III. Industry Analysis

• The global metaverse market size, estimated at $38.85 billion in 2021, is expected to expand at a CAGR of 39.4% from 2022 to 2030.
• According to a study, 37% of Americans believe life in the metaverse would be more fun than real life, 38% believe the metaverse makes their life better, 47% use it to socialize efficiently, and 48% do not feel overwhelmed about the multiverse, 40% understand the purpose of the metaverse, and 57% believe that the metaverse will be as popular as traditional social media platforms.
• Anticipated growth in market revenue in the near future can be attributed to the rising demand for metaverse platforms that employ blockchain technology for trading digital assets.
• The user interface service market is expected to generate a market value of $43.24 billion by 2030, growing at a CAGR of 10.6%.

• The metaverse market may be worth $800 billion by 2024 due to a surge in interest during the pandemic from $47 billion in 2020.
• The metaverse market size in 2022 was valued at $124.04 billion with a growth rate of 38.25% CAGR to a valuation of $1655.29 billion by 2030.
• The rising adoption of new technologies, like artificial intelligence (AI), mixed reality (MR), and blockchain, in the metaverse industry helps foster market growth.
• The COVID-19 pandemic played a significant role in stimulating interest in the metaverse concept.
• The user interface design software market information market size is expected to reach $1,496.2 million, growing at a CAGR of 9.8% by 2027.
• The global user interface (UI) design market is expected to grow from $3.5 billion in 2017 to $5.2 billion by 2030 at a CAGR of 7.6% during the forecast period.
• The UI industry will gain growth of 16% from 2017 to 2027 and is expected to reach $50 billion by 2027.
• Today every brand's face is judged by the ease and efficiency of its products, and UI helps in many ways by covering all the spectrums to make the product efficient.
• Factors such as the rise in demand for user-friendly and attractive user interfaces and large advancements in graphics processing & cloud computing boost the market size.