Number of Metaverse Users in 2024

The multi-billion dollar metaverse market is set to explode.

For the most part, metaverse applications are focused on gaming, but several other industries are exploring possibilities.

With the user base expanding, we’ll take a look at how many metaverse users there are and other related statistics.

Contents

• Top Metaverse User Stats
• How Many Metaverse Users Are There in 2024?
• Metaverse Growth Projection
• Metaverse Familiarity and Reach
• Metaverse Users Demographics
• Feelings Towards the Metaverse
• Metaverse Concerns
• Metaverse Benefits

Top Metaverse User Stats (Editor’s Choice)

• There are roughly 400 million monthly metaverse users
• By 2030, there could be as many as 5 billion metaverse users
• Around 7 in 10 US adults are aware of the metaverse
• Men are almost 3x more likely to be interested in the metaverse than women
• 80% of metaverse users are under 16
• 33% of adults are curious about the metaverse

How Many Metaverse Users Are There in 2024?

According to metaverse consulting company Metaversed, there are approximately 400 million monthly metaverse users.

Source: Metaversed

Metaverse Growth Projections

The metaverse market is expected to explode over the coming years, growing at a CAGR of 47.2%.

The industry’s 2022 valuation of $61.8 billion is set to grow by around 7x in the space of just five years, reaching $426.9 billion by 2027.

With that, the number of metaverse users is also likely to rocket.

A 2022 Citi report claims that by 2030, there could be as many as 5 billion metaverse users (including the mobile phone user base) worldwide.

However, when using a more zeroed-in definition of the metaverse (VR/AR device user base), this figure is likely to be closer to 1 billion.

Sources: MarketsandMarkets, Citi

Metaverse Familiarity and Reach

As of January 2022, 69% of US adults had heard of the metaverse.

Yet, only 38% are at least somewhat familiar. And just 14% are very familiar.

Here’s the full breakdown of metaverse familiarity:

By 2026, it’s predicted that 1 in 4 people worldwide will spend upwards of one hour a day in the metaverse.

Activities are likely to include: 

• Work
• Shopping
• Education
• Social interaction
• Entertainment

In fact, a 2021 survey revealed that 66% of US adults believe that the metaverse can at least partially replace social media.

And nearly 1 in 4 of those surveyed (24%) think the metaverse will completely replace social media.

Sources: Ipsos, Gartner, MSN

Metaverse Users Demographics

Gender

According to 2022 research, men are considerably more interested in the metaverse than women.

Of those surveyed, 18% of men are very interested in the metaverse - 11% more than women.

Here’s a breakdown of metaverse interest by gender:

Age

In total, 4 in 5 metaverse users are under 16 years old. 

Millennials are the most likely generation to attend a live sporting event or live music event in the metaverse. In total, 41% of millennials are at least somewhat interested in a live metaverse sporting event. And 61% are somewhat interested in a metaverse live music event.

Here’s how generations compare in terms of live metaverse event interest:

Live Metaverse Sporting Event Interest

Live Metaverse Music Event Interest

Sources: Morning Consult, Metaversed, Morning Consult (2)

Feelings Towards the Metaverse

It’s fair to say that current metaverse perceptions are mixed. 

The top response in a recent survey indicated that 30% of US adults think the metaverse is “not as good as real life”.

While 26% believe the metaverse is “the future of technology”.

And 23% cynically think that the metaverse is merely a means for tech companies to make money.

Here’s the full rundown of metaverse views:

Feelings towards the metaverse are similarly mixed:

When it comes to metaverse adoption, the most important factor for many is lower-priced VR headsets. In fact, 50% of respondents claim that it is at least somewhat important to have lower-priced VR headsets available.

Other important considerations include larger amounts of content and family and friends using the metaverse.

Here’s how five key factors rank in terms of importance when deciding whether to use the metaverse:

Sources: Ipsos, Morning Consult

Metaverse Concerns

As alluded to above, internet users have several reservations about the metaverse.

For example, tracking and misuse of data is a concern for as many as 79% of people.

While online abuse and cyberbullying on the metaverse worries 7 in 10 internet users.

Below is a breakdown of metaverse concerns:

Some of these metaverse concerns are echoed in a 2021 survey. 

Almost half of all respondents (47%) expressed worries about addiction to a simulated reality. Privacy issues (41%) and mental health issues (41%) are also significant perceived threats.

Sources: Morning Consult, PC Magazine

Metaverse Benefits

Potential concerns notwithstanding, there are various reasons for joining the metaverse.

The most popular reason is for work possibilities (52%), followed by art and live entertainment (48%), and money investment (44%). 

Other popular reasons include:

• Education - 40%
• Online dating and socializing - 32%
• Gaming - 29%
• Adult entertainment - 18%

Evidently, there are many benefits to the metaverse, too.

Approximately 2 in 5 people (39%) agree that overcoming obstacles such as disabilities is the no.1 benefit of the metaverse.

Here are the top metaverse benefits:

Sources: PC Magazine, Tidio

Conclusion

Although the general public may not be totally on board with the metaverse just yet, the number of users speaks for itself.

This is undoubtedly a growing space with bags of potential.

If you enjoyed these metaverse-related stats, take a look at Top Technology Trends and Important Computer Science Trends.