The 80 trillion Metaverse market Meta and Apple went crazy

Recently, Meta commissioned a consulting firm to write a Metaverse white paper, predicting that the Metaverse market could reach $80 trillion. Meta CEO Zuckerberg believes that Meta and Apple are in a very deep philosophical competition in building the Metaverse.

Recently, Meta commissioned an international economic consulting firm, Analysis Group, to write a Metaverse white paper .

The 80 trillion Metaverse market Meta and Apple went crazy

According to the report, if the Metaverse technology is adopted from 2022, it will contribute US$3.01 trillion to global GDP by 2031, of which one third (US$1.04 trillion) will come from the Asia-Pacific region.

The report mentioned that industry analysts predict that the market size of the Metaverse will reach $800 billion to $2 trillion in the next few years.

When the Metaverse is widely adopted, the market size of the Metaverse will be between $3 trillion and $30 trillion, and the most optimistic estimate can exceed $80 trillion.

Because emerging technologies such as the Metaverse are not yet in widespread use, and the Metaverse has many similarities with mobile devices, Analysis Group used the development of mobile devices to compare the development of the Metaverse to assess the economics of the Metaverse influences.

The 80 trillion Metaverse market Meta and Apple went crazy

Contribution of the Metaverse to global GDP over the next decade

Analysis Group concluded from the analysis:

Assuming that the market starts using Metaverse technology from 2022, and that Metaverse technology develops in a similar way to mobile devices, 10 years from now, the GDP generated by the Metaverse will account for 2.8% of global GDP;

By 2031, the Metaverse’s total contribution to global GDP will reach $3.01 trillion, with a third ($1.04 trillion) coming from the Asia-Pacific region.

compete with apple

Faced with such an astonishing market in the Metaverse, tech giants are gearing up to fight for territory.

Zuckerberg believes that Apple and his company are in a very deep philosophical competition in building the Metaverse .

The 80 trillion Metaverse market Meta and Apple went crazy

According to The Verge: Meta CEO Mark Zuckerberg has told his employees that they are competing with Apple todetermine which direction the internet should take .

The 80 trillion Metaverse market Meta and Apple went crazy

Zuckerberg has been pushing the concept of interoperability in the Metaverse since rebranding Facebook to Meta .

Recently, Meta, in cooperation with Microsoft and others, established the Metaverse Open Standards Group.

The idea is to spur the creation of open protocols that allow people to easily travel through the immersive 3D worlds of the future with their virtual products .

Apple wasn’t part of the group, but Zuckerberg doesn’t think it’s surprising.

He believes that the hardware and software that Apple has built already works perfectly on the iPhone, and for the Metaverse, it’s unclear which one of the open and closed ecosystems would be better.

All signs point to the imminent release of a high-end Apple headset that will blur the full immersion of VR with AR experiences overlaid on the real world .

Meanwhile, Meta plans to release a similar headset later this year called the Cambria, while also preparing to launch the first real AR glasses.

The 80 trillion Metaverse market Meta and Apple went crazy

The rivalry between the two tech giants has already begun.

Regarding the competition with Apple, Zuckerberg said:

Apple will be our competitor, not only in product but also in concept.

We are approaching this in an open way and trying to build a more open ecosystem.

We’re hard at work on the Metaverse, where you can bring virtual products from one world to another.

In fact, it is still unclear which one is better, an open or closed ecosystem.

Take mobile phones, although there are more Android devices than iOS devices, Zuckerberg believes:

In developed countries and the United States, Western Europe and other places, high-end users and developers will be more inclined to iPhone and iOS.

So, in the mobile space, Apple has really carved out a good position for itself, which is why they are the most valuable company in the world, or maybe one of the two most valuable companies in the world.

At the same time, Zuckerberg also stated that he does not think the future of the Metaverse is here. He believes part of their job is to continue doing leading-edge research.

They basically deliver the equipment at cost, or in some cases slightly above cost. Their business is not primarily geared towards premium equipment . They want as many people as possible to be there to interact.

Zuckerberg thinks Apple will be a very formidable competitor.

” It’s not just because their devices have more features than ours, ” he said . It will also be a profound philosophical contest over where the Internet is headed.

There is no doubt that what we are about to witness is a contest of philosophy and ideas.

References:

https://www.theverge.com/2022/7/26/23279478/meta-apple-mark-zuckerberg-Metaverse-competitionhttps://www.cnbeta.com/articles/tech/1296749.htm#cb-lightbox

https://www.analysisgroup.com/globalassets/insights/publishing/2022-the-potential-global-economic-impact-of-the-Metaverse.pdf

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