Metaverse Economy Set to Reach $400 Billion by 2030 But Struggles to Live Up to Initial Hype
The metaverse is a virtual world where users share experiences and interact in real-time within simulated scenarios. The report estimates the metaverse economy will be worth $400 billion by 2030, up from $48 billion in 2022. However, the theme has struggled to live up to the excessive hype that built up in 2021 and early 2022. Tech companies must develop user interfaces that are easily accessible, synchronize the real and virtual environments.
The metaverse hype primarily focused on consumer use cases, but solutions like data visualization, collaboration, and training will fuel the enterprise metaverse. Despite skepticism around long-term benefits, focusing on the future of work will boost adoption by large enterprises in the next five years. It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends. The detailed value chain is split into four layers: foundation, tools, user interfaces, and experience.
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