Metaverse Could Contribute Up To 2.4% of US GDP By 2035, Study Shows

A study commissioned by Meta has found that the metaverse could contribute around 2.4% to U.S. annual GDP by 2035, equating to as much as $760 billion. Reuters reports: The concept of the metaverse includes augmented and virtual reality technologies that allow users to immerse themselves in a virtual world or overlay information digitally on images of the real world, according to the report by consulting firm Deloitte. Economic gains may come from the use of the technologies in the defense, medical and manufacturing sectors, plus entertainment use cases such as video games and communication, the report said. Social media giant Meta, which pivoted its focus on building metaverse technologies in 2021, has forecast the tech would eventually replace mobile as the main computing platform. In a separate report, Meta said the European Union may see an increased economic opportunity of up to 489 billion euros ($538.29 billion) in annual GDP by 2035 or about 1.3%-2.4% of its total GDP. The metaverse could contribute between C$45.3 billion ($33.88 billion) and C$85.5 billion to Canada's annual GDP by 2035, Deloitte said. Last year, a Meta-funded report estimated that metaverse adoption would contribute $3.01 trillion by 2031.

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