Metaverse may be $800 billion market, next tech platform

This analysis is by Bloomberg Intelligence Senior Industry Analyst Matthew Kanterman and Bloomberg Intelligence Industry Analyst Nathan Naidu. It appeared first on the Bloomberg Terminal.

The metaverse is the next big technology platform, attracting online game makers, social networks and other technology leaders to capture a slice of what we calculate to be a nearly $800 billion market opportunity. Social, persistent, shared, virtual 3D worlds, the metaverse is the convergence of the physical and digital realms in the next evolution of the internet and social networks using real-time 3D software. It presents an opportunity for leading online entertainment and social media companies to capitalize on new revenue streams.

We’ve constructed a global metaverse theme basket to track the companies most exposed across industries. To be included, members must expect to generate a meaningful portion of revenue from platforms, experiences and transactions in virtual reality.

Metaverse could approach $800 billion tackling live events, ads
The global Metaverse revenue opportunity could approach $800 billion in 2024 vs. about $500 billion in 2020, based on our analysis and Newzoo, IDC, PWC, Statista and Two Circles data. The primary market for online game makers and gaming hardware may exceed $400 billion in 2024 while opportunities in live entertainment and social media make up the remainder.