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    India Metaverse Market

    ID: MRFR/ICT/19893-HCR
    128 Pages
    Shubham Munde
    October 2025

    India Metaverse Market Research Report: Information By Component (Hardware, Software And Service), By Technology (Blockchain, Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR), Others), By Application (Gaming, Online Shopping, Content Creation & Social Media, Events & Conferences And Digital Marketing), By End-Use (BFSI, Retail Media & Entertainment, Education, Aerospace & Defense, Automotive And Others) – India Market Forecast Till 2035.

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    India Metaverse Market Infographic
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    India Metaverse Market Summary

    As per MRFR analysis, the metaverse market Size was estimated at 1040.88 USD Million in 2024. The metaverse market is projected to grow from 1511.87 USD Million in 2025 to 63195.31 USD Million by 2035, exhibiting a compound annual growth rate (CAGR) of 45.25% during the forecast period 2025 - 2035.

    Key Market Trends & Highlights

    The India metaverse market is poised for substantial growth driven by technological advancements and evolving consumer preferences.

    • The largest segment in the India metaverse market is virtual commerce, which is experiencing rapid expansion.
    • User experience and accessibility are becoming focal points as companies strive to enhance engagement in the metaverse.
    • The fastest-growing segment is immersive experiences, reflecting a shift towards more interactive digital environments.
    • Key market drivers include rising demand for immersive experiences and advancements in connectivity infrastructure.

    Market Size & Forecast

    2024 Market Size 1040.88 (USD Million)
    2035 Market Size 63195.31 (USD Million)

    Major Players

    Meta Platforms (US), Microsoft (US), NVIDIA (US), Epic Games (US), Roblox Corporation (US), Unity Technologies (US), Decentraland (US), Sandbox (FR), Tencent (CN), Alibaba Group (CN)

    India Metaverse Market Trends

    The metaverse market in India is currently experiencing a transformative phase, characterized by rapid technological advancements and increasing consumer engagement. The integration of augmented reality (AR) and virtual reality (VR) technologies is reshaping how individuals interact with digital environments. This evolution is not merely a trend but appears to be a fundamental shift in digital interaction, driven by a growing demand for immersive experiences across various sectors, including entertainment, education, and retail. Furthermore, the rise of blockchain technology is likely to enhance security and ownership within virtual spaces, fostering trust among users. As a result, businesses are increasingly exploring opportunities within this dynamic landscape, indicating a robust potential for growth. In addition, the Indian government is actively promoting initiatives aimed at fostering innovation in the digital space, which may further accelerate the development of the metaverse market. Policies encouraging investment in technology and digital infrastructure are likely to create a conducive environment for startups and established companies alike. This supportive framework, combined with a youthful population eager to embrace new technologies, suggests that the metaverse market in India is poised for significant expansion in the coming years. The convergence of these factors indicates a vibrant ecosystem that could redefine how digital interactions are perceived and experienced.

    Increased Investment in Technology

    There is a noticeable surge in investment directed towards the development of metaverse technologies. Companies are allocating resources to enhance AR and VR capabilities, which may lead to more sophisticated and engaging user experiences. This trend suggests a commitment to innovation and a recognition of the metaverse's potential impact on various industries.

    Expansion of Virtual Commerce

    The metaverse market is witnessing a growing trend in virtual commerce, where businesses are establishing virtual storefronts. This shift allows consumers to engage in shopping experiences that blend the physical and digital realms. Such developments indicate a transformation in consumer behavior and preferences.

    Focus on User Experience and Accessibility

    There is an increasing emphasis on creating user-friendly interfaces and ensuring accessibility within the metaverse market. Companies are striving to make virtual environments more inclusive, which may enhance user engagement and satisfaction. This focus on experience suggests a strategic approach to attracting a broader audience.

    India Metaverse Market Drivers

    Emergence of New Business Models

    The metaverse market in India is witnessing the emergence of new business models that capitalize on virtual interactions. Companies are exploring subscription-based services, virtual real estate, and digital asset sales, which are reshaping traditional revenue streams. This shift is indicative of a broader trend where businesses are leveraging the metaverse to create unique value propositions. The metaverse market is likely to see a rise in innovative startups that focus on these models, potentially leading to a 40% increase in market participants by 2026. As these new business paradigms take shape, they could redefine consumer engagement and interaction within virtual spaces.

