Most of the headlines over the past six months have been dominated by some form of artificial intelligence (AI). Meanwhile, the “hype” surrounding other emerging technologies, including the Metaverse, seems to have subsided.Nevertheless, the metaverse could reach up to $900 billion by 2030, according to a new study recently published by a management consulting firm. bain and company.
Bain & Company report, Remove hyperbole from the metaverseconclude that the metaverse presents real and growing economic opportunities for companies. Companies that engage in the early stages of metaverse development, known as the “seed stage” over the next five to 10 years, are likely to be market winners.
The company predicts that Metaverse could be worth $900 billion by 2030, but also explained that it could remain in seed stage for at least another five to 10 years.
chris johnsona partner in Bain’s technology practice, said of the evolution of the Metaverse:
“A good example is an immersive gaming platform that already boasts hundreds of millions of monthly active users. It is not immediately clear how things will change in the metaverse, but our research shows that executives Here are five playing fields to consider if you want to stay ahead of the curve and ultimately scale. This is an ongoing effort to achieve this goal.”
Various metaverse strategies
As consumer and enterprise applications become increasingly immersive and collaborative, Bain’s report found that the Metaverse is unlikely to emerge as one single platform.
Instead, platforms with large user bases today are taking steps to become more immersive and engaging, while smaller, metaverse-like environments seek to attract larger user bases. You will. These virtual worlds are likely to remain independent silos as private companies seek to leverage the value of the underlying datasets and recoup their investments.
Moncef MaghrebiThe partner at Bain & Company Middle East explained the various metaverse strategies: It is on a single layer of the stack.
“It remains to be seen which will prove most effective as the market develops and the shape of the ecosystem (vertical or horizontal) may evolve over time.”
Five important metaverse areas to consider
In the report, Bain & Company also examines five key areas for executives to consider if they want to increase market share in the Metaverse. These areas include:
Bain predicts that virtual experiences will represent approximately 65% of the Metaverse’s projected market size in 2030. Despite the fact that gaming currently leads consumer Metaverse applications, immersive fitness and entertainment may also be attractive in the medium term.
On the enterprise side, innovative use cases are emerging primarily in collaboration and productivity, but also in digital marketing, employee training, education, and healthcare.
App store and operating system
It is expected to account for approximately 10% of the Metaverse market size in 2030. The role of app stores is critical during the seeding stage of the Metaverse, providing a curated, high-quality experience that keeps users engaged with the platforms and headsets they use to access them. Metaverse.
It will also account for approximately 10% of the Metaverse market size in 2030. Significant technological barriers must be overcome before comfortable standalone devices that enable truly immersive experiences can be achieved. To achieve mass adoption, Metaverse content will need to work on all types of devices in the near future, including personal computers, game consoles, and smartphones.
Computing and infrastructure
Another important area is computing and infrastructure, which could account for 10% of the metaverse market size in 2030. Hardware companies will face pressure to develop higher-performance chips, servers, and networking technologies to render higher-quality graphics and reduce latency.
Content creation tools
It will account for approximately 5% of the Metaverse market size in 2030. There is a growing field of software tools that provide the building blocks, editing platforms, and interfaces for creating metaverse worlds and experiences. These features allow users to easily generate content.