The Impact of Metaverse on Revenue Creation: A New Era of Possibilities
Technology 17 Dec 2022 BubuPartners Analysis team
What is Metaverse ?
The term “metaverse” may sound like something straight out of a science fiction novel, but it’s becoming an increasingly important concept in the world of technology and business. A metaverse refers to a virtual world or collection of virtual worlds that exist in a common digital space and can be accessed by users over the internet. These virtual environments can be created using a range of technologies, including virtual reality, augmented reality, and other immersive technologies.
According to Statista’s Advertising & Media Markets Insights, the metaverse is set to become a major revenue generator in the coming years. The report estimates that worldwide metaverse revenue will reach $490 billion by 2030, with e-commerce and gaming serving as the biggest revenue drivers. However, other analyst companies believe that the market volume could be even higher, ranging from approximately $750 to $1,700 billion U.S. dollars[1].
One of the biggest areas of growth in the metaverse is expected to be e-commerce. Currently, metaverse e-commerce sales are just around $20 billion, but this is projected to grow to over $200 billion by 2030. This growth is due in part to the fact that metaverse environments offer new opportunities for shopping and advertising, with users able to browse and purchase virtual products and services.
Gaming in the metaverse
Gaming is another major area of revenue growth in the metaverse, with the industry projected to reach around $163 billion by 2030. As more people turn to virtual worlds for entertainment, gaming companies are looking for ways to monetize their offerings through virtual goods, in-game advertising, and other revenue streams.
In addition to e-commerce and gaming, the metaverse also offers new opportunities for revenue creation in areas such as education, entertainment, health and fitness, and even telecommuting. For example, virtual classrooms and training programs could offer a more immersive and engaging learning experience, while virtual fitness programs could provide a new way for people to exercise from home.
Overall, the metaverse represents a significant opportunity for businesses and entrepreneurs to tap into a new and rapidly growing market. As the technology continues to evolve, we can expect to see even more creative and innovative uses of virtual environments that generate revenue and bring new value to users around the world.
Reference:
[1] https://www.statista.com/chart/29329/metaverse-revenue/