    Increased Focus on Digital Commerce

    The metaverse market in India is experiencing a transformation driven by the increased focus on digital commerce. As more consumers turn to online shopping, businesses are exploring virtual storefronts and immersive shopping experiences. This shift is evidenced by a projected growth of 25% in the virtual retail sector by 2025. The metaverse market is adapting to this trend by integrating e-commerce functionalities within virtual environments, allowing users to browse and purchase products in a more engaging manner. This evolution not only enhances the shopping experience but also opens new revenue streams for businesses, making it a pivotal driver of growth in the sector.

    Rising Demand for Immersive Experiences

    The metaverse market in India is witnessing a notable surge in demand for immersive experiences. As consumers increasingly seek engaging and interactive environments, businesses are compelled to adapt their offerings. This shift is reflected in the growing investment in virtual reality (VR) and augmented reality (AR) technologies, which are projected to reach a market value of approximately $10 billion by 2026. The metaverse market is thus evolving to meet these expectations, with companies exploring innovative ways to enhance user engagement through immersive storytelling and interactive content. This trend is likely to drive further growth in the sector, as more users embrace the potential of virtual environments for entertainment, education, and social interaction.

    Advancements in Connectivity Infrastructure

    The metaverse market in India is significantly influenced by advancements in connectivity infrastructure. With the rollout of 5G technology, users are experiencing faster internet speeds and lower latency, which are crucial for seamless interactions in virtual environments. This technological enhancement is expected to boost user engagement and participation in the metaverse market. Reports indicate that 5G adoption could lead to a 30% increase in the number of active users in virtual spaces by 2027. As connectivity improves, businesses are likely to invest more in developing applications and platforms that leverage these capabilities, thereby expanding the reach and functionality of the metaverse.

    Growing Interest in Virtual Events and Gatherings

    The metaverse market in India is increasingly characterized by a growing interest in virtual events and gatherings. As organizations and individuals seek new ways to connect, virtual conferences, concerts, and social events are gaining traction. This trend is supported by a projected increase of 50% in virtual event participation by 2025. The metaverse market is responding by developing platforms that facilitate these experiences, allowing for greater accessibility and inclusivity. This shift not only enhances social interaction but also provides businesses with new opportunities for marketing and engagement, thereby driving further growth in the sector.

    Market Segment Insights

    Metaverse Component Insights

    The India Metaverse Market segmentation, based on Components, includes Hardware, Software, and Service. The software segment is expected to grow significantly throughout the projected period. Virtual platforms are the creation and management of integrated virtual and often three-dimensional simulations, settings, and environments in which people and enterprises can discover, create, socialize, and engage in a wide range of activities while still conducting business. Popular virtual platforms include Minecraft, Roblox, the Sandbox, HyperVerse, and Fortnite Creative Mode.

    Figure 2: India Metaverse Market, By Component, 2023 & 2032 (USD Billion)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Metaverse Technology Insights

    The India Metaverse Market segmentation, based on Technology, includes Blockchain, Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR), and Others. The VR and AR segment dominated the market in 2023. VR and AR deliver a greater level of user experience in sectors such as gaming, which has increased income for the segment. It also improves peer-to-peer interaction both within and between applications. The mixed reality market is predicted to develop the fastest throughout the projection period because of its superior performance and improved user connectivity and experience qualities.

    Metaverse Application Insights

    The India Metaverse Market segmentation, based on Application, includes Gaming, Online Shopping, Content Creation & Social Media, Events & Conferences and Digital Marketing. In 2023, the gaming industry will be the largest application area for the metaverse market. This is owing to consumers' increased use of AR-VR games, which give a more immersive gaming experience. The social media segment is predicted to experience the fastest market growth during the forecast period. This is due to the growing number of content creators and the necessity for social media firms to strengthen their social connections and user experience.

