As the world of augmented and virtual reality continues to evolve, it seems that consumers are becoming more interested in exploring the metaverse. Despite a 13% decrease in global AR/VR headset shipments in 2022, according to International Data Corp, the market is expected to rebound with a 31.5% growth in 2023 and sustained growth of over 30% through 2026.
However, hardware sales may just be the beginning. Metaverse platforms CEO Mark Zuckerberg envisions a future where we all live and work in virtual reality, creating a massive market for virtual goods and services. Accenture’s recent study, released at this year’s CES in Las Vegas, adds to this vision, predicting that the metaverse could drive $1 trillion in commerce by the end of 2025.
The study surveyed 9,156 consumers and found that 55% of them want to be active users of the metaverse, while 70% want it to have an easy-to-use interface and access to a variety of applications. Surprisingly, 59% of the survey group sees the metaverse as a gaming platform, but only 4% see it solely as a gaming experience. The majority of the survey group, 70%, intend to use the metaverse for products and services in media, entertainment, fitness, retail, travel, and healthcare.
David Treat, senior managing director and co-lead of Accenture’s Metaverse Continuum business group, said in a statement, “The metaverse as a continuum of technologies and human-centric experiences will usher in the next era of our digital lives and transform all aspects of business.”
The metaverse offers a wealth of opportunities for new products and services, digital assets, business models, and the capacity to convey a sense of presence and expression. The Accenture study is a clear indication that consumers and businesses alike see the potential of the metaverse as a valuable tool for productivity and commerce.”