The Metaverse, which is in its early stages of development, could bring up to $3.6 trillion in additional GDP per year to the global economy by 2035. Survey commissioned by Facebook It claims to be the owner of Meta Platforms and produced by Deloitte.
Companies have started investing in augmented and virtual reality (AR and VR) technology as part of their metaverse strategy. It allows users to immerse themselves in virtual worlds and digitally overlay information on real-world images.
Economic gains can come from the technology’s use in the defense, medical, and manufacturing sectors, as well as entertainment use cases such as video games and telecommunications.
Focusing on building its Metaverse technology in 2021, Meta predicts that this technology will eventually replace mobile as the primary computing platform.
The Metaverse could contribute up to $760 billion, or about 2.4%, to US annual Gross Domestic Product (GDP) by 2035.
American companies are using Metaverse technology to create new revenue streams and improve existing revenue streams. U.S. brands and retailers have already started selling virtual versions of their products in addition to the physical goods they already sell.
American companies are using the metaverse to sell physical goods and allow customers to try before they buy in a virtual overlay.
In areas such as training employees in immersive VR, improving remote work by making online interactions more real, and creating virtual replicas to optimize physical processes, American companies are We are beginning to see signs of operational efficiency.
For example, US companies are using digital twins to optimize the design of things and buildings before they are manufactured or built, potentially saving businesses time and money.
The Metaverse could contribute C$45.3 billion ($33.88 billion) to C$85.5 billion to Canada’s annual GDP by 2035.
The European Union has the potential to increase economic opportunities by up to €489 billion ($538.29 billion) in annual GDP by 2035, or about 1.3% to 2.4% of total GDP.
The EU already has a relatively high rate of business adoption of technologies such as AR and VR, with the EU rate (10%) higher than the US (9%). Achieving a strong digital foundation is a key part of the European Commission. 10 years of digital Vision.
European retail brands are exploring ways to connect with consumers in the Metaverse. EU farmers are testing how Metaverse technology can improve their productivity. European automakers are developing VR-based systems to design and reconfigure factories and training systems to improve safety and efficiency.
The Middle East and North Africa are undergoing economic transformation and digitization, with businesses and governments in the region demanding new digital and immersive tools.
The United Arab Emirates (UAE) and Saudi Arabia (KSA) are taking the lead and investing in the Metaverse ecosystem. KSA is investing $1 billion in Metaverse-related projects, aiming to become his hub for global technology.
dubai is metaverse strategyaims to make Dubai one of the top 10 metaverse economies in the world by focusing on innovation in tourism, real estate, education, retail and government services.
Metaverse technology has the potential to bring significant benefits to the region’s economy, and KSA’s economic benefits could reach $20.2 billion to $38.1 billion in additional GDP by 2035. In the UAE, those profits could reach $16.7 billion from his $8.8 billion.
Independent analysis of last year by Deloitte Center for the Edge The Metaverse impact on Asia-Pacific GDP is estimated to be $0.8-1.4 trillion annually by 2035.
Japan, Taiwan, and South Korea all have VR industry ecosystems, and people are already learning, socializing, purchasing items, playing games, and accessing social services on virtual platforms. Several governments in the region, including South Korea and Japan, have featured the Metaverse in their economic plans.
Developing countries such as Thailand, India, and Indonesia, where VR technology is not yet widespread, are leading the world in AR technology.