McKinsey’s research predicts that the Metaverse will be a $ 5 trillion market by 2030

Global spending on the Metaverse could reach $ 5 trillion by 2030, according to a new report from international consultancy McKinsey & Company.

The 77-page report, entitled “Creating Value in the Metaverse,” published yesterday, analyzed current hiring trends and extracted additional information from two global surveys. One collected data from 3,104 consumers in 11 countries and the other interviewed a series of executives from 448 companies in 15 industries in 10 countries.

McKinsey used this data to make predictions about the future of consumer behavior in the Metaverse. According to the consultancy, this can be divided into five main activities: games, socializing, fitness, commerce and distance learning.

McKinsey found that nearly 60% of all consumers surveyed prefer at least one activity in the virtual world compared to physical alternatives, 79 of the consumers currently active in Etaverse. % Has already purchased.

E-commerce is Metaverse’s primary source of funding, and McKinsey predicts that it will account for $ 2 trillion to $ 2.6 trillion in total spending by 2030. Virtual advertising is another important sector, with associated revenues projected to be $ 144 billion. To US $ 206 billion.

Faced with current pessimism in the mainstream crypto market, the report highlights that more than $ 120 billion has already been invested in Metaverse-related technology and infrastructure in the first five months of this year. increase. That’s more than double the total of $ 57. hundred million. .. Invested in Metaverse Technology throughout 2021.

In a related blog post, report lead author and senior McKinsey partners Lareina Yee and Eric Hazan provided further comments on their work.

“What’s exciting is that the Internet-like metaverse is the next platform on which we can work, live, connect and collaborate.”

Regarding the reaction of the executives, Yee said: “Executives generally disagree, but according to our research, 95% of them believe that the Metaverse has a positive impact on the industry.”

According to the report, 25% of all executives predict that Metaverse will drive 15% of the organization’s total margin growth over five years, and nearly one-third will make a major change in how Etaverse operates the industry. I think it has the potential to bring it.

Despite general enthusiasm, there was still sound skepticism, with 31% of all executives remaining somewhat uncertain about the return on investment in the Metaverse experience.

Brands should be excited about the opportunity to wait for them in the Metaverse, but they should also be ready to tackle the challenge head-on and make some serious plans, Hazan said. rice field.

“There are urgent challenges that need to be addressed. On the one hand, instead of competing with the Metaverse, some of the workforce needs to be re-skilled to take advantage of it. Stakeholders have a Metaverse experience. We need to develop a roadmap to ensure that we are ethical, safe and inclusive. “

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