McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and largest of the "Big Three" management consultancies (MBB), the world's three largest strategy consulting firms by revenue.
McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey that provides professional services to businesses, governments and other organizations. McKinsey is the oldest and largest of the "Big Three" management consulting firms (MBB) and one of the world's top three strategic consulting firms by revenue.
The metaverse is still being defined, both literally and figuratively. Yet its potential to unleash the next wave of digital disruption seems increasingly clear, with real-life benefits already emerging for early adopting users and companies. As we saw in previous shifts in technology such as the emergence of the internet followed by social media, mobile, and cloud, novel strategies can quickly become mainstream. The metaverse has the potential to impact everything from employee engagement to the customer experience, sales and marketing, product innovation, and community building.
This report examines the metaverse’s building blocks, investment flows, and what is driving them, and how consumer and business behavior is evolving, its potential economic impact, and actions business leaders should consider to capture value.
The Metaverse is still being defined, both literally and figuratively. However, its potential to unleash the next wave of digital disruption seems increasingly clear, and early Metaverse users and companies are already getting a real taste of the benefits. As we have seen with previous technological changes, such as the emergence of the Internet, and subsequently social media, mobile and cloud computing, novel strategies can quickly become mainstream. The Metaverse has the potential to impact everything from employee engagement to customer experience, sales and marketing, product innovation and community building.
This report examines how the Metaverse is built, investment flows and drivers, as well as how consumer and business behavior is evolving, its potential economic impact, and what business leaders should consider to capture value.
— There continue to be questions around the longevity and potential of the metaverse, with some view regarding it as merely a rebranded gaming platform of little wider interest. We do not share that skepticism and believe the metaverse has the potential to be the next iteration of the internet. It may seamlessly combine our digital and physical lives by featuring a sense of immersion, real-time interactivity, interoperability across platforms and devices, the ability for thousands of people to interact simultaneously, and use cases spanning activities well beyond gaming.
— The metaverse’s technology stack has four core building blocks: content and experiences, platforms (such as game engines), infrastructure and hardware (including devices and networks), and enablers (such as payment mechanisms and security).
— Large technology companies, venture capital (VC), private equity (PE), start-ups, and established brands are seeking to capitalize on the metaverse opportunity. They have already invested more than $120 billion in the metaverse in the first five months of 2022, more than double the $57 billion invested in all of 2021.
— There are still doubts about the longevity and potential of the Metaverse, with some believing it is just a rebranded gaming platform with little wider significance. We disagree and believe the Metaverse has the potential to be the next iteration of the internet. It can seamlessly integrate our digital and physical lives through immersion, real-time interactivity, interoperability across platforms and devices, the ability for thousands of people to interact simultaneously, and active use cases that span beyond gaming.
— The Metaverse’s technology stack has four core building blocks: content and experience, platform (such as game engines), infrastructure and hardware (including devices and networks), and enablers (such as payment mechanisms and security).
— Large technology companies, venture capital (VC), private equity (PE), startups, and well-known brands are all pursuing Metaverse opportunities. In the first five months of 2022, they have invested more than $120 billion in the Metaverse, more than double the $57 billion invested in all of 2021.
Connectivity is the biggest driver for people, followed by the potential to explore digital worlds. Some 95 percent of business leaders expect the metaverse to have a positive impact on their industry within five to ten years, and 61 percent expect it to moderately change the way their industry operates.
— While estimates of the potential economic value of