Metaverse could reach up to $900 bn by 2030: Report

Despite reports that the “metaverse-hype” is slowing down, the metaverse could reach up to $900 billion by 2030, a report said on Thursday. According to new research by Bain & Company, companies that engage in the metaverse’s early stages of development, known as the “seed stage”, over the next five to 10 years, are more likely to become the market winners. “As the metaverse quickly evolves, we’ve already seen these types of technologies take hold within different industries,” Chris Johnson, a partner in Bain’s Technology practice, said in a statement. “A good example of this is immersive gaming platforms, which are already boasting hundreds of millions of monthly active users. And while it’s not immediately clear how the metaverse landscape will shift, our research shows there are five competitive battlegrounds that executives should be considering if they wish to get ahead and eventually scale,” Johnson added. The report also revealed that it is unlikely that the metaverse will emerge as one singular platform. “Instead, platforms with large user bases today may take steps to become increasingly immersive and engaging, while smaller, metaverse-like environments will try to attract bigger user bases,” it mentioned.