The total market capitalization of this space is set to increase from its 2020 valuation of $41.9 billion to a whopping $1.23T by 2030. This is expanding at a compound annual growth rate of (CAGR) of 40.4% from 2021 to 2030. Not only that, some analysts estimate this space to grow and reach a valuation of $8T to $30T over the coming decade.
In this regard, I am convinced that the technological proposition put forth by the metaverse stands to revolutionize a whole host of industries. For example, a virtual 3D world is not bound by the limitations of space and time. People can work, play, and hang out with one another using their digital avatars, allowing them to attend events, and participate in activities they would not have been able to otherwise.
The market segments which could be revolutionized by the metaverse
I see the influence of the metaverse expanding into realms previously thought to be impossible. Here are a few industries that I personally believe could be revamped thanks to the influence of the Metaverse.