Businesses' and consumers' annual global spending related to the metaverse could reach $5 trillion by 2030, according to a new report from consulting firm McKinsey & Co.
E-commerce in the metaverse will comprise some $2 trillion to $2.6 trillion of the total, while virtual advertising endeavors will make up another $144 billion to $206 billion, it said. By comparison, spending around artificial intelligence totaled $93 billion last year.
McKinsey released its new estimates for the metaverse in a study on the subject that also included the results of a survey of 3,104 consumers in 11 countries and a poll of C-level executives at 448 companies in 15 industries and 10 countries.
