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Metaverse Virtual Assets - Ireland

Ireland

In 2024, the projected value of the Metaverse Virtual Assets market is set to reach €9.5m .
This market is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 19.41%, resulting in a projected market volume of €27.7m by 2030.
Notably, in the United States is the leading generator of value in this market, with a projected market volume of €985.7m in 2024.
Looking specifically at user statistics, the number of users in the Metaverse Virtual Assets market is estimated to reach 91.6k users by 2030.
In 2024, the user penetration rate is projected to be 1.7% and is expected to increase to 1.7% by 2030.
Moreover, the average value per user (ARPU) is anticipated to amount to €109.3 .
It is important to note that these figures pertain to the global market for Metaverse Virtual Assets market, and they provide insights into the potential growth and value generated within this market segment.
In the case of Ireland, its specific contributions to this market are not explicitly mentioned in the provided information.
Ireland's growing tech industry and innovative spirit make it a promising market for Metaverse Virtual Assets.

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Analyst Opinion

The Metaverse Virtual Assets market in Ireland is experiencing significant growth and development.

Customer preferences: Customers in Ireland are increasingly interested in virtual assets within the metaverse. They are drawn to the unique opportunities for social interaction, entertainment, and financial gain that the metaverse offers. The ability to own and trade virtual assets, such as digital real estate, virtual currencies, and virtual goods, has become a popular trend among Irish consumers. They see virtual assets as a way to express their individuality, enhance their online experiences, and even generate income.

Trends in the market: One of the key trends in the Metaverse Virtual Assets market in Ireland is the rise of virtual real estate. Irish consumers are investing in digital land within the metaverse, recognizing its potential for future development and value appreciation. Virtual real estate offers opportunities for businesses to establish a presence in the metaverse, create virtual storefronts, and engage with customers in new and immersive ways. This trend is driven by the increasing adoption of virtual reality technologies and the desire for unique and personalized online experiences. Another trend in the market is the emergence of virtual currencies. Irish consumers are using virtual currencies within the metaverse to purchase virtual goods, services, and experiences. These virtual currencies can be earned through various activities within the metaverse, such as completing virtual tasks, participating in virtual events, or trading virtual assets. The use of virtual currencies provides a seamless and secure payment method within the metaverse, eliminating the need for traditional fiat currencies.

Local special circumstances: Ireland's strong technology sector and digital economy contribute to the growth of the Metaverse Virtual Assets market. The country is home to many technology companies and startups, attracting talent and investment in the digital space. This favorable environment fosters innovation and the development of metaverse platforms and virtual assets. Additionally, Ireland's tech-savvy population and high internet penetration rate create a receptive market for metaverse virtual assets.

Underlying macroeconomic factors: The growth of the Metaverse Virtual Assets market in Ireland is also influenced by broader macroeconomic factors. The increasing digitization of the economy and the shift towards remote work and online activities due to the COVID-19 pandemic have accelerated the adoption of virtual assets. Irish consumers are seeking new ways to connect, socialize, and transact online, driving the demand for metaverse virtual assets. Furthermore, the global trend of decentralized finance (DeFi) and the potential for blockchain technology to revolutionize traditional financial systems also contribute to the growth of the Metaverse Virtual Assets market in Ireland. In conclusion, the Metaverse Virtual Assets market in Ireland is experiencing significant growth and development. Irish consumers are increasingly interested in virtual assets within the metaverse, driven by their desire for unique online experiences and financial opportunities. The rise of virtual real estate and virtual currencies are key trends in the market, fueled by Ireland's strong technology sector and the broader digitization of the economy. These trends are supported by local special circumstances, such as Ireland's tech-savvy population and high internet penetration rate. Additionally, underlying macroeconomic factors, such as the COVID-19 pandemic and the global trend of decentralized finance, contribute to the growth of the Metaverse Virtual Assets market in Ireland.

Methodology

Data coverage:

Figures are based on transaction values, revenues, and assets under management.

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, cloud revenues.

Additional Notes:

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