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The metaverse, a 5 trillion dollar opportunity

2022-06-15T09:02:59.215Z


A report by McKinsey calls on companies and public authorities to take an interest now in what promises to be the next evolution of the Internet.


Companies need to address their metaverse strategy now if they don't want to miss out on a massive source of growth for decades to come.

This is the main message of a report written by the consulting firm McKinsey around this concept brought to the fore last year by Mark Zuckerberg, the founder of Facebook, and which has since been on everyone's lips.

"

We believe the Metaverse has the potential to be the next iteration of the Internet

," the authors claim.

Since the beginning of 2022, more than 120 billion dollars have already been invested in this field by funds and companies such as Meta, Nvidia or Microsoft.

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Read also“Metaverse”, the dizzying future of the internet

But what exactly are we talking about?

The consulting firm breaks down preconceived ideas about this concept.

Accessing the metaverse will not necessarily be via a virtual reality headset or augmented reality glasses.

Metaverse is also not synonymous with Web3.

There won't be “

any

” metaverses just as there aren't “

any

” Internets.

And if online video games give a glimpse of what this future Internet could be, the uses of the metaverse cannot be limited to gaming.

According to McKinsey, the metaverse will eventually be made up of a multiplicity of mutually compatible platforms, where thousands of Internet users will interact in real time.

This transformation will be slow, but it is driven by technological advances such as 5G, edge computing, and greater simplicity in handling 3D creation tools, which will soon replace those dedicated to the development of websites and mobile applications.

Read also“Edge computing”, a new era for computing

'Too big to ignore'

According to the report, virtual universes could generate $5 trillion in economic benefits by the start of the next decade, equivalent to Japan's GDP.

"

The average Internet user could spend more than 6 hours a day in these experiences by 2030

" through gaming, connected fitness, e-commerce and social activities, says McKinsey.

"

It is plausible that in 2030, 50% of the event takes place in the metaverse

", continue the authors.

The e-commerce sector will be the most affected with a quantified impact between 2000 and 2600 billion dollars, followed by e-learning (180 to 270 billion dollars), advertising (144 to 206 billion) and video games. (108 to 125 billion).

The metaverse potential is too big to ignore

,” McKinsey points out.

Read alsoSneakers, luxury clothing, land… The already very real business of virtual universes

On the business side, the metaverse represents opportunities to improve remote collaboration, professional training but also decision-making thanks to the creation of digital twins of production plants.

It is also a golden opportunity for the tech sector, and more particularly in the fields of artificial intelligence, real-time online operations management, 3D modeling and animation, and technical infrastructure.

Read alsoUnreal, Unity: 3D engines attacking the metaverse

Companies and public authorities must prepare

According to a survey conducted by the consulting firm, 95% of executives believe that the metaverse will have a positive impact on their sector within 5 to 10 years.

McKinsey advises them to prepare now for this revolution by getting their hands dirty.

Make the effort to go to Roblox, Fortnite, Minecraft or a similar game.

Explore The Sandbox or Decentraland.

Join a Discord server or hang out on Twitch.

Go to NFT selling platforms.

Try virtual reality headsets and have meetings there.

This way, you will be better equipped to make decisions

,” the authors point out.

Among these, define metaverse strategies, launch the first experiments, but also acquire technologies and recruit talents.

Delay in addressing these issues could lead to a delay that is difficult to make up for.

Read alsoInternet: when violence invites itself into the metaverse

The report also recalls the importance of thinking now about the risks of the metaverse, in particular societal, in order to better combat them.

Among these, moderation to ensure safe spaces where Internet users will enjoy spending time;

protection of personal data and privacy;

cybersecurity;

fighting addiction and mental health damage;

and reducing the environmental impact of these energy-intensive technologies.

These emerging issues need to be addressed before they become systemic

,” the authors emphasize.

In particular, they call on public authorities to be proactive on all these issues.

Source: lefigaro

All news articles on 2022-06-15

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