Don’t let the lack of metaverse knowledge among people fool you; the industry is about to explode. According to analysts spending in the metaverse gear could reach over $50 billion in 2030.
However, the larger metaverse commerce ecosystem could fuel over $1 trillion by 2025. According to Accenture, the number is optimistic, but there is growing interest among investors in the Metaverse that goes beyond gaming and NFTs.
Meta is at the helm of a $1 trillion industry, with its VR and AR gear accounting for more than 80% of sales in the total. As a result, Meta is in a particularly good position to seize advantage of the industry and land a big payday.
Meta is focusing its efforts on becoming the biggest player in the industry by owning the platform of the future. Expensive gadgets are good for business, and the oculus headsets will be the same. However, looking at previous companies, such as Apple, a full ecosystem business model is good for tech companies.
Apple has a significant market share from its full ecosystem consisting of a platform and many devices. In addition, apple has paid over $250 billion to developers since 2008, indicating that their revenues are sky-high to the billions.
The potential of Meta in Metaverse
Apple only accounts for a fraction of the mobile phone industry, with other big players focusing on Android and newer operating systems. Either way, this data shows that Meta is sitting on a gold mine that could be profitable soon.
The company’s goal is to build a metaverse that is a decentralized, open, and inclusive virtual world where anyone can create, share and monetize their own virtual experiences. The potential of the Metaverse for Meta, the company, is significant as it is a rapidly growing industry.
According to Beinsure, the virtual reality market is expected to exceed $400 billion by 2024, with the Metaverse being a major growth area. In addition, the Metaverse platform allows users to monetize their virtual spaces and experiences, which can provide a new revenue stream for the firm.
There are also other potential opportunities for Meta in the Metaverse, such as Virtual reality commerce, Virtual real estate, Virtual events and gatherings, and a virtual job market, which could be a potential source of revenue for the company.
Potential for Advertising
Advertising is another avenue for the company to reach the insane $1 trillion expectation. When users are utilizing a platform, it opens up new avenues for advertising by utilizing user data. Meta is already a titan in the advertising industry, and monetizing its Metaverse software and hardware should not be a problem.
As a result, Meta may soon start making insane profits as people learn more and more about the Metaverse and adapt it.
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