DUBLIN--(BUSINESS WIRE)--The "Germany Metaverse Market Intelligence and Future Growth Dynamics Databook - 100+ KPIs Covering Market Size by Sector X Use cases X Technology, Business and Consumer Spend, NFT Spend - Q1 2023" report has been added to ResearchAndMarkets.com's offering.
Metaverse industry in Germany is expected to grow by 36.4% on an annual basis to reach US$5,397.3 million in 2023.
The Metaverse industry is expected to grow steadily over the forecast period, recording a CAGR of 31.4% during 2023-2030. The Metaverse Spend Value in the country will increase from US$3,957.2 million in 2022 to reach US$19,033.8 million by 2030.
The metaverse ecosystem has been growing rapidly in Germany amid the growing interest in emerging technology. From fashion designers to law firms, more individuals and businesses are seeking to boost their presence in the virtual world.
While Philipp Plein, the German-fashion designer, bought a large plot of land in Decentraland for approximately US$1.4 million, Gleiss Lutz, one of the major law firms in Germany, announced the launch of a metaverse office in July 2022. The growing investment in the space will keep driving innovation and market growth in Germany. Consequently, The publisher maintains a robust growth outlook for the sector over the next three to four years.
National railway operator is planning to build an industrial metaverse to improve on-time arrivals in Germany
As firms continue to innovate and develop robust metaverse infrastructure, new use cases are emerging every quarter in the space. In Germany, the national railway operator, Deutsche Bahn, announced the implementation of the industrial metaverse, with the aim to boost operational efficiency and improve on-time arrivals in the country, The firm plans to build its entire 25,000-mile railway network to improve on-time arrivals.
In 2021, the firm had an on-time arrival rate of 75%, and this year it is planning to reach 80%. The delay in arrivals is not only affecting the reputation of the firm but is resulting in mounting losses as well.
One-hour late arrival means that passengers are entitled to a 25% refund, whereas a two-hour late arrival results in a 50% refund. This is having a severe impact on the revenue for the firm.
The industrial metaverse will provide the firm with a photorealistic and physically accurate emulation of the entire railway network. This will assist Deutsche Bahn to figure out the problems, thereby assisting the firm to make fixes and updates faster.
Germany-based sports brands are launching metaverse experiences for their shoppers in the country
The competition in the retail space has intensified over the last few years. As a result, firms are innovating with customer shopping journey to gain competitive advantage over others. The emergence of metaverse has presented German brands with a way to create immersive shopping experiences.
In September 2022, Puma, a German sports firm, announced the launch of its metaverse platform, Black Station, which aims to offer an immersive experience to shoppers. Notably, the platform features exclusive non-fungible tokens with limited edition redeemable physical sneakers.
Before Puma forayed into the metaverse world, Germany's Adidas Originals also launched avatars for the metaverse. In April 2022, the firm introduced a personality-based AI-generated avatar creation platform in collaboration with Ready Player Me. Users can create and animate their avatars, while also digitally trying on and purchasing the sneakers from the metaverse collection.
From the short to medium-term perspective, more consumer-focused brands are expected to foray into the metaverse, as the demand for innovative experiences continues to grow among shoppers across the country.
German metaverse firms are joining the Dubai metaverse strategy to further innovate in the sector
In the Middle East, Dubai announced a metaverse strategy to draw top talent and businesses innovating in the sector. With the Dubai Metaverse Strategy expected to drive significant investment in innovative startups, German firms are seeking to become a part of the growing metaverse ecosystem in the Middle East.
In July 2022, METAYO, a German-based metaverse firm, announced that it will join the Dubai Metaverse Strategy to collaborate on building innovative software solutions. The firm also joined the Metaverse Standards Forum, an organization that includes various firms, startups, and groups, to build global standards in interoperability and security for the rising spatial communications platform.
As the global metaverse industry continues to gain rapid momentum, the publisher expects more such tech firms, based in Germany, to expand their global presence through strategic collaborations. This will also support the growth of the metaverse ecosystem in Germany, thereby driving innovation in the sector over the next three to four years.
Scope
Germany Metaverse Market Size and Future Growth Dynamics by Key Performance Indicators
- Total Spend Value Trend Analysis
- Business Spend Value Trend Analysis- Consumer Spend Value Trend Analysis
Germany Metaverse - Business Spend by Sector Value Trend Analysis, 2021-2030
- Retail Industry
- Technology & Telecommunications Industry
- Financial Services Industry
- Manufacturing Industry
- Travel and Hospitality Industry
- Media & Entertainment Industry
- Training & Education Industry
- Real Estate Industry
- Health & Wellness Industry
- Other
Germany Business Spend on Metaverse by Use Case / Application, 2021-2030
- Retail (Marketing & Advertising, Commerce, Operations & Training)
- Technology & Telecommunications (Marketing & Advertising, Commerce, Operations & Training)
- Financial Services (Marketing & Advertising, Commerce, Operations & Training)
- Manufacturing (Marketing & Advertising, Commerce, Operations & Training]
- Travel and Hospitality (Marketing & Advertising, Commerce, Operations & Training)
- Media & Entertainment (Marketing & Advertising, Commerce, Operations & Training)
- Training & Education (Marketing & Advertising, Commerce, Operations & Training)
- Real Estate (Marketing & Advertising, Commerce, Operations & Training)
- Health & Wellness (Marketing & Advertising, Commerce, Operations & Training)
- Other (Marketing & Advertising, Commerce, Operations & Training)
Germany NFT Spend by Sector Value Trend Analysis, 2021-2030
- Retail Industry
- Technology & Telecommunications Industry
- Financial Services Industry
- Manufacturing Industry
- Travel and Hospitality Industry
- Media & Entertainment Industry
- Training & Education Industry
- Real Estate Industry
- Health & Wellness Industry
- Other Industry
Germany Business Spend on Metaverse by Technology
- By Technology
- Retail Industry
- Technology & Telecommunications
- Financial Services
- Manufacturing Industry
- Travel and Hospitality
- Media & Entertainment
- Training & Education
- Real Estate
- Health & Wellness
- Other
Germany Spend on Metaverse by Platform
- Desktop
- Mobile
- Headset
Germany Ecommerce Spend on Metaverse by Sector (Gross Merchandise Value), 2021-2030
- Retail Shopping
- Travel and Hospitality
- Online Food Service
- Media & Entertainment
- Health & Wellness
- Technology Products & Services
- Other Industries
Germany NFT Market Size and Future Growth Dynamics by Key Performance Indicators
- NFT -Total Sales Spend Value Trend Analysis, 2021-2030
- NFT - Total Sales Spend Volume Trend Analysis, 2021-2030
- NFT - Average Value Per Transaction Trend Analysis, 2021-2030
Germany NFT Market Size and Forecast by Key Assets, 2021-2030
- NFT Collectibles and Art Trend Analysis, 2021-2030
- NFT Real Estate Trend Analysis, 2021-2030
- NFT Sports Trend Analysis, 2021-2030
- NFT Gaming Trend Analysis, 2021-2030
- NFT Utility Trend Analysis, 2021-2030
- NFT Fashion and Luxury Trend Analysis, 2021-2030
- Other Assets Trend Analysis, 2021-2030
Germany Consumer Spend on Metaverse by Device, 2021-2030
- Desktop
- Mobile
- Digital Gadgets
Germany Consumer Spend on Metaverse by Hardware Devices, 2021-2030
- AR (Augmented Reality)
- VR (Virtual Reality)
- MR (Mixed Reality)
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