Market Insights Advertising & Media Metaverse

Metaverse Live Entertainment - Ireland

Ireland

The Metaverse Live Entertainment market is projected to reach a value of €0.8m in 2024 in Ireland.
This value is expected to show an annual growth rate (CAGR 2024-2030) of 10.95%, resulting in a projected market volume of €1.5m by 2030.
With a projected market volume of €82.7m in 2024, United States generates the most value in the Metaverse Live Entertainment market in Ireland.
In terms of user numbers, it is expected that there will be 6.4k users users in the Metaverse Live Entertainment market by 2030.
User penetration is projected to be 0.1% in 2024 and is expected to increase to 0.1% by 2030.
The average value per user (ARPU) is expected to amount to €176.3.
Ireland is experiencing a surge in virtual concerts and immersive experiences, making it a hotbed for Metaverse Live Entertainment.

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Région

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Monnaie

Analyst Opinion

The Metaverse Live Entertainment market in Ireland is experiencing significant growth and development.

Customer preferences: Customers in Ireland are increasingly seeking immersive and interactive experiences in the entertainment industry. The Metaverse Live Entertainment market offers a unique opportunity for individuals to engage with virtual reality and augmented reality technologies, allowing them to participate in live events and performances from the comfort of their own homes. This appeals to a wide range of customers, including those who may have limited access to physical venues or prefer the convenience of virtual experiences.

Trends in the market: One of the key trends in the Metaverse Live Entertainment market in Ireland is the rise of virtual concerts and festivals. Artists and musicians are leveraging the power of the Metaverse to reach a global audience and provide unique and memorable experiences. Virtual concerts allow for unlimited attendance, eliminating the constraints of physical venues. This trend is particularly appealing to both local and international artists, as it enables them to connect with fans in Ireland and beyond, without the need for extensive travel. Another trend in the market is the integration of social features within the Metaverse Live Entertainment experiences. Users can interact and socialize with other attendees, creating a sense of community and shared experiences. This social aspect enhances the overall entertainment value and encourages repeat participation. Additionally, virtual reality technology is becoming more accessible and affordable, further driving the adoption of Metaverse Live Entertainment experiences in Ireland.

Local special circumstances: Ireland has a vibrant arts and culture scene, with a strong tradition of music and performance. The Metaverse Live Entertainment market provides an innovative platform for local artists and performers to showcase their talent and reach a wider audience. This is particularly relevant in light of the challenges faced by the live events industry during the COVID-19 pandemic, as virtual experiences offer a safe and accessible alternative.

Underlying macroeconomic factors: The growth of the Metaverse Live Entertainment market in Ireland is also influenced by underlying macroeconomic factors. The increasing availability of high-speed internet and advancements in technology infrastructure have facilitated the adoption of virtual reality and augmented reality experiences. Additionally, the rise of remote work and flexible lifestyles has created a greater demand for digital entertainment options, making the Metaverse Live Entertainment market an attractive proposition for both consumers and businesses. In conclusion, the Metaverse Live Entertainment market in Ireland is flourishing due to customer preferences for immersive experiences, the emergence of virtual concerts and festivals, the integration of social features, the local arts and culture scene, and underlying macroeconomic factors. As technology continues to advance and virtual experiences become more sophisticated, the market is expected to further expand, providing exciting opportunities for both consumers and businesses in Ireland.

Methodology

Data coverage:

Figures are based on in-app spending, consumer spending, app downloads, and investment and funding data.

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.