Profitability of Metaverse-based projects may reach $5 trillion in the next seven years, but only if they’re used in consumer and corporate scenarios.
According to the report by McKinsey & Company, a large international consulting firm, the profitability of Metaverse-based projects will grow by more than 1,566% and may reach ~$5 trillion by 2030. However, analysts emphasize that the economic value of Metaverses will only grow through “focusing on the human experience.”
Analysts believe the main growth drivers of the sector in the next seven years will be:
- the attractiveness of the virtual experience for users;
- consumer willingness to use technology and digital assets;
- interest from companies that are ready to invest significant funds in the development of the Metaverse infrastructure.
Thus, the sector development will directly depend on users. McKinsey & Company analysts also emphasize that the main driving force behind the development of Metaverse technologies and their adoption by companies and brands will be the active use of virtual experience in:
- e-commerce;
- banking;
- retail;
- telecommunications and media;
- production processes.
As for the technological tools needed to realize the potential of Metaverse-based projects, experts identified four key directions for their development in the coming years:
- improving augmented and virtual reality devices;
- creating open standards for the interoperability of various Metaverse projects;
- using facilitation platforms for collaborative development in the sector;
- optimizing development tools.
Recall that earlier, analysts predicted the growth of the Metaverse sector, claiming that its volume could exceed $50 billion by 2026.
