ALBAWABA - Metaverse technology could generate $760 billion in revenue by 2035, equivalent to 2.4 percent of the United States' annual Gross Domestic Product (GDP), according to a study conducted by Meta Platforms, the company that owns Facebook.
The study explained that economic gains could come from the use of the technology in the defense, medical, and manufacturing sectors, as well as entertainment use cases such as video games and communications.
Investors have expressed doubt about the huge returns that Meta Platforms has achieved in the first quarter of this year, given the contraction of the digital advertising sector, which represents one of the company's most important sources of income.
Meta Platforms said the company generated a revenue of $28.65 billion in the first quarter of 2023 and is expected to record revenues ranging from $29.5 billion to $32 billion in the second quarter, which ends in June 2023.
The projections follow the release of the Metaverse Economic Impact Report, conducted by Analysis Group last year, which indicated that the technology will contribute $3.01 trillion to the global economy by 2031.
