PR95677

BOSTON, May 16, 2022 /PRNewswire=KYODO JBN/ --

Economic experts at Analysis Group (

https://c212.net/c/link/?t=0&l=en&o=3515702-1&h=1889449274&u=http%3A%2F%2Fwww.analysisgroup.com%2F&a=Analysis+Group

), one of the largest international economics consulting firms, released a

report suggesting that if metaverse adoption and impact evolves similarly to

mobile technology, it could contribute 2.8% to global gross domestic product

(GDP) in the 10th year after adoption begins. If started in 2022, adoption of

the metaverse over the next 10 years could lead to a $3-trillion contribution

to global GDP in 2031. Like mobile technology, the metaverse is expected to

have far-reaching applications, with the potential to transform a wide range of

economic sectors such as education, health care, manufacturing, job training,

communications, entertainment, and retail.

The analysis, https://www.analysisgroup.com/metaverse, adapts research on

previous breakthrough technologies to draw inferences about the potential

adoption process and economic impact of the metaverse. The metaverse, which is

still in its formative stages, is envisioned to comprise an expansive network

of digital spaces enabled by developing technologies such as augmented reality

(AR), virtual reality (VR), and mixed reality (MR).

The analysis centers on measuring the potential economic impact of the

metaverse if it were to evolve like prior successful technologies in terms of

the rate of adoption by users and the impact on GDP. The researchers selected

mobile technology as an appropriate analog because of similarities to the

metaverse in the way it combined existing and nascent innovations to

fundamentally alter global technological and economic landscapes.

The team drew from academic literature on the development cycles for innovative

technologies and on publicly available data for the deployment and adoption of

mobile technology over a number of years to assess direct, indirect, and

catalytic or stimulative impacts. These factors are important for GDP,

including job creation, business growth, and economic development.

The study was authored by Analysis Group Managing Principal Laurits Christensen ( https://c212.net/c/link/?t=0&l=en&o=3515702-1&h=2128946143&u=https%3A%2F%2Fwww.analysisgroup.com%2Fexperts-and-consultants%2Fmanaging-principals%2Flaurits-r--christensen%2F&a=Laurits+Christensen ) and Manager Alex Robinson ( https://c212.net/c/link/?t=0&l=en&o=3515702-1&h=2770036333&u=https%3A%2F%2Fwww.analysisgroup.com%2Fexperts-and-consultants%2Fmanagers%2Falex-robinson%2F&a=Alex+Robinson ), who were supported by a team of economists. Funding was provided by Meta. To learn more about Analysis Group's capabilities, visit AnalysisGroup.com ( https://c212.net/c/link/?t=0&l=en&o=3515702-1&h=1038704972&u=http%3A%2F%2Fanalysisgroup.com%2F&a=AnalysisGroup.com ).

About Analysis Group:

Analysis Group is one of the largest international economics consulting firms, with more than 1,000 professionals across 14 offices in North America, Europe, and Asia. Since 1981, we have provided expertise in economics, finance, health care analytics, and strategy to top law firms, Fortune Global 500 companies, and government agencies worldwide. Our internal experts, together with our network of affiliated experts from academia, industry, and government, offer our clients exceptional breadth and depth of expertise.

Contact:

Analysis Group

Eric Seymour, +1 978 273 6049

eric.seymour@analysisgroup.com

SOURCE  Analysis Group