Metaverse spending volume could see $5 trillion by 2030

Metaverse spending volume could see $5 trillion by 2030

According to a new report by international consulting firm McKinsey & Company, global spending in the metaverse could exceed $5 trillion by 2030.

77-page titled “Creating Value in the Metaverse” published yesterday reportanalyzed current prevalence trends, including their impressions from two previous studies conducted with consumers and managers from many different countries.

McKinsey used this data to predict what consumer behavior will be like in the future in the metaverse and concluded that five major activities will likely take place in the metaverse: gaming, socializing, fitness, commerce, and distance learning.

Almost 60 percent of the consumers who participated in the research stated that they would prefer at least one activity they perform in the virtual world to the physical alternative, while 79 percent, who stated that they are currently active in the metaverse, stated that they have already made a purchase in the virtual world.

McKinsey estimates that e-commerce will be the main source of revenue in the metaverse, accounting for as much as $2-2.6 trillion of spending volume to be reached by 2030. It is predicted that virtual advertising will be a large sector in the field and will spend 144-206 billion dollars.

“While executives often disagree with us, our research shows we agree a lot on one thing: 95 percent of executives believe the metaverse will have a positive impact on their industry,” said Lareina Yee, co-author of the report. found.

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