The metaverse is no longer a made-up story since it is inching closer and closer to being a real place. According to the paper, there are currently millions of people using the many platforms that make up the metaverse.

The Deloitte Metaverse Report Has Been Published.

The international financial services company just published a metaverse report lately. This research does an analysis of the economic effects that the metaverse has had on Asia.

In addition, the study reaches the conclusion that the market for virtual worlds is worth one trillion dollars and has significant growth potential in Asia.

We estimate that by the year 2035, the impact of the metaverse on Asia's gross domestic product could be anywhere from $0.8 to $1.4 trillion annually. According to what was said in the research, "this is around between 1.3 to 2.4% of total GDP yearly by 2035."

Deloitte has acknowledged that the development path of the metaverse is still unclear, despite the fact that the metaverse presents a vast array of opportunities.

The company believes that the metaverse is moving closer and closer to becoming a reality. Platforms such as Fortnite, Sandbox, Roblox, Zepeto, and Decentraland already provide millions of users with the opportunity to take advantage of various metaverse features.

People gather on these platforms to watch concert shows, shop for virtual items, engage in social activities, and play video games.

In addition to this, the report stated that the global GDP estimate of the metaverse is somewhere between $1.5 trillion in 2030 and approximately $3 trillion by 2031 on an annual basis.

It Is Impossible to Escape the Metaverse – Kulasooriya

According to Duleesha Kulasooriya, the Managing Director of the Deloitte Center for the Edge in Southeast Asia, the youngest demographic is the one that makes up the largest proportion of metaverse users. In addition to this, he disclosed that more than sixty percent of them are located in Asia.

In addition to this, the MD mentioned that "the metaverse cannot be avoided." Kulasooriya made the observation that it is necessary to construct regulatory frameworks, human resource infrastructures, and technological stacks for the metaverse.

These would assist Asia in materializing its future metaverse market, which is projected to be worth one trillion dollars, and would benefit a wide variety of economic sectors and activities.

In addition, the research continues by providing further explanation of the concept that "the potential expansion and input of the virtual world might be enormous internationally."

In addition to this, the potential size of the global market for the metaverse has been estimated in a number of different ways. The estimates range anywhere from 678.8 billion dollars to 13 trillion dollars annually by the year 2030.

The figure of $678.8 billion was derived from research conducted by Grand View Research, whereas the figure of $13 trillion was derived from research conducted by Citi Group.

In the meantime, McKinsey estimates that the value of the metaverse could reach over $5 trillion by the year 2030. This figure is based on their projections. On the other hand, Goldman Sachs estimates that the metaverse will be worth $8 trillion within the same time period.