South Korea Metaverse Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software, Service), By Technology (Blockchain, Virtual Reality and Augmented Reality, Mixed Reality, and Others), and South Korea Metaverse Market Insights, Industry Trend, Forecasts to 2035

South Korea Metaverse Market Insights Forecasts to 2035

• The South Korea Metaverse Market Size was Estimated at USD 2,509.21 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 33.25% from 2025 to 2035
• The South Korea Metaverse Market Size is Expected to Reach USD 58,985.18 Million by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Metaverse Market Size is anticipated to reach USD 58,985.18 Million by 2035, growing at a CAGR of 33.25% from 2025 to 2035. The market expansion is mostly being driven by the broad use of virtual platforms for work, social interaction, and entertainment.

Market Overview

The South Korea metaverse market encompasses with the help of technologies like virtual reality (VR), augmented reality (AR), and extended reality (XR), users can interact with immersive virtual environments in the quickly growing South Korean metaverse market. South Korea's goal to lead the world in metaverse innovation is reflected in this market, which integrates a number of industries, including retail, public services, education, entertainment, and industrial applications. Additionally, Businesses are looking into metaverse platforms for improved customer engagement, virtual commerce, and creative marketing techniques. Metaverse technologies are being incorporated into real estate endeavors to enable virtual property tours and simulations. With its immersive and interactive experiences that go beyond traditional gaming, the gaming industry, which is engrained in South Korean culture, is a perfect fit for the expansion of the metaverse. In terms of social interactions, events, and entertainment, South Koreans, who are well-known for their love of digital culture, are adopting metaverse platforms. The metaverse's prominence is further enhanced by government investments and initiatives, which establish South Korea as a major participant in the metaverse scene. Additionally, the nation's digital future is being shaped by technological prowess, cultural resonance, and forward-thinking business strategies, all of which are expected to support the regional market during the forecast period.

Report Coverage

This research report categorizes the market for the South Korea metaverse market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea metaverse market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea metaverse market.

Driving Factors

In South Korea, the metaverse is gaining popularity and traction due to a combination of technological advancement, a societal preference for digital experiences, and an innovative business environment. Furthermore, South Korea, a country at the forefront of technological development, uses metaverse technologies like blockchain, augmented reality, and virtual reality to create immersive digital worlds. The development and uptake of metaverse applications are further accelerated by the nation's strong IT infrastructure and extensive connectivity. Furthermore, the metaverse in South Korea offers attractive business prospects in a number of industries, which is serving as yet another important driver of growth.

Restraining Factors

Major cities like Seoul have made progress, but there are still gaps in the technology infrastructure. The broad adoption of metaverse technologies may be hampered by issues like erratic internet connectivity and restricted access to expensive hardware in some areas.

Market Segmentation

The South Korea Metaverse Market Share is classified into component and technology.

• The hardware segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea metaverse market is segmented by component into hardware, software, and service. Among these, the hardware segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. government investments in digital infrastructure, high-speed connectivity, and developments in AR/VR devices. This is because of demand is also being driven by the growing use of immersive technologies in enterprise, educational, and gaming applications.

• The virtual reality and augmented reality segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea metaverse market is segmented by technology into blockchain, virtual reality and augmented reality, mixed reality, and others. Among these, the virtual reality and augmented reality segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. motivated by the nation's strong emphasis on gaming, immersive experiences, and digital transformation. VR and AR technology adoption has been further accelerated by South Korea's sophisticated IT infrastructure and government support for the growth of the metaverse.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea metaverse market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• VRISM
• ISPark
• Social Infra Tech
• NetLOX
• Naver Z Corporation
• Others

Recent Developments:

• In November 2022, the metaverse platform Zepeto, which was introduced by the South Korean tech behemoth Never, announced a strategic partnership with INHOPE, a global hotline network that combated child abuse online. To safeguard the nation's youth from sex abuse and exploitation, the two companies strengthened their monitoring technology and created a reporting hotline as part of their partnership

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea metaverse market based on the below-mentioned segments:

South Korea Metaverse Market, By Component

• Hardware
• Software
• Service

South Korea Metaverse Market, By Technology

• Blockchain
• Virtual Reality and Augmented Reality
• Mixed Reality
• Others