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By 2030, the global metaverse market could potentially be valued $900 billion


Microsoft

By 2030, the global metaverse market could potentially be valued $900 billion

Microsoft and Nvidia are already working on metaverse platforms for digital collaboration.

According to projections, the metaverse might have a market value of $700 billion to $900 billion by 2030. Predicting the metaverse's future is difficult, but there is no doubt that embracing the technology will be a huge economic opportunity. The year 2023 will set the metaverse's path for the next decade.

Technology for augmented reality (AR) and virtual reality (VR) will continue to progress. One thing to keep an eye on is the job climate in the metaverse. It is anticipated that by 2023, we will have more immersive meeting venues where we can discuss, brainstorm, and co-create. Indeed, Microsoft and Nvidia are already working on metaverse platforms for digital collaboration.

In the coming year, we'll also witness more advanced avatar technologies. An avatar—the presence we project in the metaverse as we interact with other users—could appear exactly as we do in real life, and motion capture could even allow our avatars to adopt our own body language and gestures. We may also see advancements in AI-enabled autonomous avatars that can operate as our representatives in the metaverse even when we are not signed in.

As interest in the metaverse grows, more business leaders are embracing the technology and anticipating practical uses for their organizations. According to a recent poll, more than two-thirds of global corporate executives anticipate that technology will be a significant game changer within the next ten years.


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