Metaverse is a virtual world or collection of virtual worlds that exist in a common digital space. Users can access this space over the internet. Global metaverse revenue will stand at $490 billion in 2030, according to Statista.
The big revenue drivers for metaverses were e-commerce and gaming. Metaverses also offer new revenue generation opportunities such as education, entertainment, health and fitness, and even telecommuting.
Global retail e-commerce sales surpassed $42 billion in 2020. E-commerce can grow to more than $200 billion by 2030.
The next biggest income streams for metaverse are health, fitness, work, and education. Nearly two- third of the world’s population is online today. Internet access and availability differ significantly depending on the region. Service quality is better in countries with developed infrastructure. The average daily time spent with the internet per capita is increasing every year. In 2021, users spent an estimated 192 minutes a day online, mostly via smartphone. Mobile internet accounts for almost 57 percent of all web traffic. On average, Internet users spend over 140 minutes daily on social media.
Metaverse can leverage this fact to add new revenue streams.