    Metaverse End-Use Insights

    Based on End-Use, the India Metaverse Market segmentation includes BFSI, Retail Media & Entertainment, Education, Aerospace & Defense, Automotive and Others. The BFSI industry is expected to generate the most income in 2023. However, the media and entertainment business is predicted to grow at a CAGR of 43.5% throughout the forecast period, mainly due to the global rise of the gaming industry. Businesses are increasingly focusing on hosting virtual music performances, and as more businesses adopt this concept, the revenue growth in this area is expected to accelerate.

    India Metaverse Country Insights

    The India metaverse market is expanding rapidly and has enormous potential. With the growing popularity of virtual reality (VR) and augmented reality (AR) technology, there is a surge in demand for immersive digital experiences. The Indian metaverse market includes a wide range of industries like gaming, entertainment, education, and healthcare. Companies are actively looking for new ways to develop interactive and compelling metaverse platforms and content.

    Get more detailed insights about India Metaverse Market

    Key Players and Competitive Insights

    The metaverse market exhibits a dynamic competitive landscape, characterized by rapid technological advancements and a growing interest from both consumers and enterprises. Key players such as Meta Platforms (US), Microsoft (US), and NVIDIA (US) are at the forefront, each adopting distinct strategies to enhance their market presence. Meta Platforms (US) continues to focus on immersive social experiences, leveraging its vast user base to drive engagement within its metaverse ecosystem. Meanwhile, Microsoft (US) emphasizes enterprise solutions, integrating its cloud services with metaverse applications to facilitate remote collaboration and productivity. NVIDIA (US) positions itself as a leader in graphics processing, providing the necessary hardware and software tools that empower developers to create high-quality virtual environments. Collectively, these strategies contribute to a competitive environment that is increasingly centered around innovation and user experience.

    The business tactics employed by these companies reflect a nuanced understanding of local market demands and technological capabilities. For instance, localizing content and optimizing supply chains are critical for addressing the diverse needs of Indian consumers. The market structure appears moderately fragmented, with a mix of established players and emerging startups vying for market share. This fragmentation allows for a variety of offerings, yet the influence of major players remains substantial, shaping industry standards and consumer expectations.

    In October 2025, Meta Platforms (US) announced a partnership with a leading Indian telecommunications provider to enhance connectivity for its metaverse applications. This strategic move is likely to facilitate broader access to high-speed internet, thereby expanding the user base and enhancing the overall experience within its virtual environments. Such partnerships are pivotal in ensuring that technological barriers do not hinder user engagement in the metaverse.

    In September 2025, Microsoft (US) launched a new suite of tools designed specifically for the Indian market, aimed at integrating augmented reality (AR) into educational platforms. This initiative underscores Microsoft's commitment to leveraging the metaverse for educational purposes, potentially transforming how learning is delivered in India. By focusing on localized solutions, Microsoft is likely to strengthen its foothold in the region and foster long-term relationships with educational institutions.

    In August 2025, NVIDIA (US) unveiled a new graphics processing unit (GPU) tailored for metaverse applications, which is expected to significantly enhance rendering capabilities for developers. This innovation not only positions NVIDIA as a technological leader but also addresses the growing demand for high-quality graphics in virtual environments. The introduction of such advanced hardware could catalyze further development within the metaverse, attracting more developers and users alike.

    As of November 2025, current trends in the metaverse market indicate a strong emphasis on digitalization, sustainability, and the integration of artificial intelligence (AI). Strategic alliances are increasingly shaping the competitive landscape, as companies recognize the value of collaboration in driving innovation. Looking ahead, competitive differentiation is likely to evolve, with a shift from price-based competition to a focus on technological innovation and supply chain reliability. This transition may redefine how companies engage with consumers, emphasizing quality and user experience over mere cost considerations.

    Key Companies in the India Metaverse Market market include

    Industry Developments

    In June 2024, HSBC Holding plc plans to utilize the metaverse so as to source businesses from India’s wealthy diaspora.

    In May 2024, the metaverse platform of ZF Group was launched in India for the purpose of recruiting and engaging employees. The ZF Employer Branding Metaverse is rich and engaging, enabling potential job seekers and employees to view and interact with the products, explore career opportunities and participate in events in a virtual setting.

