Analysts predicted the metaverse market to grow to $600 billion by 2030

Grand View Research estimates the average annual growth rate over the decade at 39,4%

10.03.2022 - 12:05

435

1 min

What’s new? Grand View Research, an analytical company, has published a report stating that the volume of the metaverse market will reach $678,8 billion by 2030. The cumulative average annual growth rate over the decade is projected to be 39,4%. The analysts believe that metaverses will become a major part of the entertainment industry in the future.

Graph of the market development

Grand View Research’s report

What is the rise in popularity of metaverses related to? Grand View Research has noted the growing demand for digital assets and the expanding possibilities of the B2B (business-to-business) and B2C (business-to-customer) business models as market drivers. The analysts expect virtual worlds to face major hacking attacks.

Many companies have already started investing and developing their projects in metaverses. Corporate giant Disney has announced plans to open a virtual theme park using augmented reality technologies. Fast-food chain McDonald’s will also launch digital restaurants.

Author: