The Metaverse might be worth $5 trillion by 2030, according to a new study from global consulting firm McKinsey.

According to a new study from global consulting firm McKinsey & Company, worldwide spending in the Metaverse could reach $5 trillion by 2030.

The study, which was published yesterday and is called “Value Generation in the Metaverse,” examined current adoption rates and drew on two global surveys to gain further insight. One polled 3,104 people from 11 nations, while the other interviewed a variety of company executives from 448 firms across 15 industries in 10 different countries.

The future of consumer behavior in the metaverse, according to McKinsey, is most likely going to be divided into five primary activities: gaming, socializing, fitness, commercial transactions, and remote learning.

The majority of consumers, according to McKinsey, prefer at least one activity in the virtual world over its physical counterpart, with 79% of active users having already made a purchase.

The Metaverse will have a lot of e-commerce. This is according to McKinsey, who says that by 2030, this will make up anywhere from $2 trillion to $2.6 trillion of all spending. Another $244 billion to $386 billion may be made in the worldwide virtual advertising market, according to forecasts.

According to a new study, the market value of metaverse-related technologies and infrastructure has grown by more than $120 billion in the first five months of this year, surpassing the entire sum of money invested in Metaverse technology throughout 2021 by nearly two-thirds.

In addition, the study’s lead authors and McKinsey senior partners Lareina Yee and Eric Hazan offered further comments on their research in an accompanying blog post.

“Executives often don’t agree on much,” Yee said, “but our research shows that they almost universally believe the metaverse will have a beneficial impact on their industry.”

According to the poll, almost one-quarter of CEOs anticipate that the Metaverse will contribute 15% of their company’s overall margin growth within five years. Nearly a third of executives believe that technology such as the metaverse may bring significant change to how their sector operates.

Even though most people were enthusiastic, there were still some people who were unsure about the return on investment for Metaverse experiences. A little more than one-third of all executives said they were uncertain about it.

Hazan said that brands should be excited about the opportunities awaiting them in the Metaverse, but they should also be ready to face challenges head on. In order to do this, they will need to do some serious planning.

In conclusion, Yee reiterated that the Metaverse is still in a state of flux. If you want to be successful in the future of the Metaverse, you need to have a long-term mindset, whether you are an individual creator or a big brand.