The market for transitions in the Metaverse is expected to reach $46.1-billion (R97.1billion) this year, as tech giants like Meta (formerly Facebook), aim big on the VR/AR-based technology to bring deeper immersive experiences to billions in the future.
The global Metarvese market is forecast to hit nearly $42-billion globally by 2026, according to research firm Strategy Analytics.
Social media giant Facebook has said it will spend more than $10-billion to build out its vision for Metaverse.
According to the company, the next computing platform has the potential to help unlock access to new creative, social and economic opportunities.
“The Metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people, even when you can’t be together – and do things together that you couldn’t do in the physical world,” said Meta.
It has also announced new tools to help people build for the Metaverse, including Presence Platform, which will enable new mixed-reality experiences on Quest 2 and a $150-million investment in immersive learning to train the next generation of creators.
