The meta-verse could contribute 2.8% to global GDP in its first decade

Metaverset, the universe that combines augmented, virtual and mixed reality, can play a crucial role in global economic growth. According to a report by the financial consulting firm Analysis Group, 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) during the tenth year. after the beginning of its adoption.

In its first decade, Metaverse was able to contribute 2.8% to its global gross domestic product

In other words, if enlargement were to begin in 2022, the adoption of the metaverse over the next decade could result in a $ 3 trillion contribution to global GDP by 2031. As with technology mobile, this innovation is expected to have far-reaching applications, potentially transform many economic sectors, including education, healthcare, manufacturing, job training, communications, entertainment and retail.

The report, entitled “The Potential Global Economic Impact of the Metaverse”, assesses how this technology will evolve if it follows in the footsteps of past successful innovations. It takes into account the user adoption rate as well as the effect on GDP.

“Currently, we are seeing the early stages of development, including the roll-out of infrastructure and technologies that can support the metaverse. The extent to which the economic potential of the metaverse is realized depends on the effectiveness of the infrastructure and technologies developed and implemented. as well as the degree of adoption of the new technology by consumers and businesses, “warn the authors. authors of the text, Lau Christensen and Alex Robinson.

Researchers chose mobile technology as a benchmark because of its similarities with the metaverse, combining existing and new innovations to radically change the global technological and economic landscapes.

The team used research in development cycles for innovative technologies to assess direct, indirect, catalytic and stimulating effects. These are important factors for GDP, including job creation, business expansion and economic growth.

At the same time, the report examines metaverse-related technologies already in use, such as Pokémon Go, a mobile phone game based on capturing virtual creatures. Google Maps has been integrating augmented reality for several years.

In addition, virtual reality glasses such as Oculus Quest 2 are mentioned, which not only allow interactive experiences in the context of the game, but also physical activities such as boxing in a completely digital environment.

Microsoft’s HoloLens, on the other hand, have been on the market for some years, and thanks to their mixed reality proposals, they have enabled everything from distance training to running other types of meetings where time and space are irrelevant.

NFT and cryptocurrencies in all their forms have changed the way users interact on the network and are also a base on which the meta-verse will elaborate more and more, which, as mentioned before, is not something completely new, but rather the construction of a concept by using existing technologies. In fact, we are talking about the Internet of the future or an evolution of the connection that currently exists in the digital universe.

Technological innovations in the 20th century, such as mobile telephony, indicate that the meta-verse has the potential to contribute to GDP growth, job creation, increased productivity and improved well-being.

However, the authors warn that in order for this to happen, significant progress must be made in developing and implementing the infrastructure for this technology, creating policies that support the widespread and equitable distribution and use of the metaverse, and the introduction of other creative innovations. for this technology will have a significant impact on the world.

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