Market Insights Advertising & Media Metaverse

Metaverse Advertising - China

China

The projected value of the Metaverse Advertising market in China is expected to reach €0.2bn by 2024.
This market segment is anticipated to exhibit an annual growth rate (CAGR 2024-2030) of 27.52%, leading to a projected market volume of €0.9bn by 2030.
In 2024, United States is projected to generate the highest market volume, amounting to €558.4m.
China's booming tech industry is driving innovation in Metaverse advertising, with virtual reality and augmented reality experiences becoming increasingly popular among Chinese consumers.

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Analyst Opinion

The Metaverse Advertising market in China is experiencing significant growth and development due to several key factors.

Customer preferences: Chinese consumers have shown a strong interest in immersive and interactive experiences, making them receptive to Metaverse Advertising. They enjoy exploring virtual worlds and engaging with virtual content, which creates opportunities for brands to connect with them in new and innovative ways. Additionally, Chinese consumers are increasingly tech-savvy and open to embracing new technologies, further driving the demand for Metaverse Advertising.

Trends in the market: One of the key trends in the Metaverse Advertising market in China is the integration of virtual reality (VR) and augmented reality (AR) technologies. This allows brands to create highly immersive and realistic experiences for consumers, enhancing their engagement and brand recall. Virtual shopping experiences, virtual events, and virtual product demonstrations are becoming more common, enabling brands to showcase their offerings in a virtual environment. Another trend is the collaboration between brands and popular virtual platforms or games. By partnering with well-known virtual platforms or games, brands can leverage the existing user base and tap into the popularity of these platforms to reach a wider audience. This also allows for more targeted advertising based on user preferences and behavior within the virtual environment.

Local special circumstances: China has a large and rapidly growing middle class with increasing disposable income. This has led to a rise in consumer spending and a greater demand for unique and personalized experiences. Metaverse Advertising offers brands the opportunity to provide these experiences in a virtual setting, catering to the preferences and desires of Chinese consumers. Furthermore, the Chinese government has shown support for the development of the metaverse industry. It has included the metaverse in its national strategic plan and has provided favorable policies and incentives to encourage its growth. This support has created a conducive environment for companies to invest in metaverse technologies and advertising.

Underlying macroeconomic factors: China's strong economic growth and digital transformation have contributed to the development of the Metaverse Advertising market. The country's robust e-commerce ecosystem, widespread internet penetration, and advanced mobile payment systems have created a solid foundation for the adoption of metaverse technologies. Additionally, the rapid development of 5G infrastructure in China has further accelerated the growth of the Metaverse Advertising market, as it enables faster and more seamless virtual experiences. In conclusion, the Metaverse Advertising market in China is thriving due to customer preferences for immersive experiences, the integration of VR and AR technologies, collaborations with popular virtual platforms, a growing middle class with increasing disposable income, government support, and favorable macroeconomic factors. These factors are driving the growth and development of the market, providing opportunities for brands to engage with Chinese consumers in innovative ways.

Methodology

Data coverage:

Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.