Metaverse Revolution: Investigate the recent growth of attention towards the Metaverse: this is the objective of the study “The Corporate Hitchhiker’s Guide to the Metaverse”, published by Boston Consulting Group (BCG).
Microsoft is betting $70 billion on a meta future by planning, among other things, the acquisition of Activision Blizzard; venture capital funds have poured nearly $25 billion into cryptocurrency-related investments in 2021, and Facebook, renaming itself after Meta Platforms, has promised to invest $10 billion in the “Reality Labs” operation this year. In a technological boom like the current one, the progressive diffusion of the Metaverse finds great curiosity on the part of the users of numerous companies.
It starts from the necessary identification of the three main components from which it is born:
- The Metaverse Worlds, or even m-worlds, in which hundreds of millions of users are found.
- The tools are necessary to live the immersive experience of augmented reality (AR, VR and MR).
- Virtual assets are objected to be acquired and exchanged thanks to the third generation of the internet, which today allows the construction of semantic and decentralized online services, guaranteeing more security, greater privacy and greater control over one’s contents and activities (the so-called Web3).
How much will the market be worth in 2025?
Growing investments and the progressive diffusion of metaverses, combined with technological advances in AR.
VR and MR, and the expansion of blockchain-enabled Web3 assets, are leading several companies to a first phase of familiarization with this new reality. To deepen the range of commercial opportunities, it can offer in different sectors.
Companies today can evaluate how to participate in the construction of the new infrastructure, monetize the contents and virtual assets present on it, create B2B/B2C content or new contact experiences with customers, partners and employees (such as showrooms for customers, virtual conferencing and remote collaboration solutions), thus also aligning itself with the curiosities of a relevant audience of both existing customers and potentially interested parties (such as Gen Z consumers).
A further topic of attention is the growth of the metaverse market expected for the next few years. The BCG analysis estimates a value between 250 and 400 billion dollars by 2025.
Between possibilities and risks: which scenarios?
The market is mainly composed of 4 elements: the virtual asset economy, whereby an increasing number of virtual goods will be created by individual users and traded between users and companies (it is expected that the transaction value for virtual assets, given their volatility, will be between 150 and 300 billion dollars by 2025); the nearly $50 billion augmented, virtual and mixed reality (AR/VR/MR) hardware and software market to be evenly split between consumer and enterprise buyers by 2025, a testament to the productivity gains from by the increase in AR/VR; finally, from the network and cloud infrastructure, and IT and communication infrastructures.
“The convergence of elements that make up the Metaverse is set to continue. Definitely within the individual projects, probably even beyond, towards a complete vision which, however, lacks a decisive piece: the interoperability between the worlds so broad as to make them a continuum”, underlines Antonio Faraldi, Managing Director and Partner of BCG.