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Deloitte estimates that the Metaverse could add US$1.4 trillion per year to Asia’s GDP by 2035. The global financial services firm noted that the Metaverse market could be worth as much as $13 trillion by 2030, saying: “The Metaverse is no longer science fiction. Early Metaverse platforms are already used by millions.”
A new Deloitte report titled “Asia’s Metaverse: Strategies to Accelerate Economic Impact” estimates that the Metaverse is a trillion-dollar opportunity in Asia. The study takes an in-depth look at 12 selected Asian economies: Hong Kong, India, Indonesia, Japan, China, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
The Deloitte report states:
We estimate that the Metaverse’s impact on Asia’s GDP could be between US$0.8 trillion and US$1.4 trillion per year by 2035, roughly 1.3-2.4% of total annual GDP by 2035.
“The Metaverse presents a trillion-dollar opportunity for the region’s major economies…and vice versa, Asian economies will have a significant impact on the global formation of the Metaverse,” Deloitte describes, noting that “the The nascent development path technology remains uncertain.”
The financial services company explained: “Virtual worlds are no longer science fiction. The early metaverse platforms are already used by millions of people… In Asia, many consumers are already playing on Roblox, Decentraland, Fortnite, and Asia’s own Sandbox and Play games, socialize, attend concerts and buy merchandise on virtual platforms like Zepeto.”
The Deloitte report further details:
The potential impact of the global metaverse on GDP is estimated at $1.5 trillion per year by 2030 and $3 trillion per year by 2031.
CNBC quoted Duleesha Kulasooriya, managing director, South East Asia, Deloitte Center for the Edge, as saying: “If you look at young people…they are the ones who interact and engage primarily in the virtual world today, 60 percent of the world’s youth are in Asia.”
The managing director added: “The metaverse is inevitable. Developing the technology stack, human capital and regulatory framework to realize Asia’s trillion-dollar metaverse potential will benefit a wide range of industries and economic activities.”
Emphasizing that “the potential growth and contribution of the Metaverse could be significant on a global scale,” the report continued:
Estimates of the potential global market size (i.e. revenue) for the Metaverse by 2030 range from $678.8 billion per year…up to $13 trillion….
The $678.8 billion came from Grand View Research, while the $13 trillion estimate came from Citigroup. Meanwhile, Goldman Sachs sees the Metaverse as an $8 trillion opportunity, and McKinsey sees the Metaverse as potentially generating $5 trillion by 2030.
What do you think of Deloitte’s Metaverse estimates? Let us know in the comments section below.
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