Global spending on the meta universe could reach $5 trillion by 2030, according to a new report by the international consulting firm McKinsey & Company.
The firm conducted two surveys: in the first, the firm collected data from 3,104 consumers from 11 countries; in the second, it surveyed a number of executives from 448 companies and 15 industries in 10 different countries.
McKinsey analysts suggest that future consumer behavior in the meta-universe is likely to be divided into five main activities: gaming, socializing, fitness, commerce and distance learning.
According to the study, e-commerce will be the industry’s main cash cow.
The company predicts that e-commerce will account for between $2 trillion and $2.6 trillion of all spending in the industry by 2030. In turn, virtual advertising will become another of the most important sectors of the industry, and the associated revenue from it could range from $144 billion to $206 billion.
Despite the current pessimism in the traditional cryptocurrency market, the report highlights that in the first five months of this year, more than $120 billion has already been invested in technology and infrastructure related to the meta universe. Notably, the entire 2021 investment totaled only $57 billion.
According to the study, 25% of all CEOs anticipate that the meta-universe will drive 15% revenue growth for their organizations within five years. In addition, nearly a third of them believe that the meta-universe could lead to significant changes in the way businesses operate.