Technological advancements in metaverse, increasing popularity and adoption of cryptocurrencies, and use of metaverse
VANCOUVER, BRITISH COLUMBIA, CANADA, August 8, 2022 /EINPresswire.com/ — Blockchain Segment to Account for Largest Revenue Share:
Blockchain segment is expected to account for largest revenue share over the forecast period attributable to increasing popularity and adoption of cryptocurrency in metaverse, rising use of blockchain to smart contracts and carry out secure financial transactions, and advancements in metaverse crypto projects. Blockchain offers digital proof of ownership for assets in metaverse and this ensure enhanced compatibility and interoperability in the metaverse.
Market Dynamics:
Advancements in metaverse are expected to boost its adoption in the finance and business sector with a sharp focus on social connection. Businesses can leverage metaverse to advertise their products and will open up new opportunities for entirely digital products. Increasing focus on virtual reality, digital assets, blockchain and cryptocurrency, rising use of metaverse technology to streamline financial data management, and development of metaverse wallets are some factors expected to drive market revenue growth over the forecast period. Rapid adoption of metaverse technology by traditional financial institutions, integration of decentralized finance protocols, and growing popularity of NFTs are some other factors expected to further contribute to revenue share over the forecast period.
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Metaverse is expected to create lucrative opportunities in the finance sector as increasing number of financial institutions are integrating metaverse with their financial services to provide better offerings and enhance customer experience. Metaverse can play a crucial role in management of large datasets of financial transactions. Blockchain and cryptocurrencies can further improve security of the transactions and prevent frauds and suspicious activities. In addition, numerous banks and financial institutions have started using VR and AR in financial projects to strengthen customer relations, provide coaching and personalized guidance, and accelerate digitized banking and these factors are expected to fuel revenue growth of the market going ahead. Increasing collaboration of fintech firms and financial institutions with metaverse-based companies to drive development of digital banks in the metaverse are some other factors that can drive market growth going ahead.
Some prominent companies included in the report are:
Bank of America
BNP Paribas
National Bank of Kuwait
Kookmin Bank
Shinhan Bank
IBK Investment & Securities
NH Investment & Securities
Mogo, Inc.
For the purpose of this report, Emergen Research has segmented the global metaverse in finance market on the basis of component, technology, end use, and region:
Component Outlook (Revenue, USD Billion; 2018-2028)
Hardware
Software
Technology Outlook (Revenue, USD Billion; 2018-2028)
Blockchain
Metaverse Wallets
Virtual Assistants
Non-fungible Tokens (NFT)
End Use Outlook (Revenue, USD Billion; 2018-2028)
Brokerage Firms
Investment Banks
Financial Institutions
Fintech Companies
Digital Asset Management Companies
Financial Advisory Companies
Commercial Banks
Investment Banks Segment to Register Robust Revenue Growth:
Investment banks segment is expected to register robust revenue growth over the forecast period attributable to rapid adoption of metaverse technologies by major investment banks across the globe to enhance customer experience, increasing utilization of technology to develop branches in metaverse, and to offer training and others skills to bank employees.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue to expand at robust revenue CAGR over the forecast period owing to increasing number of financial companies and banks entering the metaverse with their own platforms, rapid adoption of metaverse technology by brokerage banks and credit card insurers to update their business models, and growing acceptance of cryptocurrencies in the region.
The report mainly studies the Metaverse in Finance market size, recent trends and development status, investment opportunities, market dynamics(e.g. driving factors, limiting factors) and industry news(e.g. mergers, acquisitions and investments). Technological innovations and advancements will further optimize the performance of the product so that it is more widely used in downstream applications. In addition, Porter’s five force analyses (potential entrants, suppliers, substitutes, buyers, and industry
By Regions:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Rapid Business Growth Factors
In addition, the market is growing at a fast pace and the report shows us that there are a couple of key factors behind that. The most important factor that’s helping the market grow faster than usual is the tough competition.
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Highlights of the Metaverse in Finance Market Report:
This research report focuses on the Metaverse in Finance Market overview, market share, demand and supply ratio, and import/export details, supply chain analysis, and others.
The report includes different approaches and procedures used by established market players for efficient business decisions.
The report offers detailed information regarding the production value, strategies adopted by the key market players, their products/services offerings, and many more.
Key Coverage of report:
Market share valuations of the segments on a country and global level.
Market share analysis of the major market players.
Opportunities and growth prospects for the new market entrants.
Market forecast for all the segments, sub-segments of the market.
Market Trends (drivers, restraints, opportunities, challenges, threats, investment opportunities, and approvals)
Strategic endorsements in the key business segments on the basis of market valuations.
Competitive landscape mapping of the key development patterns.
Company profiling with detailed strategies, financial details, and recent developments.
Latest supply chain trends and technological advancements.
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