The value of metaverse-related market activity could hit $2 trillion in global revenues by2030, but there is a risk of developers missing out on lucrative opportunities if the ecosystem fails to implement standards, encourage interoperability and educate consumers. This is according to a new report from analyst company ABI Research.
Speaking on the findings, ABI Principal Analyst, Michael Inouye, told TelecomTV that metaverse-related developments in the streaming video, social media, gaming and digital advertising sectors will be the bedrock of the total addressable market(TAM) for the consumer metaverse, playing a key role in the development of the immersive virtual world.
He argued that the metaverse is underpinned by established trends in the digital content realm rather than the notorious rebranding of Facebook to Meta and, therefore, growth in these markets will be a foundation for the metaverse.
And, if trends within these well-established markets continue, the metaverse is set for significant gains in the consumer space, according to the analyst.