May 9 (Reuters) – The Metaverse could add up to $760 billion to U.S. annual gross domestic product (GDP) by 2035, or around $760 billion, according to a study commissioned by Facebook owner Meta Platforms (META.O). It could contribute 2.4%.
According to a report by consulting firm Deloitte, the Metaverse concept includes augmented and virtual reality technologies that allow users to immerse themselves in virtual worlds and digitally overlay information on real-world images. .
Economic gains could 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, the report said.
Social media giant Meta, which focused on building its Metaverse technology in 2021, predicts that it will eventually replace mobile as the primary computing platform.
Investors have questioned Meta’s heavy investment in the Metaverse project, and were skeptical of earnings at a time when a downturn in the advertising sector was weighing on the company’s revenue growth.
In a separate report, Meta said the European Union could see an increase in economic opportunities of up to €489 billion ($538.29 billion) in annual GDP by 2035, or about 1.3% to 2.4% of total GDP. I said yes.
According to Deloitte, the Metaverse could contribute C$45.3 billion ($33.88 billion) to C$85.5 billion to Canada’s annual GDP by 2035.
The regional projections are based on a global economic impact report Meta commissioned last year from consulting firm Analysis Group, which estimated Metaverse adoption to reach $3.01 trillion by 2031. .
($1 = 0.9084 Euro)
($1 = 1.3372 Canadian dollars)
Reporting by Akash Sriram from Bangalore and Katie Paul from New York.Editing: Shinjini Ganguly
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