Market Insights Advertising & Media Metaverse

Metaverse Advertising - Ireland

Ireland

The value of the Metaverse Advertising market in Ireland is projected to reach €5.6m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2030) of 26.98%, resulting in a projected market volume of €23.6m by 2030.
The United States generates the most value in the market, with a projected market volume of €550.5m in 2024.
Ireland's booming tech industry and vibrant creative scene position it as a prime market for Metaverse Advertising, attracting both local and international brands to engage with its tech-savvy population.

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Analyst Opinion

The Metaverse Advertising market in Ireland is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Ireland are shifting towards immersive and interactive digital experiences.

With the increasing popularity of virtual reality (VR) and augmented reality (AR) technologies, consumers are embracing the concept of the metaverse and are eager to engage with brands and advertisements in this virtual space. This preference for immersive experiences is driving the demand for metaverse advertising in Ireland. Trends in the market also contribute to the growth of the Metaverse Advertising market in Ireland.

Companies are recognizing the potential of the metaverse as a new advertising platform and are investing in creating virtual spaces for their brands within the metaverse. This trend is fueled by the increasing adoption of metaverse platforms by consumers, as well as the growing number of virtual events and gatherings taking place in the metaverse. As more brands and advertisers enter the metaverse, the market for metaverse advertising in Ireland is expanding.

Local special circumstances in Ireland further contribute to the development of the Metaverse Advertising market. Ireland has a strong technology sector and is home to many multinational companies, making it an attractive market for metaverse platforms and advertisers. Additionally, the Irish population has a high level of digital literacy and is known for being early adopters of new technologies.

These factors create a favorable environment for the growth of the Metaverse Advertising market in Ireland. Underlying macroeconomic factors also play a role in the development of the Metaverse Advertising market in Ireland. The Irish economy has been growing steadily in recent years, with a strong focus on technology and innovation.

This economic growth provides a solid foundation for the expansion of the Metaverse Advertising market, as businesses have the financial resources to invest in metaverse advertising campaigns. Furthermore, the increasing digitization of the economy and the shift towards online and virtual experiences due to the COVID-19 pandemic have accelerated the adoption of metaverse advertising in Ireland. In conclusion, the Metaverse Advertising market in Ireland is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As consumers embrace immersive digital experiences, companies invest in metaverse advertising, and the Irish economy continues to thrive, the Metaverse Advertising market in Ireland is poised for further expansion in the coming years.

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.