If the metaverse evolves the way mobile technology has in terms of adoption, it will contribute $3 trillion to global GDP within ten years, according to new research.
In a new study published by economists at the international consulting firm Analysis Group, it was emphasized that the expansion of the virtual world in Europe could mean a contribution of 1.7 percent, or 440 billion dollars, to the continental economy in 10 years.
The report concluded that if mass adoption of metaverse technology begins in 2022, it will contribute 2.8 percent to global GDP by 2031.
I WILL ENTER WIDE EXTENSIVE PLACES
Similar to mobile technology, Metaverse is expected to have far-reaching applications to society. In the coming years Metaverse ‘s especially; It was stated that it will be effective in economic sectors such as education, health, production, job training, communication, entertainment and retail.
Researchers have used mobile technology as a convenient analogue because of the similarities it shares with the metaverse, particularly by combining existing innovations to change global technological and economic landscapes.
The analysis performed drew on academic literature examining the cycles of innovative technology, as well as publicly available data on mobile technology adoption and assessing its impact.
ASIAN WILL PROVIDE THE MOST BENEFITS
According to the research, the Asia-Pacific region will benefit the most from the Metaverse, with 2.3 percent to $1.04 trillion, if adopted in 2022.
The region with the lowest contribution was Canada, with 0.9 percent of GDP ten years later, equal to $20 billion.
TRILLION DOLLAR SOCIAL MEDIA
Mark Zuckerberg, CEO of Facebook, announced the term “metaverse“ to the public last year, changing the company name to “Meta”. Zuckerberg announced that this is the future of both the internet and the trillion-dollar social media company.
In previous years, other companies such as Roblox, Nvidia, and Microsoft were also building virtual worlds with virtual or augmented reality technology. But critics have warned that the rapidly evolving technology could do potential harm, especially on issues such as privacy, data hacking, desensitization and other health concerns.
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