Deloitte's Metaverse Study
According to the findings of a recently published study by Deloitte titled "The Metaverse in Asia: Strategies for Accelerating Economic Impact," the potential market for the metaverse in Asia is worth an estimated one trillion dollars. The research provides an in-depth analysis of the economies of 12 chosen Asian countries, including Hong Kong, India, Indonesia, Japan, mainland China, Pakistan, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The countries are listed in alphabetical order.

Deloitte's study states:

According to our calculations, the effect of the metaverse on Asia's GDP might range from $0.8 trillion to $1.4 trillion each year by 2035, which is equivalent to around 1.3-2.4% of the global GDP per year by that year.

"The metaverse offers a once-in-a-lifetime potential to fundamentally reshape key economies in the area, and it's worth a trillion dollars... "Vice versa, the Asian economies will make a meaningful impact on how the metaverse takes shape globally," Deloitte described, noting that "the development path of this nascent technology still remains uncertain." [Citation needed] "The development path of this nascent technology still remains uncertain."

The company that provides monetary services provided an explanation, saying, "The metaverse is no longer science fiction." There are now millions of people using the first generation of metaverse platforms... Many consumers in Asia are already playing video games, interacting with one another, going to concerts, and making purchases on virtual platforms like Roblox, Decentraland, Fortnite, and Asia's very own Sandbox and Zepeto.

The Deloitte study provides the following additional details:

There is a wide variety of predictions for the possible influence of the metaverse on global GDP, ranging from $1.5 trillion per year by 2030 to $3.3 trillion per year by 2031.

CNBC reported that Duleesha Kulasooriya, managing director of the Deloitte Center for the Edge in Southeast Asia, said the following: "If you look at the youths... they're the ones who are interacting and engaging in the metaverse mostly today, and sixty percent of the world's youths live in Asia."

In addition, the managing director stated, "The metaverse is unavoidable." The creation of the technology stacks, human capital, and regulatory frameworks necessary to realize Asia's potential trillion-dollar metaverse market will be beneficial to a diverse set of economic sectors and activities.

The report continues by elaborating on the idea that "the potential growth and contribution of the metaverse could be significant globally," highlighting the fact that:

Estimates of the potential size of the global market for the metaverse (in terms of revenue) range from $678.8 billion to $13 trillion per year by the year 2030.

Grand View Research was the source of the $678.8 billion estimate, while Citi Group was the source of the $13 trillion estimate. In the meantime, Goldman Sachs considers the metaverse to be an opportunity worth $8 trillion, and McKinsey thinks that the metaverse has the potential to generate $5 trillion by the year 2030.

What are your thoughts on the estimates provided by Deloitte for the metaverse? Share your thoughts with us in the section below titled "Comments."