Study shows that consumer goods companies are recognizing significant opportunities in the metaverse

European telecommunications and consumer goods companies are increasingly jumping on the metaverse trend, with a study indicating that it could make up a significant portion of their revenue by 2030.
Telcos show confidence in the metaverse
A recent study by global consulting firm Kearney reveals that more and more businesses are embracing the concept of the metaverse. The study highlights that leaders in the telecommunications and consumer goods sectors are acknowledging the potential impact of the metaverse on their profits.
These leaders are optimistic about the metaverse contributing significantly to their revenue, with projections ranging from 5% to a staggering 50% by the year 2030. However, the main obstacle lies in figuring out how to effectively make money from this emerging digital world.
The study, titled “Pragmatic Leader’s Guide to the Metaverse,” provides insights into revenue forecasts and attitudes of 167 high-level decision-makers in the telecommunications and consumer goods industries in Asia Pacific, North America, and Europe.
In Europe, 25% of telecommunications and consumer goods companies expect the metaverse to make up between 5-20% of their revenue by 2025, a number that increases to 52% by 2030. Some forward-thinking leaders, representing 9% of respondents, even anticipate that between 20% and 50% of their revenue will come from metaverse initiatives within the next decade.
Despite the excitement surrounding the metaverse, there is uncertainty among industry leaders on how to effectively capitalize on it. Around 84% of telco leaders and 64% of consumer goods firms agree that exploring new markets and channels is crucial to staying relevant in the industry.
Interestingly, sentiments about the impact of the metaverse vary between industries. In Europe, 56% of consumer goods leaders and 59% of telco companies view the metaverse as a positive force in their industry.
Although there is great enthusiasm for the metaverse in the tech and communications sectors, there are also risks associated with this virtual space. The study shows that 57% of telco respondents and 63% of consumer goods European respondents see cybersecurity as a significant risk in the metaverse.
Furthermore, 43% of telco leaders and 27% of consumer goods leaders perceive regulatory risks as a major concern.
Kearney partner Jesper Larsson points out that global leaders see the metaverse as a promising avenue for growth in the coming years, but monetizing it effectively remains a key challenge. Larsson suggests that technologies like 5G could be the solution, enhancing the metaverse’s capabilities and profitability.
Another Kearney partner, Eric Gervet, acknowledges the impact of economic slowdown and inflation on the tech sector, noting the importance of adapting strategies to leverage the growth of the metaverse. Companies that proactively invest in the necessary technologies and partnerships will have a competitive edge in accessing this new revenue stream.
In addition, the study emphasizes the need to address risks associated with the metaverse, particularly in cybersecurity and regulation. As companies delve deeper into the virtual world, implementing strong security measures and navigating regulatory challenges will be crucial to maintaining trust and compliance.
The move towards the metaverse is not limited to European leaders. While North American respondents have lower expectations for metaverse revenue by 2025, their outlook becomes more positive for the future, with 45% anticipating the metaverse contributing to their revenue by 2030. This indicates that the transformative potential of the metaverse is gaining recognition globally, albeit at different paces.
The metaverse is set to become a major driver of revenue for innovative companies. However, effectively monetizing this virtual realm will require strategic planning, technological integration, and addressing potential risks.