Vietnam Metaverse Market By Component Type, By Platform Type, By Technology, By Offerings, By Application, By End User, By Region, Competition, Forecast and Opportunities, 2028

Vietnam Metaverse Market is anticipated to grow at a high CAGR in the forecast period 2024-2028. The growing investment in cutting-edge technologies across the area by key significant players to advance metaverse technology and boosting the effective information technology (IT) expenses by utilising cloud computing services is driving the market in Vietnam. The increasing adoption of advanced virtual reality, 3D simulation, augmented reality, 5G infrastructure, and use of real-time analytics is made possible by artificial intelligence (AI) and machine learning (ML) across the nation in the forecast years contributing towards the market's growth. As digitization takes hold and technology increasingly serves as a catalyst for excellence, the Vietnam Metaverse Market is anticipated to grow over the course of the projected period.

The name "Metaverse," a combination of "meta" and "universe," refering to a fictitious iteration of the internet: a single, shared, immersive, lasting, 3D virtual realm where people may interact with one another and experience life in a way that is not possible in the real world. The metaverse is a convergence of technologies that enables communities of people to share in the experience of a virtual environment. Although it is still in its infancy, technology is swiftly evolving into a vital component of the industry. Faster, better co-creation, and collaboration are made possible by metaverse, opening the door to new business options, deeper insights, and more efficient training and testing.

Companies are already profiting from the ability of the metaverse to provide real-time information from connected devices and systems, user engagements, creative advertising, simple transactions, and virtual event opportunities everywhere. The metaverse, which provides permanent, decentralized, collaborative, and interoperable opportunities and business models, will enable organisations to grow their digital businesses. Extended reality, the Internet of Things, artificial intelligence, blockchain, and 3D reconstruction are some key technologies that enable the potential in the metaverse sector.

Market Overview
Forecast Period	2024-2028
Market Size 2022	USD 978 Million
Market Size 2028	USD 15.44 Billion
CAGR 2023-2028	58.44%
Fastest Growing Segment	Services
Largest Market	Southern Vietnam

An increasing focus on integrating digital and physical worlds using the Internet

Metaverse, a cosmos outside of reality, is expanding due to an increased focus by many businesses on fusing the digital and physical worlds together online. A number of customer service-related companies employ metaverse to improve the customer experience by assisting the consumers with cutting-edge technologies like digital twins and 3D reconstructions. Additionally, businesses may use applications for virtual reality, blockchain, remote monitoring, skill development, and real-time data analysis due to construction of 5G infrastructure.

To connect brands with metaverse, for instance, the "metaverse global congress" was hosted. The event's objectives included learning about new potential for virtual meeting spaces, AR and VR learning, digital commodities, and virtual shops. Therefore, many industries are attempting to integrate them into their operations to meet the growing consumer demand and achieve better response anticipating the demand of metaverse in the market. These benefits include enhancing application performance and business efficiency with cost and time effectiveness.

Rising demands in the media and entertainment industry

The media and entertainment sector, which is growing at an exponential rate, is rapidly adopting augmented reality (AR) and virtual reality (VR). One of the primary factors driving the increase in the use of these technologies is the creation of realistic virtual environments to improve the overall gaming experience. The ability to present a first-person perspective, enable 6-degree freedom, and depict a natural user interface (UI) in devices like MR headsets, VR headsets, Heads Up Displays (HUD), Helmet Mounted Displays (HMD), smart helmets, and smart eyewear boosts their acceptance rate.

User interface designs have become more diverse as a result of the introduction of these devices and solutions provided. The market's leading competitors have made large expenditures as a result of the rapidly expanding demand for mixed reality technology. These elements are propelling Vietnam Metaverse Market's trajectory of revenue growth.

Market Segmentation:

The metaverse market is segmented into component, platform, technology, offerings application, end user, and region. By component, the market is bifurcated into hardware, software and service. Based on platform, the market is segmented into desktop, mobile, and headsets. Based on technology, the market is categorized into blockchain, Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR), and others. The offerings segment is categorized into virtual platforms, asset marketplaces, avatars, and financial services. The application segment is categorized into gaming, online shopping, content creation & social media, events & conference, testing and inspection, and others. Depending on end user, the market is segregated into BFSI, Retail, manufacturing, media & entertainment, education, aerospace & defense, and others.

Market Player

Major market players in the Vietnam metaverse market are Hyperlink InfoSystem, Wizeline Vietnam Company Limited (Vietnam), Vmodev IT Group, InspiLab, Ventuso LLC, SICLO Mobile, Savvycom Vietnam, Elinext IT Solutions Ltd., Waverley Software Vietnam.

Report Scope:

In this report, the Vietnam metaverse market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Vietnam Metaverse Market, By Component Type:

• Hardware
• Software
• Services

Vietnam Metaverse Market, By Platform Type:

• Desktop
• Mobile
• Headsets

Vietnam Metaverse Market, By Technology:

• Blockchain
• Virtual Reality (VR) & Augmented Reality (AR)
• Mixed Reality (MR)
• Others

Vietnam Metaverse Market, By Offerings:

• Virtual Platforms
• Asset Marketplaces
• Avatars
• Financial Services

Vietnam Metaverse Market, By Application:

• Gaming
• Online Shopping
• Content Creation & Social Media
• Events & Conference
• Testing and Inspection
• Others

Vietnam Metaverse Market, By End User:

• BFSI
• Retail
• Manufacturing
• Media & Entertainment
• Education
• Aerospace & Defense
• Others

Vietnam Metaverse Market, By Region:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

Company Profiles: Detailed analysis of the major companies present in the Vietnam metaverse market.

Available Customizations:

Global metaverse market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information:

• Detailed analysis and profiling of additional market players (up to five).