Estimates of the economic impact of the Metaverse are already part of the public discourse, but the analysis group’s report, “The Potential Global Economic Impact of the Metaverse,” discusses how the Metaverse can expand its economic opportunities. We use analytical and quantitative methods to further ourselves.
According to a new report, if recruitment and growth are similar to mobile technology, Metaverse could add an estimated $ 3 trillion to the global economy in 10 years. The Metaverse estimates that sub-Saharan Africa could add a 1.8% contribution to regional GDP, or $ 40 billion.
“Assuming that the Metaverse exists today, we can contextualize the results to existing predictions of the Metaverse’s economic potential by calculating its contribution to GDP 10 years from now in dollars.
“Our model is that if the adoption of the Metaverse began in 2022, the total contribution of the Metaverse to global GDP in 2031 would be $ 3.01 trillion (measured in US $ 2015), a third of that. 1, or $ 1.04 trillion, is due to APAC. In addition, the contributions to GDP of Canada, Europe, India, LATAM, MENAT, SSA, and the United States are $ 0.02, $ 0.44, and $ 0.24, respectively. It’s $ 0.32, $ 0.36, $ 0.04, and $ 0.56 trillion, “the report said.
According to a 47-page report, global estimates are within existing forecasts, and industry analysts and observers provide broad estimates of the potential assessment of the Metaverse or the size of the market it can handle. I am.
Short-term estimates have been found to range from approximately $ 800 billion to over $ 2 trillion over the next few years. Long-term estimates range from about $ 3 trillion to $ 30 trillion before Metaverse is widely adopted, with the most optimistic estimates exceeding $ 80 trillion.
According to the report, many sources do not estimate the time it will take for the Metaverse to mature, but predict that the mature Metaverse could be a trillion-dollar industry.
The Metaverse considered today is considered by many to be the “successor” of the Internet. There is no agreed definition of the Metaverse, but it can be thought of as a vast network of interconnected and interoperable digital spaces, including immersive 3D experiences in augmented reality, virtual reality, and mixed reality. , And can be created and explored with other people who are not in the same physical space.
Some call the Metaverse the “embodied Internet.” On this Internet, individuals feel that they are actually “existing” in the experience, rather than simply seeing it through the screen.
According to the report, the expected benefits of the Metaverse are the creation of new markets and the broader economic and social impact. He explained that, like the Internet and other technologies, the shape and shape of the Metaverse will slowly materialize at first, and its potential will begin to become more concrete only when the adoption of critical masses is achieved.
In the United States, he explained that Metaverse technology is now expanding access to sports, supporting combat bias through simulation, and integrating the physical and virtual worlds in games.
In Africa, the report revealed Africa carare, called the “First South African Metaverse,” launched in October 2021. Africarare stands for Ubuntuland, a digital land, offering an immersive VR experience that includes an art marketplace.
Already, Africa’s largest mobile network operator, MTN Group, announced in February 2022 that it was the first African company to invest 144 plots of virtual land in Ubuntu and MTN to invest in the Metaverse.
