2022
9
US Digital Trends: Spotlight on the Metaverse Market Report 2022
2022-03-29T10:23:35+00:00
REP6C1825C9_98A6_4A78_B09B_3830ADD122F5
3695
149939
[{"name":"Digital","url":"https:\/\/store.mintel.com\/industries\/technology\/digital"},{"name":"Technology","url":"https:\/\/store.mintel.com\/industries\/technology"}]
Report
en_GB
“Two years on from the beginning of the pandemic, there is a simultaneous increase of both clarity and uncertainty. Consumer behavior is returning more to pre-pandemic levels as restrictions loosen…

US Digital Trends: Spotlight on the Metaverse Market Report 2022

Market Intelligence Reports - What's Included
  • Interactive Databook
  • Multiple Report Formats
  • Access to Clients Portal
  • Custom Presentation Tool

“Two years on from the beginning of the pandemic, there is a simultaneous increase of both clarity and uncertainty. Consumer behavior is returning more to pre-pandemic levels as restrictions loosen and mobility increases; but at the same time, the metaverse is creating questions about what the future of the internet will look like.
The tech industry is healthy and stable, and consumer demand will be the ultimate determinant of which innovations succeed and which ones will fade.”
– Scott Stewart, Associate Director – Mintel Reports, North America

Key issues covered in this Report

  • Metaverse awareness, knowledge and attitudes
  • Household tech ownership, purchases since the start of the pandemic and future purchase intent
  • Tech hardware and services sector market value indicators and forecast
  • Motivations for home electronics purchases
  • The importance of brand names, in-person shopping and the prevalence of stock shortages
Collapse All
  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Definition
    • Market context
    • COVID-19: US context
    • Economic and other assumptions
  2. Executive Summary

    • Top takeaways
    • Market overview
      • Figure 1: Technology hardware and digital communication services outlook, 2022-27
    • Opportunities
    • The metaverse is a new world of opportunities, but should be approached cautiously
    • The pandemic has proven tech hardware’s ongoing relevance
    • Young families represent an opportunity for targeted marketing
    • Challenges
    • A turning point for pandemic-relevant tech
    • Supply shortages are a risk to brand loyalty
  3. Market Size and Forecast

    • Growth will continue but slow from pandemic peak
      • Figure 2: Total US consumer expenditures and fan chart forecast for technology hardware and communications services, at current prices, 2016-26
      • Figure 3: Total US consumer expenditures and forecast for technology hardware and communications services, at current prices, 2016-26
  4. Segment Performance

    • Hardware spending surpasses communications services
      • Figure 4: Total US consumer expenditures and forecast for technology hardware and communications services, at current prices, by segment, 2016-26
    • Tech hardware will continue to grow
      • Figure 5: Total US consumer expenditures and fan chart forecast for technology hardware, at current prices, 2016-26
    • Communications services will see more modest growth
      • Figure 6: Total US consumer expenditures and fan chart forecast for communication services, at current prices, 2016-26
  5. Market Factors

    • Government decisions will have short- and long-term impacts on the market
    • Stimulus support for Americans affected their ability to spend on tech
      • Figure 7: Personal income from government social benefits, monthly adjusted, 2019-2022
      • Figure 8: Personal income, monthly adjusted, 2019-2022
    • Domestic computer chip legislation will bolster supply in the future
    • Macro economic indicators show stability but some uncertainty
    • Sustainability will become an increasing concern in tech hardware
  6. Market Share/Key Players

    • Common themes among leading tech companies
      • Figure 9: Market capitalization of key tech companies, 2022
  7. Competitive Strategies

    • How companies are approaching the metaverse
    • Meta makes a big bet
    • Microsoft is previewing its Mesh platform
      • Figure 10: Introducing Microsoft Mesh, 2021
    • Google and Apple are quietly planning for the metaverse
    • Leading brands have been susceptible to supply shortages
    • Amazon Astro brings home robotics to the mainstream market
      • Figure 11: Introducing Amazon Astro – Household Robot for Home Monitoring, with Alexa, 2021
  8. Market Opportunities

    • The metaverse is on trend, but will need to prove its usefulness
    • An opportunity for brands to make a statement
  9. Digital Trends: Fast Facts

    • The metaverse is still a new concept for most consumers
    • The metaverse is futuristic, but not yet useful
    • VR and connected fitness purchases were sparked by the pandemic
    • That momentum is slowing, though
    • Consumers are noticing supply shortages
    • Shortages are a risk to loyalty
    • But brand trust remains invaluable
    • In-store shopping is still an important tech experience
  10. The Metaverse: Consumer Knowledge and Interests

    • Few Americans know much about the metaverse
      • Figure 12: Metaverse awareness and knowledge, by gender and age, 2022
      • Figure 13: Metaverse awareness and knowledge, by social media platform – Daily users, 2022
    • Consumers associate more positives than negatives with the metaverse
      • Figure 14: Metaverse associations, 2022
    • Socializing, gaming and virtual experiences are of interest to consumers
      • Figure 15: Metaverse activities of interest, 2022
  11. Attitudes Toward the Metaverse

