The metaverse is a virtual world where users share experiences and interact in real-time within simulated scenarios. GlobalData estimates the metaverse economy will be worth $400 billion by 2030, up from $48 billion in 2022. However, the theme has struggled to live up to the excessive hype that built up in 2021 and early 2022 due to limited knowledge of the theme, unimpressed consumers, the postponing of projects by Big Tech, and concerns with privacy and security. The growth of the metaverse will depend on the maturity of underlying technologies, including AR, VR, AI, cloud, and blockchain. GlobalData provides market size and metaverse market growth forecasts for key underlying metaverse technologies and the main trends shaping the metaverse theme are classified into three categories: technology trends, macroeconomic trends, and regulatory trends.
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