December 5, 2022

McKinsey: By 2030, the metaverse industry will rise in price to $ 5 trillion

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McKinsey: By 2030, the metaverse industry will rise in price to $ 5 trillion

One of the main ways to make money in the metaverses will be e-commerce, the turnover of which will reach about $ 3 trillion, analysts at the international consulting company McKinsey & Company say.

According to the McKinsey report, by 2030 the totalglobal spending in the metaverse could be as high as $5 trillion. In the 77-page report, titled "Creating Metaverse Value," company analysts examine trends from two international surveys. In one of them, experts collected data from 3,100 people in 11 countries, in the other, from the heads of 448 companies in 10 different countries and 15 regions.

McKinsey predicted the futureconsumer behavior in the metaverse and figured out how the situation will develop in five categories: games, distance learning, fitness, communication and commerce.

According to the report, almost 60% of all respondentsconsumers prefer at least one activity in the virtual world to its alternative in the real world. 79% of those who are already actively using the metaverse have made at least one purchase there.

According to experts' forecasts,commerce in 2030 will be spent from $2 to $2.6 trillion. Virtual advertising will be another important sector, with associated revenue expected to be between $144 billion and $206 billion. In the first five months of 2022 alone, more than $120 billion was invested in metaverse-related technology and infrastructure, more than doubling more than in the same period last year.

The report highlights that market participantsmetaverses will have to face the difficulties. For example, in order to take advantage of the metaverses, some of the employees will have to be retrained.

Yahoo has announced that it will host a seriesevents in the Decentraland metaverse for Hong Kong residents. Due to quarantine restrictions, citizens of this Asian city-state cannot visit public places without a negative COVID-19 test.

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