- France’s metaverse scene is forecast to increase by 31.5% annually in 2023, hitting the $6.7 billion mark.
- By 2030, Metaverse Expenditure is expected to grow from $5.1 to $22.1 Billion.
- The CAGR of the French Metaverse industry is estimated to be 28.6% from 2023-2030.
A new report on the metaverse market forecasts that the industry’s value in France will surge by 31.5% annually, reaching $6.7 billion by the end of 2023.
Details of the report are included in the France Metaverse Market Intelligence Report 2021-2030 which was disclosed to the public on Monday.
France’s Metaverse Industry Predicted to Grow 28.6% from 2023-2030
On the whole, the metaverse industry is an expanding sector in France, with the expected growth rate from 2023 to 2030 being 28.6%. Expenditure on Metaverse By 2030, it is projected that the amount will have increased from $5.1 billion to $22.1 billion.
The report highlights the upswing in metaverse-related business and consumer investments in the country, noting that even though there is increasing momentum, adoption rates are still low. Nevertheless, with massive interest from major brands – such as luxury giant LVMH – there is potential for a continuous adoption curve.
As the French metaverse market heats up, startups from across the country are looking to raise funds in order to speed up their development. These include METAV.RS, a Paris-based metaverse startup that garnered €3 million in October 2022.