McKinsey & Company is an international management consulting firm. Last week, they released a report on creating value inside the metaverse. According to the report, they surveyed more than 3400 people, including executives as well as consumers. They were surveyed regarding the adoption of the metaverse.
The potential of the metaverse, as well as how it could change the behaviors of consumers, was also researched. They have also interviewed around thirteen senior leaders as well as metaverse experts. McKinsey says that by the year 2030, it’s possible that as many as 50% of all live events are held in the metaverse.
The Rise Of The Metaverse
McKinsey also added that as much as 80% of all commerce could be affected by activities inside the metaverse. Then the firm said that learning, collaboration and development would mainly take place inside the metaverse. They expect that the average user of the internet would spend upto six hours everyday on experiences within the metaverse.
By just 2022 alone, upwards of $120 billion has made its way inside the metaverse. This is more than double of what the metaverse generated in 2021, which was around $57 million. McKinsey adds that even though estimates may tend to vary, they believe that the metaverse could succeed in generating upto $5 trillion by the year 2030. That also noted that the metaverse will have a large impact on the commercial as well as the personal lives of people. They conclude the report by saying that the metaverse is simply becoming too big to ignore.