Metaverse Could Add $1.4 Trillion to Asia’s GDP Annually – Metaverse Bitcoin News

Deloitte estimates that the Metaverse could add US$1.4 trillion per year to Asia’s GDP by 2035. The global financial services firm noted that the Metaverse market could be worth as much as $13 trillion by 2030, saying: “The Metaverse is no longer science fiction. Early Metaverse platforms are already used by millions.”

Deloitte’s Metaverse Research

A new Deloitte report titled “Asia’s Metaverse: Strategies to Accelerate Economic Impact” estimates that the Metaverse is a trillion-dollar opportunity in Asia. The study takes an in-depth look at 12 selected Asian economies: Hong Kong, India, Indonesia, Japan, China, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.

The Deloitte report states:

We estimate that the Metaverse’s impact on Asia’s GDP could be between US$0.8 trillion and US$1.4 trillion per year by 2035, roughly 1.3-2.4% of total annual GDP by 2035.

“The Metaverse presents a trillion-dollar opportunity for the region’s major economies…and vice versa, Asian economies will have a significant impact on the global formation of the Metaverse,” Deloitte describes, noting that “the The nascent development path technology remains uncertain.”

The financial services company explained: “Virtual worlds are no longer science fiction. The early metaverse platforms are already used by millions of people… In Asia, many consumers are already playing on Roblox, Decentraland, Fortnite, and Asia’s own Sandbox and Play games, socialize, attend concerts and buy merchandise on virtual platforms like Zepeto.”

The Deloitte report further details:

The potential impact of the global metaverse on GDP is estimated at $1.5 trillion per year by 2030 and $3 trillion per year by 2031.

CNBC quoted Duleesha Kulasooriya, managing director of Southeast Asia at the Deloitte Edge Center, as saying: “If you look at young people…they are the ones who interact and engage primarily in the virtual world today, 60 percent of the world’s youth are in Asia.”

The managing director added: “The metaverse is inevitable. Developing the technology stack, human capital and regulatory framework to realize Asia’s trillion-dollar metaverse potential will benefit a wide range of industries and economic activities.”

Emphasizing that “the potential growth and contribution of the Metaverse could be significant on a global scale,” the report continued:

Estimates of the potential global market size (i.e. revenue) for the Metaverse by 2030 range from $678.8 billion per year…up to $13 trillion….

$678.8 billion comes from Grand View Research, while an estimate of $13 trillion comes from Citibank group. at the same time, Goldman Sachs see the metaverse as an $8 trillion opportunity, and McKinsey It is believed that by 2030, the metaverse can generate 5 trillion US dollars.

What do you think of Deloitte’s Metaverse estimates? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

image credits: Shutterstock, Pixabay, Wiki Commons

disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer to buy or sell, nor is it a recommendation or endorsement of any product, service or company. bitcoin network No investment, tax, legal or accounting advice is provided. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.

Source link