Market Insights Advertising & Media Metaverse

Metaverse eCommerce - Portugal

Portugal

The projected value of the Metaverse eCommerce market in 2024 is estimated to reach €41.5m, with an expected annual growth rate (CAGR 2024-2030) of 43.54%.
This growth is projected to result in a market volume of €362.7m by 2030.
It is worth noting that the majority of this value is generated China, with a projected market volume of €9.3bn in 2024.
In terms of user base, the number of users in the Metaverse eCommerce market is expected to reach 1.4m users by 2030.
User penetration, which is the percentage of the total population using the Metaverse eCommerce market platform, is projected to be 4.2% in 2024 and is expected to increase to 14.0% by 2030.
Furthermore, the average value per user (ARPU) is expected to amount to €96.5.
This metric represents the average value generated by each user in the Metaverse eCommerce market.
It is important to note that these projections and figures are specific to the Metaverse eCommerce market and do not represent the overall eCommerce market in Portugal.
Portugal's Metaverse eCommerce market is experiencing a surge in virtual fashion sales, with consumers embracing digital clothing customization and virtual try-on experiences.

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Analyst Opinion

The Metaverse eCommerce market in Portugal is experiencing significant growth and development. Customer preferences are shifting towards online shopping and virtual experiences, driving the demand for Metaverse eCommerce platforms.

This trend is influenced by several factors, including technological advancements, changing consumer behavior, and the unique characteristics of the Portuguese market. Customer preferences in Portugal are increasingly focused on convenience and personalized experiences. Online shopping has become more popular among Portuguese consumers, as it offers the convenience of browsing and purchasing products from the comfort of their own homes.

The Metaverse eCommerce market caters to these preferences by providing virtual shopping experiences that can be accessed anytime and anywhere. Customers can explore virtual stores, interact with products, and make purchases within the Metaverse, enhancing their overall shopping experience. Trends in the Metaverse eCommerce market in Portugal are driven by the growing popularity of virtual reality (VR) and augmented reality (AR) technologies.

These technologies enable immersive and interactive experiences, allowing customers to virtually try on clothing, test products, and visualize how items would look in their homes. The integration of VR and AR into Metaverse eCommerce platforms enhances the customer experience and increases engagement, leading to higher conversion rates and customer satisfaction. The Portuguese market also has some unique characteristics that contribute to the development of the Metaverse eCommerce market.

Portugal is known for its strong tourism industry, attracting millions of visitors each year. The integration of Metaverse eCommerce platforms with the tourism sector offers new opportunities for virtual tourism experiences. Tourists can explore virtual replicas of popular tourist destinations, engage in virtual tours, and even make virtual purchases of local products.

This integration enhances the overall tourism experience and provides additional revenue streams for businesses in the sector. Furthermore, the Portuguese government has been supportive of the digital economy and has implemented policies to promote technological innovation and entrepreneurship. This favorable business environment has attracted investment and encouraged the development of Metaverse eCommerce platforms in Portugal.

Startups and established companies alike are capitalizing on the growing demand for virtual experiences and online shopping, contributing to the expansion of the Metaverse eCommerce market. Underlying macroeconomic factors also play a role in the development of the Metaverse eCommerce market in Portugal. The COVID-19 pandemic has accelerated the digital transformation across industries, including retail.

As physical stores faced restrictions and consumers turned to online shopping, businesses had to adapt and explore new avenues for growth. The Metaverse eCommerce market emerged as a viable solution, offering a safe and engaging alternative to traditional retail. In conclusion, the Metaverse eCommerce market in Portugal is experiencing significant growth and development.

Customer preferences for convenience and personalized experiences, coupled with technological advancements and unique market characteristics, are driving the expansion of the market. The integration of VR and AR technologies, the tourism sector, supportive government policies, and the impact of the COVID-19 pandemic are all contributing factors to the growth of the Metaverse eCommerce market in Portugal.

Methodology

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

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.