New report estimates that Metaverse could contribute 2.8% to global GDP in the first decade

The contribution to GDP in 2031 of the metaverse could be $ 3 trillion whether adoption begins in 2022, according to economists at Analysis Group

BOSTON, May 16, 2022 / PRNewswire / – Financial experts from Analysis group, one of the world’s largest financial consulting firms, released a report suggesting that if the adoption and impact of the metaverse develops in the same way as mobile technology, it could contribute as much as 2.8% to global gross domestic product (GDP). ) for 10 years after adoption begins. If Metaverse launches in 2022, adoption over the next 10 years could lead to one $ 3 trillion contribution to global GDP by 2031. Like mobile technology, the metaverse is expected to have far-reaching applications with the potential to transform a wide range of economic sectors such as education, healthcare, manufacturing, job training, communications, entertainment and retail.

The analysis, https://www.analysisgroup.com/metaverse, adapts research on previous groundbreaking technologies to draw conclusions about the potential adoption process and economic impact of the metaverse. The meta-verse, which is still in its infancy, is expected to include a large network of digital spaces made possible by the development of technologies such as augmented reality (AR), virtual reality (VR) and mixed reality (MR).

The analysis focuses on measuring the potential economic impact of Metaverse if it were to evolve as previously successful technologies in terms of user adoption rates and GDP impact. Researchers chose mobile technology as an appropriate analogue because of its similarities to Metaverse in the way it combined existing and new innovations to fundamentally change the global technological and economic landscapes.

The team drew on academic literature on innovative technology development cycles and publicly available data for mobile technology implementation and adoption over a number of years to assess the direct effects, indirect and catalytic or stimulating. These factors are important for GDP, including job creation, business growth and economic development.

Territory

Metaverse Share

of GDP over 10 years

Metaverse Total

Contribution to GDP in 2031 if
The adoption will begin in 2022

Asia-Pacific (APAC)

2.3%

$ 1.04 trillion

United States

2.3%

$ 560 billion

Europe

1.7%

$ 440 billion

Middle East, North Africa and Turkey (MENAT)

6.2%

$ 360 billion

Latin America (LATAM)

5.0%

$ 320 billion

India

4.6%

$ 240 billion

Sub-Saharan Africa (SSA)

1.8%

$ 40 billion

Canada

0.9%

$ 20 billion

Global influence

2.8%

$ 3.01 billion

The study is authored by Analysis Group Managing Principal Laurits Christensen and leader alexander robinson, supported by a team of economists. Funding was provided by Meta.

To learn more about the possibilities in the Analysis Group, visit AnalysisGroup.com.

About the analysis group:

Analysis Group is one of the largest international financial consulting firms with more than 1,000 professionals spread across 14 offices in North America, Europeand Asia. Since 1981, we have provided expertise in economics, finance, healthcare analysis and strategy to top law firms, Fortune Global 500 firms and government agencies around the world. Our in-house experts, along with our network of affiliated experts from academia, industry and government, provide our clients with unique expertise of unparalleled breadth and depth.

Contact:
Analysis group
Eric Seymour+1 978 273 6049
[email protected]

SOURCE Analysis group

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