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Metaverse News Europe


Metaverse to add $3 trillion within a decade

6/16/2022

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The metaverse could contribute $3 trillion to the global GDP within a decade if it evolves in the same way mobile technology has in terms of adoption, according to new research.
The study, published by economic experts at international consulting firm Analysis Group, found that in Europe, an expansion of the virtual world could mean a contribution of 1.7 per cent - or $440 billion (€417 billion) - to the continent's economy in 10 years.
The report concludes that if the mass adoption of metaverse technology started in 2022, it would lead to a 2.8 per cent contribution to global GDP by 2031.

Akin to mobile technology, the metaverse is expected to have far-reaching applications to society: transforming economic sectors such as education, health care, manufacturing, job training, communications, entertainment, and retail.
The study adopted previous research done on breakthrough technology to properly gauge the potential of the metaverse.

Analysis was done by using prior successful technologies as a model - in terms of the rate of adoption by users and the impact on GDP - then applying that to the metaverse.
Researchers used mobile technology as an appropriate analog because of the similarities it shares with the metaverse, in particular, combining existing innovations to alter global technological and economic landscapes.

While it is still in its infancy, the metaverse in the future is envisioned to comprise an expansive network of digital spaces, enabled by other emerging tech such as argument reality, virtual reality, or mixed reality.
The analysis drew on academic literature which has studied the cycles of innovative technology, as well as publically available data relating to the adoption of mobile tech which assesses its impact.

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  • Home
  • News
  • ShortListed Companies
    • Nomination: AI Use Cases
    • Nominations
      • Top Global Event
      • Top Metaverse Platform & Virtual World
      • Top VC or Accelerator
      • Top Blockchain Developer Services Provider
      • Most Impactful Marketing Advertising Campaign
      • Most-promising Corporate VC Investment
      • Top Corporate Partnership
      • Top Legal Firm for Metaverse/Web 3.0 businesses
      • Top Avatar Design Company
      • Top Digital Twin Initiative Enterprise
      • Top Digital Twin Initiative Consumer
      • Top Cloud, Enterprise or Technology Partner
      • Top Partner for establishing early-stage presence in Metaverse
      • Most Innovative NFT Project
      • Top 3D Design Firm for Metaverse
      • Top Fashion Brand Initiative
      • Top Consumer Experience & Entertainment
      • Top Sports Brand Initiative
      • Top Enterprise Productivity initiative
      • Top Digital Payments platform
      • Most Exciting Scale-up Company
      • Top XR AR VR Firm
      • Most Exciting Hardware for Metaverse/Web3
      • Most Promising Haptics Initiative
  • 2023 Summit & Awards
    • VIP Jury
    • Agenda
    • Venue
      • Hotel Reservation
    • Tickets
      • Pay via Credit Card
  • Exhibitors
  • Contact
    • Sponsorship Options
    • FAQs
    • Brella Event App & Networking
    • 2022 Event
      • VIP Jury
      • Agenda 2022
      • Photos 2022
      • Videos 2022