New research led by technology and consulting firm Gartner suggests that by 2026 a quarter of people will spend at least one hour a day in the metaverse ecosystem, mainly for education and entertainment purposes.
The research also predicts that people will continue to increase their activities in the virtual world by participating in various social, entertainment, shopping and educational activities.
The research suggests that interest in the metaverse is helping businesses gradually transition to the virtual realm to expand their scale of operation. The research also reveals that businesses and brands are starting to build the right infrastructure to enable people to create their virtual identities in the digital world.
Gartner Research Vice President Marty Resnick said in a statement that companies and consumers are already starting to build their identities in the physical world in the virtual world.
“From attending virtual classes to buying virtual land and building virtual homes, these activities are currently being conducted in different environments. Eventually, all these technologies and experiences will come together in a single environment we call the metaverse.”
Because the virtual world is not owned by any company or organization, the research also predicts that the metaverse will have a virtual economy operated through "digital currencies and NFTs."
According to Gartner vice president Marty Resnick, about 30% of businesses will move their virtual ventures to the metaverse by 2026.
“Companies will have the ability to expand and improve their business models in unprecedented ways by moving from the digital model to the metaverse business model. By 2026, 30% of the world's organizations will have products and services ready for the metaverse.”
The Metaverse is a potential $1 trillion market that continues to grow and expand every day. Pointing out that metaverse technology is currently under development, the Gartner report also warned investors to take time and research the sandbox very thoroughly before adopting the metaverse as a business model.