The Metaverse could contribute 2.8% to global GDP in its first decade

The metaverse, the universe that combines augmented, virtual, and mixed reality, could play a critical role in global economic growth. According to a report by the Analytics Group for Economic Consulting, if the adoption and impact of the metaverse evolve in a similar way to mobile technology, it could contribute up to 2.8% to global gross domestic product (GDP) within the tenth year following its adoption.

In its first decade, the Metaverse could contribute 2.8% to global GDP

In other words, if expansion is to begin in 2022, adoption of the metaverse over the next decade could result in a $3 trillion contribution to global GDP by 2031. As with mobile technology, this innovation is expected to have far-reaching applications. term, potentially transforming many economic sectors, including education, healthcare, manufacturing, job training, communications, entertainment and retail.

The report, titled “The Potential Global Economic Impact of Metaverse,” assesses how the technology would evolve if it followed in the footsteps of previous successful innovations. It takes into account the user adoption rate as well as the impact on the GDP.

Currently, we are in the early stages of development, including the deployment of infrastructure and technologies that can support the metaverse. The extent to which the economic potential of metaverse is realized depends on the efficiency of the infrastructure and technologies developed and deployed, as well as the degree of adoption of the new technology by consumers and businesses”, warn the authors of the text. Lau Christensen and Alex Robinson.

The researchers chose mobile technology as a benchmark because of its similarity to the metaverse, in that it combines current and emerging innovations to fundamentally change global technological and economic landscapes.

The team used research on innovative technology development cycles to assess direct, indirect, catalytic and catalytic effects. These are important factors to GDP, including job creation, business expansion and economic growth.

At the same time, the report examines technologies associated with metaverses and already in use, such as Pokémon Go, a mobile game based on capturing virtual creatures. Google Maps has been integrating augmented reality for several years now.

In addition, virtual reality glasses such as the Oculus Quest 2 are mentioned, which allow not only interactive experiences in the course of the game, but also physical activities such as boxing in a completely digital environment.

On the other hand, Microsoft’s HoloLens have been in the market for a few years now, and thanks to their mixed reality proposal, they’ve enabled everything from remote training to running other types of encounters where time and place are irrelevant.

NFT and cryptocurrencies in all its forms have changed the way users interact on the network and it is also a rule that the metaverse will be getting deeper and deeper, which, as mentioned earlier, is not something entirely new but rather a concept building using existing technologies. In fact, we are talking about the Internet of the future or the evolution of communication that currently exists in the digital universe.

Technological innovations of the 20th century, such as the mobile phone, suggest that the metaverse has the potential to contribute to GDP growth, job creation, increased productivity and improved well-being. to be consumers.

However, the authors caution that for this to happen, significant progress must be made in developing and deploying the infrastructure for this technology, creating policies that support the widespread and equitable distribution and use of the metaverse, and introducing other creative innovations so that this technology will have a significant impact on the world.

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