According to the report, as the Metaverse continues infiltrating into everyday life, 50% of live events could be held in a virtual space, and 80% of commerce would be “impacted by something consumers do there” by 2030. At that time, every internet user would spend roughly 6 hours a day on the space.
In particular, the gaming sector will be the main driver behind the Metaverse, eclipsing the entertainment industries like music and movies. As of now, the sector has around 3 billion gamers worldwide and is valued at $200 billion.
It’s worth noting that besides gaming – the report predicted – e-commerce and virtual advertising are two major sectors that could take advantage of the Metaverse by 2030, with approximately $2 trillion to $2.6 trillion of all spending in the former one and $144 billion to $206 billion in the latter one.
In a separate blog post, the lead author of the report, Eric Hazan, revealed that the current state of the Metaverse is similar to Web 2.0 in 2004. At that time, online social networks and user-generated content were about to transform how people interacted with one another on the Internet. However, he added, the infrastructural technology was not ready to boost the “utopian visions of consumer control and the democratization of the internet.”