Metaverse Market Set To Reach $900 Billion by 2030: Reports
The metaverse is poised to become a massive commercial market valued at up to $900 billion by 2030, according to a new report from strategy firm Bain & Company.
However, the study indicates the nascent platform remains in its formative “seed stage” and could take another five to 10 years to achieve widespread adoption and usage at scale.
The report, titled Taking the Hyperbole Out of the Metaverse, analysed both the blockbuster revenue potential as well as the challenges that lie ahead for the metaverse. Far from dismissing the opportunity, Bain partners advocate engagement now during ground-floor development when technologies are refining to “get ahead and eventually scale.”
To better understand the state of play and roadmap, Bain delved into five competitive metaverse battlegrounds, comprising over 90 percent of their forecasted market size breakdown for 2030. These included virtual experiences ($585 billion), content creation tools ($45 billion), app stores and operating systems ($90 billion), hardware devices ($90 billion), and computing infrastructure ($90 billion).
The report also challenges assumptions of a singular, unified digital universe platform.
In light of the growing trend toward more immersive and collaborative consumer and enterprise applications, Bain’s analysis suggests that the likelihood of a unified metaverse platform is minimal.
Rather, we can expect existing platforms with substantial user populations to enhance their immersive and engaging features, while smaller metaverse-inspired environments will strive to expand their user communities.
These virtual realms are anticipated to persist as separate entities as private corporations aim to derive value from the underlying data sets in order to recover their investments.
