Metaverse to possibly create $5T in value by 2030: McKinsey report

The success of metaverse will rely on a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users and citizens.

While the 2022 bear market grazed off the excitement around the budding crypto sub-ecosystems such as nonfungible tokens (NFTs), the metaverse remains well-positioned for long-term disruption. Considering the myriad consumer and business-centric use cases the metaverse could cater to, a McKinsey & Company report highlights the technology’s potential to generate up to $5 trillion in value by 2030.


For the metaverse to reach its full potential, the report highlighted the need for four technology enablers — devices (augmented reality/virtual reality, sensors, haptics, and peripherals); interoperability and open standards; facilitating platforms; and development tools. However, the success of the metaverse is weighed by a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users and citizens.

To date, metaverse initiatives around marketing, learning and virtual meetings have seen the highest adoption level across various industries. But a majority of initiatives around the metaverse have seen low to medium adoption, according to a survey of senior executives conducted by McKinsey in April.

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