Japan: metaverse market size 2027

The metaverse market in Japan was estimated at 285.1 billion Japanese yen in fiscal year 2023. It was expected that the market, which in this case excludes services that exclusively focus on video games, will reach a value of more than two trillion yen by fiscal year 2027.

The metaverse concept

The concept of the metaverse has garnered increasing attention in recent years, not least because Facebook announced in October 2021 that it would change its company name to Meta Platforms to emphasize its commitment to this immersive technology. Although there are varying definitions, the word is frequently used today to refer to virtual spaces in which people interact with each other in the form of avatars, often facilitated by devices such as head-mounted displays (HMDs) for extended reality (XR) and 360-degree videos. Since the metaverse can act as an enhanced form of social media that brings people together and enables companies to connect more deeply with their customers, it may create valuable economic effects, such as boosting sales via e-commerce.

The metaverse and Japanese content producers

It is expected that the growth of the metaverse market will be impacted to a significant degree by the adoption of dedicated hardware and the ability of content creators to attract users. In the case of Japan, several gaming companies are actively pursuing metaverse projects, such as Bandai Namco, Square Enix, and GREE. Many others engage in related technologies, such as blockchain-utilized services, which enable the use of non-fungible tokens (NFTs) in virtual economies. Aside from game developers, there are companies from a number of different industries, such as music, streaming, and tourism, that provide content to metaverse platforms.

Sales value of the metaverse market in Japan from fiscal year 2021 to 2023 with a forecast until fiscal year 2027 (in billion Japanese yen)

Characteristic	Market size in billion Japanese yen
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Release date

September 2023

More information

Region

Japan

Survey time period

fiscal years 2021 to 2023; the Japanese fiscal year starts on April 1 of the stated year and ends on March 31 of the following year

Special properties

based on sales at businesses and sales prices of XR devices; excluding services that exclusively focus on games

Supplementary notes

*Prospect.
**Forecast.

Research objects were domestic businesses that provide metaverse-related technologies and services. The market size has been calculated by totaling the sales at businesses for metaverse platforms, those other than platforms (contents, infrastructure, etc.,) and by sales prices of XR (VR, AR, MR) devices used in metaverse services. While both enterprise and consumer metaverses are included, services dedicated to games are excluded.

100 Japanese yen equal 0.69 U.S. dollars or 0.63 euros as of September 2023.

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