Determinants of SMEs' Intention and Satisfaction toward Metaverse Adoption in Bangkok

Abstract The growing significance of immersive technologies, particularly the Metaverse, presents opportunities for small and medium-sized enterprises (SMEs) to enhance innovation and competitiveness. However, research on the determinants of SMEs’ Metaverse adoption in emerging economies such as Thailand remains limited. This study examines factors influencing SMEs’ satisfaction and intention to adopt Metaverse technologies in the Bangkok Metropolitan Area. A quantitative research design was employed using survey data from SMEs. Confirmatory factor analysis (CFA) validated the measurement model, showing factor loadings between 0.70 and 0.83, composite reliability (CR) above 0.85, and average variance extracted (AVE) over 0.60. Structural equation modeling (SEM) analyzed causal relationships among perceived trialability, observability, compatibility, satisfaction, and adoption intention, achieving good model fit (χ²/df = 1.89, CFI = 0.962, TLI = 0.954, RMSEA = 0.048, SRMR = 0.041, GFI = 0.931). Grounded in the Diffusion of Innovations Theory (IDT) and the Technology Acceptance Model (TAM), results indicate that perceived trialability, observability, and compatibility significantly enhance satisfaction, which strongly predicts adoption intention. Satisfaction also mediates the effects of innovation attributes on adoption. The study contributes to theory by integrating IDT and TAM and provides practical implications for promoting SME engagement through enhanced trialability, compatibility, and visibility of Metaverse applications.