Global metaverse for automotive products has been forecasted to increase from $1.9 billion in 2022 to $16.5 billion in 2030, at a Compound Annual Growth Rate (CAGR) of 31.4%.
The projection was unveiled via an article hinting that the increase is caused by the use of metaverse technologies such as Non-fungible Tokens (NFTs) and crypto in the automotive industry.
Key players in the metaverse automotive industry include; WayRay in Switzerland and Meta Platforms Inc in the United States amongst others. Their primary responsibility is to create goods and give services tailored to the automotive metaverse space.
The metaverse technologies have made it quite easy for Original Equipment Manufacturers (OEMs) to display their products in the virtual space.
The idea of virtual showrooms, where businesses may display their products virtually without utilizing actual vehicles, has expanded quickly throughout the automotive…
