Source: DeloitteThe metaverse has the potential to generate an additional $800 to $1,4 trillion in Asia's gross domestic product (GDP) per year by 2035, becoming a market worth up to $13 trillion per year by 2030, according to a recent report by the international consulting firm Deloitte. .
The report, titled The Metaverse in Asia: Strategies for Accelerating Economic Impact, provides a detailed assessment of the economic opportunities presented by the Metaverse for 12 of the region's countries and territories: Mainland China and Hong Kong, India, Indonesia, Japan, Pakistan. , Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
"The potential impact of the metaverse in Asia and around the world could be significant if investments are made on fundamental and favorable factors. Although investments made over the next five to ten years may not have immediate short-term returns in production, these Investments will likely take place over a longer period as technologies mature,” according to the report.
“Using early estimates of potential investments in the metaverse from the literature, we estimate that the impact of the metaverse on GDP in Asia could be between US$0,8 trillion and US$1,4 trillion per year by 2035, or around of 1,3-2,4% of world GDP per year by 2035.1 However, the development path of this fledgling technology is still unclear”, said the consultancy.
By 2035, the impact of the metaverse on Asian economies could reach between 1,4% and 2,4% of the region's total GDP, Deloitte said.
"These impacts have ramifications across many industries, not just entertainment and gaming. Retail, e-commerce and manufacturing processes can be radically transformed. Innovations in healthcare and education will create not just economic value, but that can also improve human health. well-being and condition”, according to the study.
As a growing number of large corporations expand their online presence into the metaverse, international consulting firm McKinsey & Co. estimates that annual global spending related to the virtual world could reach $5 trillion by 2030. Gartner Inc analysis confirms that the Metaverse is the next great technological innovation. The company expects that within a few years, one in four people will spend at least one hour a day in the metaverse.
Hamza Khan, co-director of metaverse efforts at McKinsey, said, “The Rands need to get closer to their customers and the metaverse is a channel to do that. Compared to the early days of e-commerce, this time brands are much more active, much earlier.