The Market and Industry Scenario of the Metaverse

This thesis provides an integrated analysis of the evolution, market dynamics, and development prospects of the metaverse, with a special focus on the Italian context. Starting from a historical and conceptual framework, it traces the journey from the earliest notions of a virtual universe to the latest immersive implementations, emphasizing the critical role of artificial intelligence as an enabler of personalization and automation within digital environments. The global market analysis examines key players and enabling technologies such as cryptocurrencies, virtual and augmented reality, high‑speed networks, underscoring growth opportunities in tourism, education, and commerce as well as challenges like high costs, regulatory uncertainty, and security risks. Further consideration is given to the global value chain, illuminating the interdependencies among platform providers, content developers and end users, outlining the most promising business models and monetization strategies. Last, this thesis investigates the Italian industrial landscape by charting the digital maturity of national businesses to detect best practices and suggest actions to support Italy's adoption and competitiveness in the nascent metaverse ecosystem.