By 2026, 30% of the world's organizations will have goods and services in the Metaverse, as per the report, with brands already prepping to make their rights in the digital space.
According to new research, by 2026, 25% of individuals would spend at least one hour daily in the Metaverse for working, shopping, learning, networking, and enjoyment.
As shown in a report released on Feb. 7 by technology research and consulting firm Gartner, brands are already developing systems to enable their users to digitally recreate their lives in expectation of this shift to the Metaverse.
Gartner Vice President Marty Resnick thinks that companies will have to unite to integrate the Metaverse as their users continue to expect virtual, engaging, three-dimensional experiences.
He also explained, “from attending virtual classrooms to buying digital land and constructing virtual homes, these activities are currently being conducted in separate environments.”
He thinks that by 2026, 30% of the world's businesses will have goods and services in the Metaverse.
“Eventually, they will take place in a single environment – the metaverse – with multiple destinations across technologies and experiences.”
The global Metaverse market is expected to reach about $42 billion by 2026, according to research firm Strategy Analytics. Though, as per a November report by Grayscale, the overall valuation could perhaps exceed a trillion dollars in the upcoming years. Between January 2020 and June 2021, the number of active Metaverse users jumped tenfold.
In any way, Terra Virtua co-founder and CEO Jawad Ashraf stated that the research shows that the Metaverse will transform the way people engage with virtual environments, anticipating that it will become a spot for social events, business meetings, gaming events, music concerts, and much more.
“It may be too early to predict exactly what the metaverse will become, but what we do know is it will open up completely new experiences and enhance our lives."
Renick advised businesses and investors to move carefully, citing the fledgling and dispersed adoption of metaverse technologies. "It is still too early to know which investments will be viable in the long term," he said.
“Product managers should take the time to learn, explore and prepare for a metaverse in order to position themselves competitively.”