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.

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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