McKinsey Report Says Metaverse Could Be Worth $5T By 2030
A stronger emphasis on optimizing the human experience to provide satisfying experiences for customers, end users, and citizens will be essential for Metaverse’s success.
The 2022 bear market somewhat dampened the euphoria around emerging crypto sub-ecosystems like nonfungible tokens (NFTs), but the Metaverse is still well-positioned for long-term disruption. A McKinsey & Company analysis underlines the technology’s potential to produce up to $5 trillion in value by 2030, considering the many consumer and business-centric use cases it may cater to.
The paper emphasized the necessity of four technological enablers for the Metaverse to realize its full potential: devices (AR/VR, sensors, haptics, and peripherals), interoperability and open standards, enabling platforms, and development tools. However, a higher emphasis on maximizing the human experience to create excellent experiences for customers, end users, and citizens weigh down to the success of Metaverse.
Source: McKinsey & Company
The highest adoption levels across many businesses have been observed for metaverse efforts related to marketing, learning, and virtual meetings. However, a McKinsey poll of senior executives performed in April 2022 revealed that most Metaverse-related projects had low-medium acceptance rates.
Source: McKinsey & Company
The report’s conclusion, which underlined the effects the Metaverse may have on both personal and professional life, was that it “is just too huge to be ignored.” By 2030, more than half of live events, with a potential value of $5 trillion, might take place in the Metaverse, according to a prediction by McKinsey.
One-third of singles who responded to a poll expressed interest in dating in the virtual world, which puts Metaverse in an excellent position to host contemporary romantics. A recent survey by the online dating service Dating.com revealed the following:
“With advancements in dating app technology and the metaverse, more daters are open to making connections that span different cities, countries, and even continents.”
Singles are more receptive to dating folks from various geographic places now that Metaverse is in the picture.
