metaverse bain & company report: Metaverse could reach up to $900 billion by 2030: Bain & Company report
The report, titled Taking the Hyperbole Out of the Metaverse, said the metaverse poses real and growing economic opportunities for businesses. Further, companies engaging in the metaverse’s early stages of development, known as the “seed stage”, over the next five to 10 years, are more likely to become the market winners.
“As the metaverse quickly evolves, we’ve already seen these type of technologies take hold within different industries,” Chris Johnson, a partner in Bain’s Technology practice, said in a statement.
He said immersive gaming platforms that already boast hundreds of millions of monthly active users are a good example.
“While it’s not immediately clear how the metaverse landscape will shift, our research shows there are five competitive battlegrounds that executives should be considering if they wish to get ahead and eventually scale. This is an ongoing journey towards more immersive and collaborative experiences, enabled by rapid improvements in the underlying technology,” Johnson added.
The battlegrounds include virtual experiences (about 65% of metaverse’s projected market size in 2030), content-creation tools (about 5% of metaverse’s market size in 2030), app stores and operating systems (about 10% of metaverse’s market size in 2030), devices (about 10% of metaverse’s market size in 2030) and computing and infrastructure (about 10% of metaverse’s market size in 2030).
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The report observed that as consumer and enterprise applications become increasingly immersive and collaborative, it’s unlikely that the metaverse will emerge as one singular platform. Instead, it said platforms with large user bases today may take steps to become increasingly immersive and engaging, while smaller, metaverse-like environments will try to attract bigger user bases. These virtual worlds are likely to remain independent silos as private companies seek to recoup their investments by utilising the value of the underlying data sets.
The report stated that hardware companies will face pressure to develop higher-performing chips, servers, and networking technologies to render high-quality graphics and reduce latency.
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