The Impact of the Metaverse on Digital Advertising

The Impact of the Metaverse on Digital Advertising

The Metaverse is Reshaping Marketing Strategies and Offering Brands Revolutionary Ways to Engage with their Audiences

RELEASE DATE
15-Dec-2022
REGION
North America
Deliverable Type
Market Research
Research Code: K7CB-01-00-00-00
SKU: EM00346-GL-MR_27184
AvailableYesPDF Download
$2,450.00
In stock
SKU
EM00346-GL-MR_27184
$2,450.00
ENQUIRE NOW

Description

The metaverse as a concept can be complex to understand. Frost & Sullivan categorizes the metaverse as an interconnected network of persistent 3D worlds and simulations where end users, represented by virtual avatars, are enabled with a sense of social presence and spatial awareness and participate in an extensive virtual economy.

This study discusses growth opportunities for digital advertising in the metaverse as well as the different challenges and emerging trends related to the adoption of immersive experiences for marketing purposes.

As the metaverse is changing how users interact with brands and creating an abundance of innovative opportunities to advertise, a wide range of companies are developing metaverse strategies and deploying diverse use cases. Both the fashion and retail industries have been early adopters of the metaverse, primarily due to the existing synergies between the metaverse and their product portfolios. However, a growing number of other industries are starting to show increasing interest in advertising in 3D worlds.

Frost & Sullivan believes that the expected growth of the metaverse will impact the way enterprises establish their business priorities for the next decade. As some consumers gradually change their primary means of consumption and adopt new 3D worlds and leave aside traditional channels, such as TV or Internet browsers, companies will increase their efforts to build their brand presence in these evolving immersive worlds.

The metaverse is forging a new path for digital advertising. It unfolds a new wave of monetization opportunities not only for vendors interested in attracting new customers and boosting their sales but also for metaverse builders and tech companies that will enable the transition to immersive worlds as well as media, public relations, and marketing agencies that will vet the opportunities and develop innovative advertising strategies. Frost & Sullivan believes the metaverse has the potential to become the next-generation channel for advertising, communications, brand exposition, and customer engagement.

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Digital Advertising in the Metaverse

Growth Opportunities Fuel the Growth Pipeline Engine™

The Unparalleled Potential of the Metaverse

The Metaverse will Become the Next-generation Advertising Channel

How to Advertise in the Metaverse

Trend 1: Metaverse-based Games

Trend 2: NFT Collections

Trend 3: Metaverse Events and Activities

Growth Drivers

Growth Restraints

Examples of Innovative Use Cases from Early Adopters: Nike & Gucci

Examples of Innovative Use Cases from Early Adopters: Hyundai & Vans

Aspects to Consider to Successfully Incorporate the Metaverse in an Advertising Plan

Key Participants Providing Services for Advertising in the Metaverse

Key Participants Providing Services for Advertising in the Metaverse (continued)

Key Participants Providing Services for Advertising in the Metaverse (continued)

Key Participants Providing Services for Advertising in the Metaverse (continued)

Key Participants Providing Services for Advertising in the Metaverse (continued)

Key Takeaways

Growth Opportunities

Growth Opportunity 1: Partnerships with Influencers and Content Creators

Growth Opportunity 1: Partnerships with Influencers and Content Creators (continued)

Growth Opportunity 2: Metaverse Games with NFT Rewards

Growth Opportunity 2: Metaverse Games with NFT Rewards (continued)

Growth Opportunity 3: Metaverse-native Companies

Growth Opportunity 3: Metaverse-native Companies (continued)

Growth Opportunity 4: Virtual Real Estate Acquisition

Growth Opportunity 4: Virtual Real Estate Acquisition (continued)

Growth Opportunity 5: Wearables for Metaverse Avatars

Growth Opportunity 5: Wearables for Metaverse Avatars (continued)

Growth Opportunity 6: AR and VR Integration

Growth Opportunity 6: AR and VR Integration (continued)

List of Exhibits

Legal Disclaimer

The metaverse as a concept can be complex to understand. Frost & Sullivan categorizes the metaverse as an interconnected network of persistent 3D worlds and simulations where end users, represented by virtual avatars, are enabled with a sense of social presence and spatial awareness and participate in an extensive virtual economy. This study discusses growth opportunities for digital advertising in the metaverse as well as the different challenges and emerging trends related to the adoption of immersive experiences for marketing purposes. As the metaverse is changing how users interact with brands and creating an abundance of innovative opportunities to advertise, a wide range of companies are developing metaverse strategies and deploying diverse use cases. Both the fashion and retail industries have been early adopters of the metaverse, primarily due to the existing synergies between the metaverse and their product portfolios. However, a growing number of other industries are starting to show increasing interest in advertising in 3D worlds. Frost & Sullivan believes that the expected growth of the metaverse will impact the way enterprises establish their business priorities for the next decade. As some consumers gradually change their primary means of consumption and adopt new 3D worlds and leave aside traditional channels, such as TV or Internet browsers, companies will increase their efforts to build their brand presence in these evolving immersive worlds. The metaverse is forging a new path for digital advertising. It unfolds a new wave of monetization opportunities not only for vendors interested in attracting new customers and boosting their sales but also for metaverse builders and tech companies that will enable the transition to immersive worlds as well as media, public relations, and marketing agencies that will vet the opportunities and develop innovative advertising strategies. Frost & Sullivan believes the metaverse has the potential to become the next-generation channel for advertising, communications, brand exposition, and customer engagement.
More Information
Deliverable Type Market Research
Author Lara Forlino
Industries Entertainment and Media
No Index No
Is Prebook No
Keyword 1 Metaverse Digital Marketing
Keyword 2 Marketing in the Metaverse
Keyword 3 Advertising in the Metaverse
Podcast No
WIP Number K7CB-01-00-00-00