McKinsey & Co.’s new research shows the metaverse could grow up to $5 trillion in value by 2030. That illustrates the impact the metaverse is expected to have across key sectors and businesses over the years.
McKinsey said the report, dubbed Value creation in the metaverse, shows the metaverse may be too big to ignore. Many of us think of this as science fiction, as the metaverse is the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One. But it has become a vision for the next generation of computing, as a spatial version of the internet. (Neal Stephenson, author of Snow Crash, which was published in 1992, just started an open metaverse effort dubbed Lamina1).
McKinsey’s preliminary forecast shows the metaverse has the potential to grow up to $5 trillion in value by 2030. It shows eCommerce as the largest economic force ($2.6 trillion), ahead of sectors such as virtual learning ($270 billion), advertising ($206 billion), and gaming ($125 billion).
As companies of all different shapes and sizes look to enter the metaverse, this report provides a clear view of what the metaverse is and is not, what first movers are doing, what’s fueling the investment, and the potential for consumer and business-to-business (B2B) companies.
Our Founder and CEO, Kavya Pearlman, gave a key contribution to the report.