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The potential metaverse market opportunity ranges from **** trillion U.S. dollars to trillion U.S. dollars, depending on the share of the digital economy that shifts to the metaverse and market expansion. Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together.

Metaverse applications

Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse is set to provide a space for endless, interconnected virtual communities using virtual reality headsets, augmented reality glasses, smartphone apps, or other devices. Already, several companies including Meta, Microsoft, Roblox, and Epic are investing in their versions of the metaverse

Metaverse market outlook

Development of the metaverse will require collaboration across companies, creators, and policymakers. Continued investment in product innovation and tech talent will also be needed: Meta announced plans in October 2021 to create 10,000 high-skilled jobs in the European Union over the coming years to build the metaverse. Although Facebook’s name change may appear as ownership of the metaverse at this early stage, Zuckerberg himself has stated that no one company will own and operate the metaverse. Instead, it will act as a collective space, like the internet, with openness a key feature.