January 5, 2023

Metaverse Expected to Pump $1 Trillion in Commerce by End of 2025, Research Says



The increasing interest of businesses and consumers in the metaverse as an economic tool is predicted to pump $1 trillion as revenues in the commerce sector by the end of 2025, a recent report research said.

These findings were announced by Accenture during the Consumer Electronics Show (CES) in Las Vegas while speaking about the commercial impacts of the metaverse on consumers and businesses.

According to the research’s results, 89% of 3,200 executive-level managers surveyed believe that the metaverse would play a key role in the future of their organizations. The findings revealed that about 4.2% of the company’s revenues, or a total of $1 trillion, will be earned from the metaverse experiences by the end of 2025.

In addition, over 55% of 9,000 consumers surveyed see the metaverse could be a business opportunity by creating and monetizing content on it. Also, 90% of the consumers showed their keenness to use the metaverse in the next year, while 55% of the consumers wanted to be active in the virtual space.

Although gaming attracts 59% of the metaverse users, only 4% of the consumers see the metaverse as a gaming platform. Actually, 70% say that they would use the metaverse to access products and services in different categories, such as fitness, travel, retail, media and entertainment, and healthcare.

The younger consumers showed a growing interest in using the metaverse in fitness and media while the older ones intend to enter the metaverse for healthcare purposes. About 70% of the consumers surveyed said they would purchase goods and services on the metaverse, while 60% will use the metaverse for working out at home and 57% for travel purposes.

Commenting on the findings, David Treat, senior managing director and co-lead of Accenture’s Metaverse Continuum business group, said the metaverse will transform all aspects of businesses in the next era as a continuum of technologies.

Meanwhile, Accenture’s Software & Platforms Industry Practice Lead Kevan Yalowitz noted: “Consumers are starting to see the metaverse as an essential tool which, when integrated into their lives, can streamline how they complete tasks and increase productivity. Businesses able to deliver tangible experiences that address consumer needs in key areas of interest will gain an early-mover advantage in a rapidly forming metaverse industry.”

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