    • Consumers are not sold on the metaverse but see specific applications
      • Figure 16: Attitudes toward the metaverse – Positive, 2022
    • Worry is more prevalent than wonder
      • Figure 17: Attitudes toward the metaverse – Negative, 2022
    • Half predict people will eventually spend most of their time in the metaverse
      • Figure 18: Attitudes toward the metaverse – Predictions, 2022
    • How to make the metaverse resonate with consumers
      • Figure 19: Attitudes toward the metaverse – Interests, 2022
  12. Household Electronics Ownership

    • Connected computers are the bedrock of home electronics
      • Figure 20: Household electronics ownership, 2021
      • Figure 21: Made by Google Instagram post, 2022
    • Emerging tech is still awaiting its tipping point into mainstream
    • Ownership is higher among young parents
      • Figure 22: Household electronics ownership – VR headsets and connected home fitness machines, by age and parental status, 2021
    • 25-54 year olds are the “sweet spot” for smart home devices
      • Figure 23: Household electronics ownership – Smart speakers and smart lights, by age, 2021
  13. Household Electronics Purchases since COVID-19

    • Pandemic purchases were more valuable for certain categories
      • Figure 24: Household electronics purchases since COVID-19, 2021
      • Figure 25: Household electronics purchases since COVID-19, 2021
    • Parents have made the most purchases during the pandemic
      • Figure 26: Household electronics purchases since COVID-19, by age and parental status, 2021
  14. Reasons for Home Electronics Purchases

    • Home comfort and entertainment drive household tech purchases
      • Figure 27: Reasons for home electronics purchases since the beginning of the pandemic, 2021
    • Higher-income household more likely to make purchases for work
      • Figure 28: Reasons for home electronics purchases – To help with my work, by work commute, 2021
      • Figure 29: Reasons for home electronics purchases, by household income, 2021
    • VR and connected fitness machines benefited from discretionary spending
      • Figure 30: Reasons for home electronics purchases, by household electronics purchased since COVID-19, 2021
    • Younger men value the role of technology in the home experience
      • Figure 31: Reasons for home electronics purchases – Home comfort, by gender and age, 2021
  15. Home Electronics Purchasing

    • Purchase intent gives perspective on future tech trends
      • Figure 32: Home electronics purchasing plans, 2021
    • Young parents have the highest demand levels
      • Figure 33: Home electronics purchasing plans, by parental status and age, 2021
    • Supply shortages remain an issue
      • Figure 34: Home electronics shopping experience, 2021
  16. Household Device Usage

    • Positioning household devices as helpful investments
      • Figure 35: Household device usage, 2021
    • Increasing connected home fitness machine and VR headset value with shared usage
    • Younger men are more likely to have exclusive TV and gaming use
      • Figure 36: Household device usage – Ultra-HD TVs and video game consoles, by gender and age, 2021
  17. Attitudes Toward Electronics and Technology

    • Tech branding is valuable to consumers, but not irreplaceable
      • Figure 37: Attitudes toward electronics and technology – Branding, 2021
    • Durability in tech is a big concern among consumers
      • Figure 38: Attitudes toward electronics and technology – Durability and warranties, 2021
    • Understanding the tech shopping experience
    • The in-person experience is important to tech shoppers
      • Figure 39: Attitudes toward electronics and technology – Purchasing preferences, 2021
    • Trust in the shopping process is a major concern
      • Figure 40: Attitudes toward electronics and technology – New technology, 2021
    • Using social media to target early adopters
      • Figure 41: Attitudes toward electronics and technology – New technology, by daily usage of platforms, 2021
  18. Appendix – Data Sources and Abbreviations

    • Data sources
    • Sales data
    • Forecast
    • Consumer survey data
    • Mintel Trend Drivers
    • Abbreviations and terms
    • Abbreviations
    • Terms
  19. Appendix – The Market

      • Figure 42: Total US consumer expenditures and forecast for technology hardware and communications services, at inflation-adjusted prices, 2016-26
      • Figure 43: Total US consumer expenditures and forecast for technology hardware and communications services, by segment, at current prices, 2016-26
      • Figure 44: Total US consumer expenditures and forecast for technology hardware, at inflation-adjusted prices, 2016-26
      • Figure 45: Total US consumer expenditures and forecast for communications services, at inflation-adjusted prices, 2016-26

Why Choose Mintel?

Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.

