Market Insights Advertising & Media Metaverse

Metaverse Advertising - New Zealand

New Zealand

The projected value of the Metaverse Advertising market in New Zealand is expected to reach €5.7m by 2024.
Furthermore, it is anticipated to exhibit a compound annual growth rate (CAGR 2024-2030) of 27.12%, which would lead to a projected market volume of €23.9m by 2030.
Comparatively, United States is the primary generator of value in this market segment, with a projected market volume of €558.4m in 2024.
New Zealand's Metaverse advertising market is booming, driven by the country's tech-savvy population and strong creative industry.

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Analyst Opinion

The Metaverse Advertising market in New Zealand is experiencing significant growth and development.

Customer preferences: Customers in New Zealand are increasingly embracing the concept of the metaverse and are actively engaging with metaverse platforms. They are attracted to the immersive and interactive nature of the metaverse, which allows them to explore virtual worlds, interact with other users, and participate in various activities. Customers are also drawn to the personalized and targeted advertising opportunities offered by the metaverse, as it allows them to receive relevant and tailored advertisements based on their interests and preferences. Additionally, customers appreciate the convenience and accessibility of metaverse advertising, as they can easily access and engage with advertisements from the comfort of their own homes.

Trends in the market: One of the key trends in the Metaverse Advertising market in New Zealand is the increasing adoption of virtual reality (VR) and augmented reality (AR) technologies. This trend is driven by the growing availability of VR and AR devices, as well as the development of immersive and realistic virtual experiences. As a result, advertisers are leveraging these technologies to create engaging and interactive advertisements that capture the attention of customers in the metaverse. Another trend is the rise of influencer marketing within the metaverse. Influencers are individuals who have established a large and engaged following within the metaverse and are seen as trusted sources of information and recommendations. Advertisers are partnering with influencers to promote their products and services, leveraging their influence and reach to connect with potential customers.

Local special circumstances: New Zealand has a tech-savvy population that embraces new technologies and innovations. The country has a strong digital infrastructure, which supports the growth of the metaverse and enables seamless connectivity and interaction. Moreover, New Zealand has a vibrant gaming and creative industry, which provides a solid foundation for the development of the metaverse and metaverse advertising. The country also has a high level of internet penetration and mobile device usage, which further fuels the adoption of metaverse platforms and advertising.

Underlying macroeconomic factors: The growth of the Metaverse Advertising market in New Zealand is also influenced by underlying macroeconomic factors. The country has a stable and growing economy, which provides a favorable environment for businesses to invest in metaverse advertising. Additionally, New Zealand has a strong tourism industry, which attracts a large number of international visitors. Metaverse advertising presents an opportunity for businesses to target these visitors and promote their products and services. Furthermore, the government of New Zealand is supportive of technological advancements and innovation, which encourages the development and adoption of metaverse advertising in the country.

Methodology

Data coverage:

Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.