May 9 (Reuters) - The metaverse could contribute as much
as $760 billion or about 2.4% to U.S. annual gross domestic
product (GDP) by 2035, according to a study commissioned by
Facebook owner Meta Platforms .
The concept of the metaverse includes augmented and virtual
reality technologies that allow users to immerse themselves in a
virtual world or overlay information digitally on images of the
real world, according to the report by consulting firm Deloitte.
Economic gains may come from the use of the technologies in
the defense, medical and manufacturing sectors, plus
entertainment use cases such as video games and communication,
the report said.
Social media giant Meta, which pivoted its focus on building
metaverse technologies in 2021, has forecast the tech would
eventually replace mobile as the main computing platform.
Investors have questioned Meta's large investments in its
metaverse project, skeptical of the returns at a time when a
downturn in the advertising sector pressured the company's
revenue growth.
In a separate report, Meta said the European Union may see
an increased economic opportunity of up to 489 billion euros
($538.29 billion) in annual GDP by 2035 or about 1.3%–2.4% of
its total GDP.
The metaverse could contribute between C$45.3 billion
($33.88 billion) and C$85.5 billion to Canada's annual GDP by
2035, Deloitte said.
The regional projections follow a global economic impact
report that Meta commissioned to consulting firm Analysis Group
last year, which estimated that metaverse adoption would
contribute $3.01 trillion by 2031.
($1 = 0.9084 euros)
($1 = 1.3372 Canadian dollars)
(Reporting by Akash Sriram in Bengaluru and Katie Paul in New
York; Editing by Shinjini Ganguli)
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