Metaverse to push extended reality market spends and CDN revenue
The extended reality market will spend 54.7% on hardware in 2024 and revenues from Content Delivery Networks (CDN) will see US$13.9 billion increase by 2030.
The Extended Reality (XR) market spend will hit US$4.84 billion in 2024
In 2024, the Extended Reality (XR) market spend will hit US$4.84 billion, up from US$630 million in 2020; 54.7% will derive from hardware, and the rest will be from software and content.
Jake Saunders, Vice President at ABI Research explains, “A rich ecosystem is developing with notable innovators, such as Nreal, VIVE, and Pico, producing XR kits for consumers and businesses.”
Content Delivery Network (CDN) revenue will increase from US$10 billion in 2021 to US$23.9 billion in 2030
For all the hype the metaverse receives around virtual worlds and assets, it is the build-up to this interconnected future where the physical and digital are merged that deserves more attention. Trends across digital media and advertising, immersive, hybrid workforces, and evolutions in technology (i.e., 5G advanced and upcoming 6G) are all coming together to change how we consume content, work, access services, and communicate. “These changing markets, especially as they come together, will create tremendous demands on networks (i.e., data and ultra-low latency connections) and computational resources. One market that stands to benefit from this build-up to the metaverse is the CDN market,” says Michael Inouye, Principal Analyst at ABI Research.
“While there are still fundamental challenges ahead–political tumult, an entrenched endemic, and a broken supply chain–these statistics should provide insights and actionable data needed to chart a successful course in 2022 and beyond,” Carlaw concludes.
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