August 9, 2023
(press release)
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SAN FRANCISCO—August 9, 2023—Despite recent headlines that “metaverse-hype” is dying down, new research released today by Bain & Company shows the metaverse could reach up to $900 billion dollars by 2030—though it may remain in the seed stage for at least another five to 10 years. Bain’s report, Taking the Hyperbole Out of the Metaverse, concludes that the metaverse poses real and growing economic opportunities for businesses. Companies that engage in the metaverse’s early stages of development, known as the “seed stage,” over the next five to 10 years, are more likely to become the market winners. “As the metaverse quickly evolves, we’ve already seen these types of technologies take hold within different industries,” said Chris Johnson, a partner in Bain’s Technology practice. “A good example of this is immersive gaming platforms, which are already boasting hundreds of millions of monthly active users. And while it’s not immediately clear how the metaverse landscape will shift, our research shows there are five competitive battlegrounds that executives should be considering if they wish to get ahead and eventually scale. This is an ongoing journey toward more immersive and collaborative experiences, enabled by rapid improvements in the underlying technology.” The metaverse is – and will be -- plural As consumer and enterprise applications become increasingly immersive and collaborative, Bain’s report finds it’s unlikely that the metaverse will emerge as one singular platform. Instead, platforms with large user bases today may take steps to become increasingly immersive and engaging, while smaller, metaverse-like environments will try to attract bigger user bases. These virtual worlds are likely to remain independent silos as private companies seek to recoup their investments by leveraging the value of the underlying data sets. Industries that have since exhibited the use of metaverse-type technologies include but are not limited to: entertainment, manufacturing, healthcare, education and employee training. Five key competitive battlegrounds Five key competitive battlegrounds that executives should consider if they want to gain market share in the metaverse according to Bain include: Media contacts To arrange an interview or for any questions, please contact: Katie Ware (New York) — Email: katie.ware@bain.com Gary Duncan (London) — Email: gary.duncan@bain.com Ann Lee (Singapore) — Email: ann.lee@bain.com
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