France’s metaverse industry forecast to grow 31.5% in 2023

• France’s metaverse industry is projected to grow 31.5% YoY in 2023, hitting $6.7 billion.
• Meanwhile, the metaverse spend value will increase from $5.1 billion to $22.1 billion by 2030.
• The metaverse space in France is forecast to grow at a CAGR of 28.6% between 2023 and 2030.

A new research report into the metaverse market forecasts that the industry’s market in France will grow by 31.5% year over year and reach $6.7 billion by the end of 2023.

The details of the projection are contained in the France Metaverse Market Intelligence and Future Growth Dynamics 2021-2030 report shared in a press release on Monday. 

Metaverse industry in France to grow 28.6% from 2023-2030

Overall, the metaverse industry in France is expected to grow at a CAGR of 28.6% between 2023 and 2030, while the Metaverse Spend Value will jump from $5.1 billion in 2022 to $22.1 billion by 2030.

The report highlights the growth in metaverse related business and consumer investments in the country, stating that although there’s growing momentum, adoption rates are still low. However, with huge interest from across major brands – including luxury giant LVMH – there’s potential for a steady adoption curve.

As the French metaverse space heats up, leading industry-focused startups across the country are raising funds as they look to accelerate development. These include METAV.RS, a Paris-based metaverse startup that raised €3 million in October 2022