McKinsey & Co .: Metaverse could reach $ 5 trillion in value by 2030

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New research from McKinsey & Co. shows that the Metaverse could reach a value of $ 5 trillion by 2030. This illustrates the impact the Metaverse is projected to have on key industries and companies over time.

McKinsey said the report, dubbed Value creation in the metaverse, shows that the metaverse may be too large to ignore. Many of us think this is science fiction, because the metaverse is the universe of virtual worlds that are all interconnected, as in novels like Snowfall And Player on loan one. But it has become a vision for the next generation of computing, as a space version of the Internet. (Neal Stephenson, author of Snow Crash, which was published in 1992, just launched an open metaverse effort called Lamina1.)

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McKinsey’s preliminary predictions show that the metaverse has the potential to grow to $ 5 trillion by 2030. It proves that e-commerce is the largest economic force ($ 2.6 trillion), ahead of sectors like the e-learning ($ 270 billion), advertising ($ 206 billion) and games ($ 125 billion).

As companies of all shapes and sizes seek to enter the Metaverse, this report provides a clear insight into what the Metaverse is and is not, what newbies are doing, what is fueling investment and potential for consumers. and businesses. commercial enterprises (B2B).

The report is based on multiple proprietary insights and analyzes, including a survey of more than 3,400 consumers and executives about Metaverse adoption, its potential, and likely impact on behavior. The researchers also interviewed metaverse builders and industry experts.

“The metaverse represents a strategic turning point for companies and represents a significant opportunity to influence the way we live, connect, learn, innovate and collaborate,” said Eric Hazan, senior partner at McKinsey & Co., in a press release. “Our ambition is to help leaders in consumer and B2B companies better understand their power and potential, identify strategic imperatives and act as a force for its evolution.”

Already this year, corporations, venture capital firms and private equity firms invested more than $ 120 billion in the metaverse, more than double the $ 57 billion they invested last year.

Several factors are behind this investor enthusiasm:

  • continued technological advances in the infrastructure required to power the metaverse
  • favorable demographic wind.
  • increasingly consumer-centric marketing and brand engagement.
  • increase market readiness as users explore the current version of the metaverse, which is largely driven by games as applications emerge in socializing, fitness, commerce, virtual learning, and other uses.
  • More than three billion gamers around the world already have access to different versions of the metaverse.

“Although the idea of ​​virtually connecting has taken decades, it is now more and more real, which means that real people are using it and spending real money and companies are betting big,” said Lareina Yee, senior partner at McKinsey & Co. , in a statement. “Yet this growing interest has made it difficult to separate the hype from reality. It is worth mentioning that while the collapse of the first dot-com boom led to the demise of dozens of companies, the Internet itself has grown stronger, giving birth to new entrants.

Consumers are already engaged in the metaverse

Snowfall

Consumers are already there. McKinsey’s research shows that consumers are excited about the transition of life to the Metaverse, with nearly six in ten consumers (59%) preferring at least one experience of the Metaverse over its physical alternative.

Among these consumers, some types of activities stand out as the most preferred in the immersive world:

  • purchases – purchase of physical or virtual goods (79%).
  • attend virtual social events or play social games (78%).
  • exercise using virtual reality (76%).

Senior executives believe the metaverse will have a significant impact on their industry

Business leaders see the potential of the metaverse to drive impact and margin growth. 95% of executives say they expect the Metaverse to have a positive impact on their industry within five to ten years, with 31% saying the Metaverse will fundamentally change the way their industry works. More importantly, a quarter of executives expect metaverse technology to drive more than 15% of their organization’s total margin growth over the next five years.

“The Metaverse has put us on the brink of the next wave of digital disruption,” said Tarek Elmasry, senior partner, McKinsey & Company. “It’s transformative. This is likely to have a major impact on our business and personal lives, which is why businesses, policy makers, consumers and citizens may want to explore and understand as much as possible this phenomenon, the underlying technology and the ramifications this could have for businesses. our economies and for society in general.

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