Digital Transformation Slows Down the Global Economy
Metaverse Making Money in 2023
By Aarti Dhapte , 30 March, 2023
Metaverse is taking the world by storm. According to the reports, the metaverse is supposed to take the worldwide metaverse revenue up to USD 490 billion by 2030. Some other reports also say the global metaverse market will be worth USD 800 billion by 2024. Other surveys assume the market volume is between 750 and 1,700 billion US dollars.
Many companies are entering this new virtual place; thus, there is a great demand for the services within the metaverse. Metaverse is the collection of virtual worlds or a virtual world that exist in a common digital space and users can access through the internet. The applications of virtual world reality and other technologies are included in the Metaverses. Gaming and E-Commerce are the most significant revenue drivers for metaverses. It also provides opportunities to create revenues in the sectors of education, health and fitness, entertainment, and even telecommuting.
According to the reports, e-commerce sales are expected to grow to over USD 200 billion by 2030. The value is currently around USD 20 billion. On the other hand, gaming is anticipated to grow from USD 10 billion to USD 163 billion by 2030.
Metaverse is generally associated with augmented reality (AR) and virtual reality (VR). Most of the metaverse platforms can be accessed using PCs. There is no need for an expensive VR headset to access metaverse platforms. Other biggest applications where metaverse revenue works are health and fitness, education, and the workplace.
The Top Sectors Investing In the Metaverse
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