A quarter of people will spend time in the Metaverse by 2026: Research
By 2026, 25% of people will spend at least one hour a day in the Metaverse for work, shopping, education, social, and entertainment purposes, according to new research.
The Feb. 7 report by technology research and consulting company Gartner found that in anticipation of this migration to the Metaverse, brands are already building the infrastructure to allow their users to replicate their lives digitally.
According to Gartner Vice President Marty Resnick, brands will need to collaborate in order to unify the Metaverse as their users continue to demand virtual, interactive, three-dimensional experiences.
He explained, “from attending virtual classrooms to buying digital land and constructing virtual homes, these activities are currently being conducted in separate environments.”
He believes that 30% of the organizations in the world will have products and services in the Metaverse by 2026.
This comes after research firm Strategy Analytics found that the global Metaverse market is forecast to hit nearly $42 billion by 2026. However, a November report from Grayscale found that the total valuation might even reach a trillion dollars in the coming years. The rate of active Metaverse users increased 10x between the start of 2020 and June 2021.
Either way, Terra Virtua co-founder and CEO Jawad Ashraf said that the research highlights that the Metaverse will change the way in which users interact with virtual environments, predicting that it will become a destination for social occasions, work meetings, gaming events, music concerts, and more.
Related: Blockchain metaverse ecosystems gain traction as brands create digital experiences
Pointing out that the adoption of metaverse technologies is nascent and fragmented, Renick urged
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