Metaverse for Automotive Market Size

Metaverse for Automotive Market size is assessed at USD 3.3 billion in 2024 and is poised to exceed USD 121.8 billion by the end of 2037, witnessing over 32% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of metaverse for automotive is estimated at USD 4.3 billion.

The metaverse for automotive market is forecast to expand owing to the ability of the metaverse to provide an immersive experience for consumers and car manufacturers alike. Virtual showrooms allow potential buyers to take a three-dimensional tour of models of vehicles, allowing personalization and enhanced engagement. This digital shift is driven especially, by rising consumer demand for personalized and interactive experiences, together with the continuous development of Artificial Intelligence (AI) and Augmented Reality (AR) technologies. For example, in January 2023, Metadome.ai signed a contract with MG Motor to introduce MGVerse-a realistic web-based metaverse with a 3D car configurator and virtual test drive capabilities. This development underlines the increasing magnitude of metaverse platforms in creating an immersive customer experience.

The metaverse for automotive industry is further supported by government initiatives, either through digitalization or AI-driven innovations. Most governments have continued to provide policies that encourage augmented and virtual reality in industries for the benefit of automotive manufacturing. Governments of the U.S. and Europe are granting grants and tax credits to speed up digital transformation, creating a favorable environment for automakers to experiment with technologies related to the metaverse. These efforts are likely to accelerate the pace of metaverse application adoptions, especially in electric vehicle production and virtual customer service.