Access high-quality market research with every purchase of Mintel’s consumer reports. Here’s what else is included in your report purchase:

  • Multiple Report Formats: Mintel’s reports are available in PDF and PPT formats, and are delivered straight to your inbox, so you can easily share Mintel’s market intelligence.
  • Access to Mintel’s Clients Portal: After your purchase is completed, you’ll receive an invitation to join Mintel’s Clients Portal, providing instant access to supplementary insights from Mintel’s industry experts.
  • Interactive Databook: Mintel’s bespoke consumer data is presented as an interactive website, so you can deep dive into your chosen topic, explore demographics and download specific statistics.
  • Custom Presentation Tool: Easily incorporate selected research data and analysis into a tailor-made presentation to win over clients and stakeholders.

Below is a generic PDF sample report. Understand what you are buying.

Please Note: All of the figures, graphs, and tables in this sample report have been redacted.
£ 3,695 (Excl.Tax)
  • Instant access when you pay by credit card
  • Add multiple reports to your cart to receive a discount
Add to cart

Is this report right for you?

From consumer reports to customised growth strategies. We have an option to suit your business requirements.

Find out more

Popular Related Reports

US Mobile Network Providers Market Report 2025

£ 3,695

The US mobile network landscape is entering a critical phase, with 5G nearly established as a commodity and industry consolidation leading to increasingly uniform plan offerings. Combined with...

Find out more

US Tech in Retail Report 2025

£ 3,695

Brands and retailers are increasingly leveraging technology to improve consumer experiences, increase operational efficiency, and boost profitability. While technology is the backbone of retail, consumers are not always...

Find out more

US Tech Trends 2025: AR/VR

£ 3,695

While AR and VR work to gain traction in gaming, their widespread adoption depends on expanding into practical, everyday uses beyond entertainment. Current headsets remain bulky, limiting appeal...

Find out more

US Smartphones Market Report 2025

£ 3,695

Smartphones have become a vital part of daily life for Americans, serving as tools for communication, work, and entertainment. With 87% of consumers always keeping their devices nearby,...

Find out more

US Home ISPs and Bundled Services Market Report 2025

£ 3,695

The US home internet market is largely shaped by cable and fiber optic connections, which remain popular for their reliability and accessibility. However, rural consumers often face significant...

Find out more

US Handheld Gaming Devices Market Report 2025

£ 3,695

37% of US adults who play video games owned a Nintendo Switch, making it the most popular handheld device on the market currently. Interest in handheld gaming remains...

Find out more

Trusted by global industry leaders

Tenth Wave logo

Mintel helps us when we want to know something quickly – it provides fast answers to our questions. If we need to get a view of what’s going on in a particular market it’s very useful.

When carrying out background research, I find Mintel an excellent starting point.

The fact that it covers so many markets is a big plus for me– instead of having to buy specialist products in each area we are interested in, especially when we only require a brief view on a particular market, we can go to Mintel for help as a one-stop shop. I find Mintel a useful and valuable resource.

Ben Zeidler, Director - Research and Analytics, Tenth Wave
Abacus logo

There is no question that Mintel is the go-to resource for the best quality market research, but I did not think it was an affordable option for Abacus Marketing to consider. As a small marketing agency, we only work with a few new clients each year.

However, we have a very high-end consultative approach to our work, so we really do need a partner like Mintel to provide the big agency experience we are always aiming to deliver. Our clients come from an incredibly diverse range of industry sectors, so we obviously need access to market research reports from a very wide spectrum of marketplaces – and that is precisely what we got.

Stephen Taylor-Brown, Managing Director, Abacus
Wincanton logo

When I’m investigating specific sectors I tend to use Mintel reports for their forecasting, which I’ve always found to be very accurate.

They also offer really broad and deep coverage in their reports. They are very, very detailed. For example, we were able to gain insight across a wide range of business areas from just one report, proving that Mintel is excellent value for money.

So overall, it’s the level of detail and the quality of forecasting that really stand out for me.

Rebecca Green, Market Insight Manager, Wincanton
Epsilon logo

We utilize Mintel Reports, Trends and Comperemedia to mine for insights across the numerous business verticals that Epsilon serves, such as CPG, automotive, telecom, healthcare/pharma, retail and financial services.

By integrating Mintel insight into new business opportunities, we have been able to gain the competitive edge necessary to advance partnerships with global brands and key business players.

For our organization, it’s about depth and breadth. Having one without the other doesn’t enable success in our business.

Virginia Harvey, Secondary Research Manager, Epsilon
VocaLink logo

We use Mintel Reports, mostly for financial services and ecommerce markets, plus a few retail and technology ones.

As a leading payments provider, we value additional insights into consumer behaviour, opinions and trends that are shaping the many different markets we operate in. Mintel is a very good and very quick way for us to obtain those insights.

We use Mintel to get a view on where a particular market is going, which can support us in product development and help us identify opportunities or indeed risks, it is a very useful barometer of a market’s potential.

 

Andrew Neeson, Market Intelligence Manager, VocaLink

Is this report right for you?

From consumer reports to customised growth strategies. We have an option to suit your business requirements.

Find out more