A Staggering Report Starts With Asia And Reveals The Fate Of The Metaverse
There are not many users in the Metaverse yet, but the estimates of accredited bodies continue to support that growth will be exponential, especially in terms of money to circulate in virtual reality.
The latest analysis is that of Deloitte. It is one of the largest consulting firms in the world, offering professional services in many countries.
Their estimate projects that the Metaverse could add $1.4 trillion annually to Asia’s GDP by 2035.
A fact that tells us that countries like China or India could drive the growth of the 3D world.
They estimate, in their latest analysis release, that the market for the Metaverse could reach 13 trillion dollars by 2030.
“The Metaverse is no longer science fiction. The first platforms of the Metaverse are already used by millions of people,” explained Deloitte.
THE COMPLETE STUDY
Everything is written in a report by Deloitte called:
“The Metaverse in Asia: Strategies for Accelerating Economic Impact.”
The study examines in depth 12 selected Asian economies: Hong Kong, India, Indonesia, Japan, Mainland China, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. The report adds that:
The estimated impact of the Metaverse on the GDP in Asia could be between $0.8 trillion and $1.4 trillion a year by 2035: about 1.3 – 2.4% of the overall plus a year by 2035.
All in all, stellar numbers.
“The Metaverse represents a trillion-dollar opportunity to transform the region’s major economies significantly,” said Deloitte.
Asian names will have a significant impact on how the Metaverse takes shape globally as the development of this emerging technology still remains uncertain.”
The report also examined a number of key factors required for the development of the Metaverse, including technological innovation, human training, capabilities, regulatory policies, and risks associated with privacy and cyber security.
As for training, they concluded that teachers should build computer programming skills into school curricula to provide the basic skills needed to work in the Metaverse world.
The financial services company explained again:
“The metaverse is no longer science fiction. The first platforms of the metaverse are already used by millions. In Asia, many consumers are already playing, socializing, attending concerts and purchasing items on virtual platforms such as Roblox, Decentraland, Fortnite and Asia’s Sandbox, and Zepeto.”
A LOOK AT THE WORLD’S ECONOMY IS FRIGHTENING
Estimates of the potential impact of the Metaverse’s GDP globally range from $1.5 trillion annually by 2030 to $3 trillion dollars annually by 2031.
Duleesha Kulasooriya, chief executive officer of the Deloitte Center for the Edge in Southeast Asia, made this statement:
“If you look at young people…they are the ones interacting and engaging in the Metaverse today. 60% of the world’s young people live in Asia.”
“The Metaverse is inevitable. The development of the technology stacks, human capital, and regulatory frameworks to realize Asia’s trillion-dollar Metaverse potential will benefit a wide range of industries and economic activities.”
“The potential growth and the contribution of the Metaverse could be significant globally.”
In the global Metaverse market, estimated revenues hover from $678.8 billion, up to $13 trillion annually by 2030.
Revenue going into pockets from those who designed and built the various metaverses, those who will be able to convince users the most and will have greater traffic.
Traffic will go to the companies that will be present there with their commercial activities, or other types of services.
The consumers will buy goods and services within this economy.The report also predicts that the Metaverse would become a more significant part of our lives by entering or the end of the decade. Providing new opportunities in business and society, as well as stimulating innovation, economic productivity, efficiency, and creating jobs.
COMPANIES THAT ESTABLISH THEMSELVES WILL SURVIVE AND GROW
To survive and grow in an increasingly digital world, it will be necessary to be able to renew oneself within the Metaverse.
As the user experience becomes ever more central, it will be necessary to reinvent the product and service offerings in the Metaverse ecosystem.
Exploring new forms of monetization such as micropayments, subscriptions, crowdfunding, and secondary markets will be crucial for businesses to thrive.
Businesses must be ready to face global competition by offering new personalized service models in a technologically mature and highly secure metaverse.
These changes will also have profound implications on people training. Organizations will need to ensure their employees have the right skills and competencies.
The next generation of workers will need to be competent enough to navigate an all-digital environment, with varying levels of virtual achievement.
This implies that companies must provide them with the necessary training to develop the computer skills necessary to manage and exploit the Metaverse. Only in this way will they be able to create innovative content and expand into the digital world.
The Metaverse is becoming increasingly important in the corporate and social technological landscape, offering ample opportunities for growth and development.
Businesses must commit to addressing this sea of change by offering according to consumer demand trends, investing in the right people, and providing them with the necessary training to thrive in a digital world.
Experts predict that by the end of the decade, the Metaverse will become a bigger part of our lives, with a trillion dollars in global revenue.
The future of the Metaverse is full of possibilities and Asia is playing a crucial role in its realization. The challenge will be to make the most of all the opportunities this new world offers.
Global competition for dominance between the West and East is possible. One thing is certain, the potential growth and contribution of the Metaverse could be significant at a global level.
We will follow this development with interest and how companies will be able to take advantage of all the opportunities this new economy offers.
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