Metaverse Is Expected To Be Worth $679 Billion Industry By This Time

The metaverse is expected to be $679 billion worth industry, report finds.

According to a report by IT research firm Everest Group, metaverse is expected to become a $679 billion industry by 2030.

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The report further mentioned that the growth has implications for trust and safety.

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Tech giants such as Google, Meta, Microsoft, and Nvidia are heavily investing in the virtual reality industry.

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The report also warned that the concerns regarding managing data privacy and preventing the abuse of online avatars will also increase.

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Trust and Safety service providers are among the fastest growing sectors of the Business Process Services market, and can reach $15-20 billion by 2024.

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It is expected to grow 35-38 percent through 2024, according to the report and zoom to 60-68 percent growth after the year ends.

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Meta, the social media giant who has rebranded itself as a virtual reality company, has so far made no profits in its augmented reality division.

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