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

The metaverse, the universe that combines augmented, virtual and mixed reality, could play a crucial role in global economic growth. According to a report from economic consultancy Analysis Group, if the metaverse’s adoption and impact evolves in a similar way to mobile technology, it could be in its tenth year since its adoption begins.

In the first decade, the Metaverse could contribute 2.8% to global gross domestic product

In other words, if expansion were 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 be far-reaching. applications that will potentially transform many economic sectors, including education, healthcare, manufacturing, vocational training, communications, entertainment and retail.

The report, titled “The Potential Global Economic Impact of the Metaverse,” assesses how this technology will evolve as it follows in the footsteps of past successful innovations. It takes into account both user adoption and the effect on GDP.

“Currently, we are seeing 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 the metavers is realized depends on the efficiency of the infrastructure and technologies that have been developed and deployed. , as well as the degree of adoption of the new technology by consumers and businesses,” warn the authors. , Lau Christensen and Alex Robinson.

The researchers chose mobile technology as the benchmark because of its similarities to the metaverse, in that it combines existing and emerging innovations to radically change the global technological and economic landscapes.

The team used research into the development cycles of innovative technologies to assess direct, indirect, catalytic and stimulatory effects. These are important factors for GDP, including job creation, business expansion and economic growth.

At the same time, the report examines metaverse-related technologies already in use, such as Pokémon Go, a mobile phone 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 context of the game, but also physical activities such as boxing in a fully digital environment.

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

NFT and cryptocurrencies in all their forms have changed the way users interact on the network and are also a foundation upon which the metaverse will deepen more and more, which, as mentioned before, is not something entirely new, but rather the construction of a concept. using existing technologies. In fact, we are talking about the Internet of the future or an evolution of connectivity that currently exists in the digital universe.

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

However, the authors caution that this will require significant progress 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 for this technology. technology to have a significant impact on the world.

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