The McKinsey company has released their statistics for the metaverse market. enlightening and encouraging numbers. This indicates a promising future for the metaverse ecosystem and all businesses making investments there. Further, McKinsey & Company predicts that by 2030, the metaverse will be worth $5 trillion. This merely serves to illustrate the impact the metaverse is anticipated to have on important industries and businesses over time.
While the year 2022 is still young, metaverse startups have already raised $6 billion.
Since the beginning of 2022, the metaverse industry has been able to raise more than $6 billion in funding. Beyond this sum, however, $20 billion in investments and mergers or acquisitions have been made, bringing the total to close to $100 billion. That is more than twice from the previous year, according to the McKinsey analysis. 2021 saw a $57 billion investment in metaverse-related projects.
The metaverse will cost more than 120 billion dollars by 2022.
Therefore, the sector of the metaverse is worth more than 120 billion dollars. This enthusiasm even outpaces that for AI at McKinsey. These were in fact below 39 billion in 2016 and 93 billion in 2021. This table opens up a wide world of fresh viewpoints for us. The money that has been invested in the metaverse can only inspire us to imagine what it might be capable of in the future. It affects the entirety of Web 3.0, which is undoubtedly the Internet of the future.
Market with a projected value of $5 trillion by 2030!
One of the two primary writers of the McKinsey research on the metaverse, Eric Hazan, offers his thoughts on this astounding number. “We anticipate that the metaverse’s economic worth will increase dramatically. Its appeal cuts across genders, regions, industries, and generations. He claims that the predictions he provided for McKinsey are a more or less accurate assessment of a very promising industry: Our bottom-up analysis of consumer and business use cases indicates that by 2030, this may have an impact of up to $5 trillion, or about the size of Japan’s economy, the third largest in the world.
An expanding fascination with the metaverse
The metaverse has becoming increasingly popular. According to McKinsey, global Google searches for “metaverse” increased by 7,200% in 2012. Roblox, a platform for metaverse online gaming, reportedly has over 55 million daily active users in February 2022. To its Reality Labs subsidiary, Meta has contributed approximately $10 billion. Activision, a game company, will be acquired by Microsoft Corporation for $69 billion, according to Microsoft Corporation. But with so much interest, it’s becoming challenging to distinguish between hype and truth. Since the introduction of the Internet, and really any technological advancement, this has always been the case.
