Meta, formerly known as Facebook, has sponsored a study claiming that the metaverse has the potential to overtake mobile phones as the primary computing platform.
This technology and its surrounding technologies, VR and AR, could contribute up to 2.4% of the United States' Gross Domestic Product (GDP) by 2035. The total global economy could see an estimated boost of up to $3.6 trillion per year by 2035.
A Revolutionary Computing Platform
The Metaverse is an emerging computing platform that is a fully immersive virtual reality experience.
According to a study backed by Meta, the company that hopes to have an ultimate global monopoly within the next twelve years, the metaverse and its surrounding technologies, VR and AR, could become the primary computing platform by 2035.
This technology has the potential to revolutionize the way people work, socialize and entertain themselves.
A Massive Boost to the Global Economy
According to the same study, the metaverse has the potential to contribute $760 billion to the United States' GDP by 2035.
The EU could see an estimated boost of $538.29 billion, or 1.3-2.4% of total GDP.
Canada, on the other hand, could get a boost of $33.88 billion to its economy within the same time frame. This means that the global economy could reach up to $3.6 trillion per year in additional GDP by 2035 with the help of the metaverse.
The report also explains that the estimate of the potential contribution of the metaverse to GDP does not take into account population growth and is therefore likely to underestimate the actual potential contribution.
However, the studies cited in this article are backed by Meta, which has a vested interest in promoting the metaverse and its surrounding technologies.
Operational Efficiency in Various Areas
The report also notes that US companies are starting to see signs of greater operational efficiency in areas such as immersive VR employee training, improved remote working, and other applications of the metaverse.
This technology could be used in various industries, including manufacturing, medical and defense technology, not just for video games and entertainment purposes.
Conclusion
While the claims made by Meta-backed studies about the potential of the metaverse to contribute to the global economy might sound too good to be true, it is evident that this emerging technology has the potential to revolutionize computing platforms.
As businesses around the world start to invest in the metaverse, the technology will continue to evolve, and its potential for growth will increase.
As with any new technology, there are both opportunities and challenges that come with it, and it remains to be seen how the metaverse will shape the future of the global economy.
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