![]() Despite the remaining technological challenges, businesses need to take steps now to understand the current market and position themselves for the future. That said, there are still huge opportunities. Instead of a single, unified Metaverse, businesses face today a world of unconnected proto-metaverses. This is something that businesses need to be aware of. ![]() Using this analysis, we concluded that, in contrast to what many observers are saying, the underlying technology to enable the Metaverse as the complete “future version of the Internet” won’t be fully available for around a decade. To help understand the Metaverse and its current development status, we developed a six-layer architectural framework. In any case, however you define it, the Metaverse market is enormous and very dynamic. Our more conservative view suggests an incremental market, excluding infrastructure, of perhaps €500 billion by 2030, with a 30%-40% growth. However, we advise caution, as some of this market represents substitution rather than genuinely new market space. If key enabling technologies are included, such as artificial intelligence (AI), Internet of Things (IoT), and blockchain, as well as the required digital infrastructure development, then the market could easily reach several trillion euros by 2030. Put simply, it promises to be the future version of the Internet, powered with new properties that will open up new usages and business models - in a similar way to how the smartphone transformed the Web.įorecasting the size of the market is difficult. The acceleration is also fueled by the confluence of key trends in user behaviors, software, and hardware development.īusinesses should not underestimate the importance and potential of the Metaverse. This acceleration is driven by the convergence of three industries: gaming collaboration and productivity tools and social media and networks. The reason it is high on the agenda today is that we are seeing a rapid acceleration of development activity and usage adoption. ![]() It is important to recognize that the Metaverse is not a new concept. In this report we have sought to provide a realistic picture for businesses, focusing in particular on the technologies that are necessary to realize the Metaverse. However, key players and consultancies have since been falling over themselves to declare its huge potential, outdoing each other with the scale of their market forecasts. At the time, many people assumed it was merely a passing trend, focused on gamers and younger audiences, with little or no relevance to them or their businesses. Maya and Iseline, 12 years old, March 2020, first lockdownįor many, the term “Metaverse” first entered their consciousness when Facebook changed its name to Meta in later 2021. "We are not on our screens we are playing hide-and-seek with our friends in Roblox."
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