New McKinsey & Company research shows that the Metaverse could be worth $5 trillion by 2030

New York, London and Paris, June 15, 2022 (Globe Newswire) – McKinsey & Company She published her new report entitled ” Creating Value in Metaverse (creating a value in the metaverse), which indicates that the metaverse may be too important to ignore. Initial projections from McKinsey show that the metaverse has the potential to grow up to $5 trillion in value by 2030. It shows that e-commerce is the most important economic force ($2.6 trillion), ahead of sectors such as e-learning ($270 billion) and advertising ($206 billion) and gaming ($125 billion).

As businesses of all shapes and sizes seek to enter the metaverse, this detailed report provides clear insight into what the metaverse is and doesn’t, what the leaderboards are doing, and what fuels investment and potential for consumers and B2B businesses.

The report is based on numerous proprietary insights and analyzes, including a survey of more than 3,400 consumers and executives about metaverse adoption, its capabilities, and potential impact on behavior. The researchers also conducted interviews with metaverse builders and industry experts.

“The Metaverse represents a strategic inflection point for companies, and represents an important opportunity to influence the way we live, communicate, learn, innovate and collaborate,” said Eric Hazan, Managing Partner of McKinsey & Company. “Our ambition is to help leaders in consumer and B2B businesses better understand their strength and potential, identify strategic imperatives and act as a force for their evolution.”

What fuels investing in Metaverse
Already this year, corporations, venture capital firms, and private equity firms have invested more than $120 billion in the metaverse, more than double the $57 billion invested throughout last year.

There are several factors that stimulate investor enthusiasm:

  • Continuous technological developments in the infrastructure necessary to operate the metaverse
  • demographic headwinds
  • Marketing and engagement increasingly driven by the consumer
  • Increased market availability as users explore the current version of the metaverse, which is largely focused on gaming, while applications emerge in the areas of socializing, fitness, commerce, virtual learning, and other uses.

Already, more than three billion players worldwide have access to different versions of the metaverse.

“Although the idea of ​​connectivity has been developing almost for decades, it is now increasingly realistic, meaning real people are using it and spending real money and companies are betting big,” said Larina Yee, Senior Partner at McKinsey & Company. But with such increased interest, it has been difficult to separate the hype from the reality. It should be noted that despite the reversal of the first tech bubble boom that led to the disappearance of dozens of companies, the Internet itself continued to grow in size, giving rise to new entrants. »

Consumers are already dealing with the metaverse
The consumers are already there. McKinsey’s research shows that consumers are excited about switching from life to the metaverse, with six in ten (59%) consumers preferring at least one metaverse experience over a physical alternative.

Among these consumers, certain types of activities stand out for their preference in the immersive world:

  • Purchases and purchases of physical or virtual goods (79%)
  • Participation in virtual social events or social games (78%)
  • VR training (76%)

Senior executives believe the metaverse will have a huge impact on their industry
Business leaders see the potential of the metaverse to drive impact and margin growth. 95% of CEOs say they expect the Metaverse to have a positive impact on their industry within five to 10 years, with 31% saying that Metaverse will fundamentally change the way their industry operates. Importantly, a quarter of CEOs expect metaverse technology to drive more than 15% of their organization’s total margin growth over the next five years.

“We have put the metaverse on the cusp of the next wave of digital disruption,” said Tarek El-Masry, senior partner at McKinsey & Company. “It is transformative. This is likely to have a significant impact on our business and personal lives, which is why businesses, policy makers, consumers and citizens may want to explore and understand this phenomenon, and the technology that underpins it. The implications it can have on our economies and our society as a whole.”

For more information and to read the full report, please click over here.

About the report
McKinsey surveyed more than 3,400 consumers and CEOs in Asia Pacific, China, Europe and the United States to better understand the habits of current metaverse users, including their motivations, what they do and what they do. They hope to do. By analyzing the value creation potential and overall investment landscape of metaverse, we looked at drivers of activity among large companies, as well as venture capital and private equity funds. We have examined the potential impact of the metaverse on industries most closely related to its technology and uses, supplementing our work with additional research, case studies, and real-world examples. The report also includes an in-depth analysis of five sectors: apparel, fashion and luxury. packaged consumer goods; financial services; selling by pieces; Communications, Media and Technology.

About McKinsey & Company
McKinsey & Company is a global management consulting firm committed to helping organizations achieve sustainable and inclusive growth. We work with clients from the private, public and social sectors to solve complex problems and create positive change for all stakeholders. We combine bold strategies with transformative technologies to help organizations innovate more sustainably, achieve lasting performance gains, and build the workforce that will thrive in this generation and beyond.

About Growth, Marketing and Sales, McKinsey & Company
a task McKinsey Growth, Marketing and Sales is to help leaders in consumer and business-to-business customers achieve significant growth through purposeful transformation and marketing-driven profits. This practice helps its clients define their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today’s omnichannel opportunities. Clients benefit from McKinsey’s expertise in key areas of growth, marketing and sales such as growth strategy, branding, customer insights, ROI, marketing, digital marketing, CLM, pricing, sales, and channel management.

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