    In March 2024, a US-based technology company Meta expanded its partnered with LG Electronics in order to develop LG's XR business. LG Electronics intends to leverage its strengths in content, products, services, and applications to enhance customer experience in the metaverse. This partnership allows LG Electronics to use Meta's technology with its own to upgrade XR devices and increase customer connectivity, enhancing customer experience in the metaverse and the overall virtual space.

    In February 2024, The Walt Disney Company, which is an American global mass media conglomerate, partnered with Epic Games Inc., a move that saw Disney pour $1.5 billion to obtain a substantial stake in Epic Games. Disney intends to build a wide range of games and entertainment related to Fortnite. This collaboration aims at bringing popular Disney narratives and characters into the world of Fortnite, enhancing it with Unreal Engine to provide an unforgettable metaverse for gamers and enthusiasts.

    In April 2024, Tanishq placed its new bridal line, ‘Romance of Polki’, in the 3D display areas on the metaverse, which showcased key items from the said collection and launched its wedding collection.

    In April 2022, Ceat Limited, which is one of the largest tire companies in the Indian market, is developing its own Ceat Shoppe within the metaverse. The metaverse has additional e-commerce capabilities. Consumers and potential customers will have the opportunity to see 3D models of goods and make such orders in real-time.

     

    Future Outlook

    India Metaverse Market Future Outlook

    The metaverse market in India is projected to grow at a remarkable 45.25% CAGR from 2024 to 2035, driven by technological advancements, increased investment, and consumer engagement.

    New opportunities lie in:

    • Development of immersive training platforms for enterprises
    • Creation of virtual real estate marketplaces
    • Integration of blockchain for secure digital transactions

    By 2035, the metaverse market is expected to be a pivotal sector in India's digital economy.

    Market Segmentation

    India Metaverse Market End User Outlook

    • Consumers
    • Enterprises

    India Metaverse Market Platform Type Outlook

    • Desktop/Laptops
    • Mobile
    • Wearables

    India Metaverse Market Component Type Outlook

    • Hardware
    • Software

    India Metaverse Market Technology Type Outlook

    • Blockchain
    • VR & AR
    • Mixed Reality
    • Others

    India Metaverse Market Application Type Outlook

    • Gaming
    • Online Shopping
    • Content Creation
    • Social Media
    • Others

    Report Scope

    MARKET SIZE 20241040.88(USD Million)
    MARKET SIZE 20251511.87(USD Million)
    MARKET SIZE 203563195.31(USD Million)
    COMPOUND ANNUAL GROWTH RATE (CAGR)45.25% (2024 - 2035)
    REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR2024
    Market Forecast Period2025 - 2035
    Historical Data2019 - 2024
    Market Forecast UnitsUSD Million
    Key Companies Profiled["Meta Platforms (US)", "Microsoft (US)", "NVIDIA (US)", "Epic Games (US)", "Roblox Corporation (US)", "Unity Technologies (US)", "Decentraland (US)", "Sandbox (FR)", "Tencent (CN)", "Alibaba Group (CN)"]
    Segments CoveredComponent Type, Platform Type, Technology Type, Application Type, End User
    Key Market OpportunitiesIntegration of immersive technologies enhances user engagement in the metaverse market.
    Key Market DynamicsRapid technological advancements and evolving consumer preferences drive growth in the metaverse market.
    Countries CoveredIndia

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    FAQs

    How much is the Metaverse Market?

    The India Metaverse Market size was valued at USD 6.59 Billion in 2024.

    What is the growth rate of the Metaverse Market?

    The market is projected to grow at a CAGR of 38.20% during the forecast period, 2025-2034.

    Who are the key players in the Metaverse Market?

    The key players in the market are Meta, Roblox, Epic Games, Decentraland, Sandbox, Tech Mahindra and others.

    Which Technology led the Metaverse Market?

    The VR and AR category dominated the market in 2023.

    Which application had the largest market share in the Metaverse Market?

    The gaming industry had the largest share of the market.

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