Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
spending on the metaverse
Tech and Marketing

McKinsey: spending on the metaverse could reach $5 trillion by 2030

28.08.2022
2 min read

Spending on the metaverse will increase significantly in the coming years

McKinsey, which provides consulting services, conducted a study on the development of the virtual reality sector. According to its data, by 2030, spending on the metaverse could reach 5 trillion U.S. dollars. This amount includes costs from both companies and users.
E-commerce will account for $2 trillion to $2.6 trillion in total spending. Businesses will spend about $114 billion to $206 billion on virtual advertising campaigns. Such sums are pretty impressive, especially when compared to current spending in other areas. For example, investment in artificial intelligence technology in 2021 was $93 billion.
The McKinsey study included 3,104 virtual space users from 11 countries and specialists from 448 companies in 10 countries working in 15 different business areas.
The metaverse is becoming popular every day. The number of users here is regularly growing, and more and more well-known brands want to provide their products and services in the virtual space. The metaverse now hosts multi-million dollar music concerts, festivals, fashion shows, and technology conferences. Here you can watch movies, take classes, learn something new, or just chat with lots of interesting people and their avatars.spending on the metaverse is growing Experts predict that the metaverse universe will soon encompass a variety of activities that people encounter almost every day:
– games;
– communication with other people, social interactions;
– sports;
– walks;
– learning.
The survey found that 79% of respondents had already made purchases in the metaverse, with 47% buying various items in games, 37% buying cosmetics for their characters, and 33% buying real goods that could be purchased through the metaverse.
McKinsey also notes an increase in the number of companies pursuing advertising strategies in the virtual space. For example, the Chipotle Mexican Grill restaurant chain has already carried out two campaigns in the game Roblox. The latter is very popular with children.
Last year, Chipotle partnered with a game developer to create a game called Boorito. As part of it, users could visit the restaurant’s virtual store, where they were given a promo code that allowed them to get a free burrito at one of the chain’s offline establishments.
This spring, Chipotle offered a game where users could make their own burritos. In return, users received game bonuses that could be redeemed for food at physical Chipotle restaurants.
The survey by McKinsey also showed that 95% of experts believe that using the power of metaverses will help their business to develop actively. They are confident that in a period of up to 10 years they will be able to see good results from implementing such a strategy.

Tags: Tech and Marketing
0
Previous Post Citigroup analysts: buying shares in Europe is more profitable than in the U.S. Next Post NGX Exchange in Nigeria adopts blockchain technology

You Might Also Like

DTC brands
Tech and Marketing
How DTC brands changed the approach to television advertising
19.05.2022
content matrix
Tech and Marketing
Content Matrix as an effective tool for promotion in social networks or through the site
18.06.2022
business neural network
Tech and Marketing
JPMorgan plans to build its own business neural network
02.10.2023
Visa automatic payments
Tech and Marketing
Visa wants to launch automatic payments with cryptocurrency
25.03.2023
local promotion and its benefits
Tech and Marketing
Local promotion: how to attract local customers
04.05.2023
digital business transformation
Tech and Marketing
Digital business transformation: how to increase efficiency
29.05.2022

Recent Posts

  • 1Margarete Steiff teddy bear
    Margarete Steiff was the seamstress who gave the world Teddy Bear
    29.11.2023
  • 2Huawei
    History of the Chinese corporation Huawei and its achievements
    27.11.2023
  • 3order block
    Order block and its use for stock exchange trading
    25.11.2023
  • 4Bahrain and the UK
    Bahrain and the UK intensify cooperation
    23.11.2023
  • 5Genesis MedTech IPO
    Genesis MedTech plans to float its shares on the Hong Kong Stock Exchange
    21.11.2023

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Margarete Steiff teddy bear
Margarete Steiff was the seamstress who gave the world Teddy Bear
29.11.2023
Huawei
History of the Chinese corporation Huawei and its achievements
27.11.2023
order block
Order block and its use for stock exchange trading
25.11.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Is the oil market waiting for another collapse of quotations: the opinion of a LUKOIL analyst?
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics