Metaverse Business Will Hit $900Billion Market by 2030

$900 B   

According to Bain & Company report, by the end of 2030, the metaverse business would hit $900 billion market. In the metaverse market, virtual experiences are predicted to be 65%, app stores and operating systems 10%, computing and infrastructure 10%, devices 10% and content-creation tools 5%. 

135.5 M

eMarketers forecast revealed that by 2027, in the US, there will be about 135.5 million Gen Z and millennial social network users which is half of total US social network users. TikTok, Snapchat, Instagram are the top social media platforms for Gen Zers and 40% of Millennials use Reddit. 

35%  

As per eBay’s latest earning report, its ad revenue increased to 35% of $367 million YOY in Q2 2023. By making some tech improvements eBay Ads boosted revenues, even now the platform’s improved search ranking system.   

81%  

A survey was conducted from 300 US and UK ad professionals working both in-house and agency-side and found that 81% say they need to become more adventurous. 83% say they are actively exploring new sources of data for targeting their ads and 60% feel that it is not difficult to reach the right audiences online. 

0.7%  

The Commerce Department revealed that retail sales have increased 0.7% for July month, while spending rose 1% excluding autos. Both were better than the 0.4% estimates. The consumer price index rose 0.2% and clearly indicates a solid demand.  

97 M  

As per The World Economic Forum (WEF) forecast that new technologies will damage 85 million jobs globally between 2020 and 2025 and create 97 million new job roles. Accenture is planning to double its AI-focused workforce to 80,000. 

31%  

Sony has announced that the company has seen a 31% drop in operating income in the fiscal first quarter. It sold 3.3 million units of the PlayStation 5 in its last quarter, up 38% YOY. Sony reported a 6% drop in revenue and a 68% sink in profit.