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

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New research from McKinsey & Co. shows that Metaverse can reach $ 5 trillion in value by 2030. This illustrates the effect Metaverse is expected to have on key industries and companies over time.

McKinsey said the report, baptized Value creation in the metaverse, indicates that the metaverse may be too large to ignore. Many of us think it’s science fiction because the metaverse is the universe of virtual worlds, all connected, as in novels such as Snowfall and Loans play one. But it has become a vision for the next generation of computers, as a spatial version of the Internet. (Neal Stephenson, author of Snow Crash, released in 1992, has just launched an open metaverse effort called Lamina1).

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Preliminary forecasts from McKinsey show that the meta-verse has the potential to grow up to $ 5 trillion by 2030. It shows that e-commerce is the biggest economic force ($ 2.6 trillion) ahead of sectors like e-learning ($ 270 billion ), advertising ($ 206 billion) and gaming ($ 125 billion).

As companies of all shapes and sizes seek to enter Metaverse, this report provides a clear overview of what Metaverse is and is not, what early decision makers do, what promotes investment and potential for consumers and businesses. business enterprises (B2B).

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

“Metaverset represents a strategic focal point for companies, and it provides a significant opportunity to influence how we live, connect, learn, innovate and collaborate,” said Eric Hazan, senior partner at McKinsey & Co., in a press release. “Our ambition is to help consumer and B2B business leaders better understand their power and potential, identify strategic imperatives and act as a force for their development.”

Already this year, companies, venture capital firms and private equity firms have invested more than $ 120 billion in the meta-verse, more than double the $ 57 billion invested last year.

Several factors lie behind this investor enthusiasm:

  • ongoing technological advances in the infrastructure required to operate the meta-verse
  • demographic tailwind.
  • increasingly consumer-centric marketing and brand engagement.
  • increase market readiness as users explore the current version of the meta-verse, which is largely driven by gaming, while applications emerge in socializing, fitness, commerce, virtual learning and other applications.
  • Already, more than three billion players worldwide have access to various versions of the meta-verse.

“Although the idea of ​​connecting almost took decades, it is now more and more real, which means real people are using it and spending real money, and companies are betting big,” said Lareina Yee, senior partner at McKinsey & Co. announcement. “Yet this growing interest has made it difficult to separate hype from reality. It is worth remembering that while the collapse of the first dot-com boom led to the disappearance of dozens of companies, the Internet itself has become stronger and stronger, which has given rise to new entrants.

Consumers are already engaging in the metaverse

Snowfall

Consumers are already there. McKinsey studies show that consumers are excited about the transition of life to Metaverse, where almost six out of ten consumers (59%) prefer at least one Metaverse experience over its physical alternative.

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

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

Senior executives believe that the meta-verse will have a significant impact on their industry

Business leaders see the potential in the meta-verse to drive impact and margin growth. 95 percent of executives say they expect Metaverse to have a positive impact on their industry within five to ten years, with 31 percent saying Metaverse will fundamentally change the way their industry operates. 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 placed us on the brink of the next wave of digital disruption,” said Tarek Elmasry, senior partner at McKinsey & Company. “It’s transformative. This is likely to have a huge impact on our business and privacy, which is why businesses, policy makers, consumers and citizens may want to explore and understand as much as possible of this phenomenon, the technology behind it and the implications this could have. for our economies and society as a whole.

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