Japanese Metaverse Market to Exceed ¥2T by 2027

On August 30, 2023, Yano Research Institute investigated the domestic Metaverse market and announced the market overview and trends of Metaverse operators. The detailed market research material ``2023 Metaverse Market Trends and Prospects'' is on sale for 253,000 yen (tax included).
 
From April to July of the same year, the company conducted a survey of domestic Metaverse market trends targeting domestic businesses that provide Metaverse-related technologies and services. As a result, the fiscal year 2022 is estimated to be 137.7 billion yen, 173.6% compared to the previous year. It is expected to grow by 207.0% to 285.1 billion yen in 2023, and is expected to exceed 2 trillion yen in 2027.
 
Until 2022, many companies have been actively investing in metaverse projects and conducting demonstration experiments through various business collaborations and collaborations. Furthermore, as local governments and governments also participated in initiatives that utilized the Metaverse, recognition quickly spread, creating what could be described as a frenzied boom.
 
In 2023, the boom has subsided and the special situation of remote work due to the coronavirus pandemic has disappeared, so it can be said that we have entered a phase where the environment for accelerating business development is in place. An increasing number of companies are increasing their business performance by clarifying their business models and improving the market environment, and we can expect full-fledged expansion of the Metaverse market in the future.
 
The Metaverse has a high affinity with AI (artificial intelligence) and is expected to be a factor that accelerates its utilization, so many companies entering the market are conducting AI-related research and development. First, the number of companies using Metaverse will increase in the corporate market, and then the market will expand driven by consumer users, so it is predicted that the market size will exceed 2 trillion yen by fiscal 2027.
 
On the other hand, there are currently many issues that need to be resolved in order to utilize AI for corporations, such as copyright infringement and reliability. As a prerequisite for the utilization and dissemination of AI in the Metaverse, it is our responsibility to ensure safety.


Source: MONOist