It's clear that the global consulting giant McKinsey believes in the Metaverse. Their Value Creation in the Metaverse study forecasts that the Metaverse could generate $5 billion in value by 2030,
They have four key reasons they think the Metaverse will become big fast.
1. There's a lot of investment going into the Metaverse. Key quote from the report:
"Corporations, VC, and PE have already invested more than $120 billion in the metaverse in the first five months of 2022, more than double the $57 billion invested in all of 2021 …."
2. Their research indicates much interest in the Metaverse. Key quote:
"Our survey of more than 3,400 consumers and executives found significant excitement about the potential of the metaverse."
3. Current market acceptance of metaverse-like services. Key quote:
"increasing marketplace readiness as users explore today's early version of the metaverse largely driven by gaming (with some games boasting tens of millions of active players) with applications emerging that span socializing, fitness, commerce, virtual learning, and others."
4. They believe that technology will soon be in place to support the Metaverse.
McKinsey thinks that companies should get aggressive with their metaverse activities in response to this opportunity. Key quote:
"Business leaders should develop a strategic stance by defining metaverse goals and the role they want to play; testing, learning, and adopting by launching initial activities, monitoring results, and examining user behavior; and preparing to scale by identifying necessary capabilities and embedding the metaverse in their operating model."
The biggest Metaverse impact, according to McKinsey, will be on ecommerce.
They estimate the metaverse "may have a market impact of between $2 trillion and $2.6 trillion on e-commerce by 2030."
They also think few industries will be untouched by the Metaverse and that most industries will be significantly impacted by the changes it brings.
The study report, which is 77 pages long, covers these topics in more detail.
