McKinsey & Company: By 2030, the metaverse market will reach the level of the Japanese economy

McKinsey & Company: By 2030, the metaverse market will reach the level of the Japanese economy

International consulting firm McKinsey & Company claims that the Metaverse could bring in up to $5 trillion in revenue over 10 years, which is similar to the revenue of the world’s third largest economy, Japan.

Research firm McKinsey & Company has posted a report saying that by 2030, the development of the metaverse could have an economic impact on e-commerce of $2 to $2.6 trillion.

“We estimate that the metaverse will impact the academic virtual learning market by $180 to $270 billion, the advertising market by $144 to $206 billion, and the gaming market by $108 to $125 billion. However, these effects could manifest differently in the value creation process,” the report’s authors predict.

Analysts believe that companies that create content for the Metaverse can build long-term competitive advantages.

The report states that cryptocurrency, artificial intelligence and augmented/virtual reality are now considered by authorities in many countries to be the three leading technologies of the metaverse.

The report’s authors predict that along with crypto-assets, collectible tokens (NFTs), the virtual real estate asset market will remain volatile in the near future.

“Nevertheless, the rise in prices is driven by the scarcity that is embedded in today’s platforms, such as Decentraland and The Sandbox. This increases the associated investment risk, even as investing organizations seek to capitalize on their virtual real estate, for example, by using it as a metaverse to interact with consumers,” they believe.

According to the report’s authors, these companies are betting on mass adoption of the metaverse in the near future and the adoption of a specific platform on which to buy virtual land (given the near-zero compatibility between worlds at the moment).

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