November 30th, 2022, Samuel Tan
By 2035, the metaverse – an interoperable network of 3D virtual worlds in which people can interact in real-time – will contribute between US$0.8 – US$1.4 trillion per to Asia’s GDP (roughly 1.3-2.4% of overall GDP), according to recent analyses from Deloitte.
But how interested are consumers in accessing the metaverse – and what is their preferred hardware for doing so? Also, what activities are they most interested in taking part in the metaverse?
In Part 2 of this four-part article series – Minding the metaverse – we explore the latest YouGov RealTime Omnibus research in Australia and Singapore on these questions around consumer interest and potential usage of the metaverse.
- Read our Part 1 article on how consumer awareness and perceptions of the metaverse, and associated brands – vary among Australia and Singapore consumers here.
- Read our Part 3 article on the top factors in Australia that encourage and deter consumers from entering the metaverse here.
- Read our Part 4 article on the top factors in Singapore that encourage and deter consumers from entering the metaverse here.
What proportion of Australians and Singaporeans are interested in entering the metaverse?
Latest research from YouGov RealTime Omnibus shows that just over half of consumers in Australia and Singapore say they would be interested in entering the metaverse, to create an avatar and participate in virtual activities.
In Australia, interest among males is significantly higher than females: nearly two-thirds of Australian men (59%) express interest compared to less than half of Australian women (44%). But in Singapore there are no significant gender differences: 53% of males and females express interest in entering the metaverse.
Across both markets, consumer interest in the metaverse is higher among younger than older consumers.
In Australia, a clear majority of Gen Z and Millennial consumers express interest in the metaverse, while most Gen X and Baby Boomers do not. Interest is highest among Millennials, where almost three-quarters are keen on entering the metaverse (73%), followed by over two-thirds of Gen Z (69%). In contrast, less than half of Gen X (47%) and over a quarter of Baby Boomers (28%) say the same.
In Singapore, most Gen Z, Millennial and Gen X consumers express interest in the metaverse, but the majority of Baby Boomers do not. Around three in five Gen Z and Millennials are keen on entering the metaverse (61%), as are just over half of Gen X (52%). In contrast, just over two in five Baby Boomers say they would be interested.
What devices would Australians and Singaporeans most prefer to use to access the metaverse?
Accessing the metaverse via a computer laptop or desktop was the most preferred option among Australians (22%), but only slightly so compared to using a virtual reality headset (21%) or smartphone (20%).
Among Singaporeans, however, using a smartphone to access the metaverse was clearly the most popular option (31%), ahead of virtual reality headsets (20%) and computer laptops or desktops (18%).
What activities would Australians and Singaporeans be most interested in participating in the metaverse?
Among Australians keen on entering the metaverse, visiting/traveling to a destination is the most popular activity, with one in three expressing interest (33%). Meeting up with friends and attending a live concert or gig, are the next most popular metaverse activities that one in four are interested to take part in (both 25%).
However, among Gen Z specifically, playing video games is the most popular activity, with 46% expressing interest, followed by meeting new people (34%).
Visiting/traveling to a destination is the most popular activity among Millennials (41%), Gen X (30%) and Baby Boomers (31%). Playing video games is the second most popular activity among Millennials (35%), while among Gen X it is meeting up with friends (28%), and among Baby Boomers it is attending a live concert or gig (18%).
Among Singaporeans keen on entering the metaverse, visiting/traveling to a destination is also the most popular activity, with over a third expressing interest (36%). Meeting up with friends (29%) and attending a live concert or gig (28%), are also the next most popular metaverse activities that almost three in ten are interested in taking part in.
However, among Gen Z specifically, playing video games is the most popular activity, with 42% expressing interest, followed by meeting up with friends (41%).
Visiting/traveling to a destination is the most popular activity among Millennials (40%), Gen X (37%) and Baby Boomers (35%). Playing video games is the second most popular activity among Millennials (38%), while among Gen X it is going shopping (25%), and among Baby Boomers it is meeting up with friends (24%).
Read YouGov’s latest research on consumer attitudes towards the metaverse in Australia and Singapore, in our four-part Minding the metaverse article series:
- Part 1: How do awareness and perceptions of the metaverse – and associated brands – vary among Australia and Singapore consumers?
- Part 3: What are the top factors in Australia that encourage and deter consumers from entering the metaverse?
- Part 4: What are the top factors in Singapore that encourage and deter consumers from entering the metaverse?
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Methodology: YouGov RealTime Omnibus provides quick survey results from nationally representative or targeted audiences in multiple markets. This study was conducted online on 10 Nov 2022, with a nationally representative sample of 1,022 Australia residents and 1,021 Singapore residents, using a questionnaire designed by YouGov.
Australian data figures have been weighted by age, gender and region to be representative of all adults residing in Australia (aged 18+) and reflect the latest Australian Bureau of Statistics (ABS) population estimates. Singapore data figures have been weighted by age, gender and ethnicity to be representative of all adults residing in Singapore (aged 18+) and reflect the latest Singapore Department of Statistics (DOS) estimates. Learn more about YouGov RealTime Omnibus.