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Will the metaverse be worth $427B in five years?

On Monday, Markets and Markets Research released a report saying that it expects the metaverse market to achieve a compound annual growth rate of 47% for the next five years, taking its market size from $62B now to $427B in 2027.

That’s on a par with the global smartphone market, which is about $484B in 2022, according to Fortune Business Insights.

And McKinsey reported in June that the metaverse could reach a $5T value by 2030, and called the opportunity “too big” for companies to ignore.

Metaverse growth potential is critical to tech investors because the metaverse is supposed to be a driver of near-term innovation. I spoke last week about The Economist magazine’s doubts about big tech’s prospects. The metaverse is one area where big tech might prove them wrong.

Audio Length: 00:39:16

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