February 12, 2023

McKinsey Says Metaverse Predicted to Generate $5 Trillion by 2030

Metaverse Real Estate

The metaverse is assumed to generate $4 trillion to $5 trillion by 2030 across consumer and enterprise use cases, according to McKinsey, a global management and consulting company.

In its report, titled “Value Creation in The Metaverse,” McKinsey noted that several factors are pushing this predicted growth, including the acceptability quotient of the metaverse across genders, geographies, demographics, and generations, which is a key element that promotes its growth and adoption, according to Crypto News.

The report underlined that the consumers are ready for spending their money in the metaverse in spite of its novelty, in addition, companies pump investments in metaverse infrastructure and brands have already received positive feedback from their experience in the virtual world.

Areas such as media, retail, banking, discrete manufacturing, process manufacturing, professional services, and telecommunications are identified by McKinsey to witness potentially high use cases for enterprises in the metaverse.

Regarding consumers, areas like education, entertainment, ads, gaming and e-commerce enhance the existence of consumers in the metaverse.

Another factor that was mentioned by the report was the metaverse’s combinatorial nature as the metaverse combines AI, virtual reality, Web 3.0, and advanced connectivity.

According to the report, the metaverse will significantly impact the world’s commercial and personal lives, pointing out that more than $120 billion were invested in the metaverse in 2022 so far.

The report mentioned that 79% of the users who joined the metaverse had already made a purchase, adding more than 15% of corporate revenue is expected to come from the metaverse in the next five years, according to 25% of senior executives.

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