Metaverse to generate $5 Trillion

The Metaverse could generate $5 trillion by 2030. No, I’m not shooting this in empty space, I have sources.

McKinsey & Company published a report in June 2022 titled "Value creation in the metaverse."

The report details: “Our work began by surveying more than 3,400 consumers and executives on metaverse adoption, its potential, and how it may shift behaviors. We also interviewed 13 senior leaders and metaverse experts.”

McKinsey also reported that by 2030, it is entirely plausible that more than 50 percent of live events could be held in the metaverse.

More than 80% of commerce could be affected by activities in the metaverse, the firm stated, adding that most learning, development, and collaboration would take place there. In addition, McKinsey predicted that users would spend six hours a day in metaverse experiences by 2030.

Over $120 billion has already flowed into the metaverse space in 2022, more than double the $57 million in 2021.

“While estimates vary widely, we forecast it [the metaverse] may generate up to $5 trillion by 2030,” the firm described.

“Our estimate of the metaverse’s potential impact by 2030 is based on a bottom-up view of consumer and enterprise use cases, derived from discussions with around 20 internal and external experts … In short, our forecast is our best estimate given the very high levels of technical, regulatory, and societal uncertainty.”

Even if the metaverse doesn’t generate $5 trillion by 2030, it is too big to be ignored.