BEIJING, May 25, 2022 (GLOBE NEWSWIRE) — The global metaverse market size is anticipated to reach a market value of around USD 1,803 billion by 2030 growing at an annual rate of above 45.8% from 2022 to 2030
The metaverse is a united virtual society where everyone can socialize, work, play, transact, and relax. The metaverse is currently in its early stages of development. However, concepts of what the metaverse is and could be are beginning to emerge.
The metaverse is projected to generate new revenue streams by giving businesses a new opportunity to promote goods and services while also allowing them to collect new forms of data generated by user interactions. However, many technological problems and societal considerations must be overcome before corporations can expect a significant return on investment for this type of business effort. Microsoft, Facebook (rebranded Meta), Nvidia, and Roblox are frequently mentioned as metaverse pioneers. These companies are known for their mixed reality research and development, and they’re currently looking into ways to monetize head tracking and other sorts of user-generated data in the metaverse. For instance, In October 2021, Mark Zuckerberg described the metaverse as an integrated internet in which the user is an active participant. According to Zuckerberg, the metaverse will be the mobile internet’s replacement, significantly changing the way people work and interact.
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