Metaverse - Thematic Research
The metaverse is a virtual world where users share experiences and interact in real-time within simulated scenarios. It is still largely conceptual but could transform how people work, shop, communicate, and consume content. The metaverse brings together a range of next-generation technologies from cloud computing to artificial intelligence (AI), blockchain, cryptocurrencies, cybersecurity, the internet of things (IoT), virtual reality (VR), augmented reality (AR), digital twins, and adtech. By 2030, the metaverse will be a $13 trillion opportunity, according to Citi Global Insights. The metaverse will make digital media experiences more immersive, inclusive, and accessible than today. But it will raise social concerns ranging from data privacy to other forms of online harm.
The metaverse will be critical to the future of work. The hype around the metaverse is largely focused on consumer use cases. Gaming and social media companies are at the vanguard of metaverse development, but enterprises will lead the charge in the next three years. This shift will be driven by the future of work and digital transformation initiatives ongoing across sectors ranging from retail to healthcare and financial services. Big Tech is championing the metaverse, with Microsoft and Meta promoting it as the ideal environment to support hybrid working.
Companies are currently building metaverses around their core competencies while pursuing new use cases to expand their offerings. For instance, Microsoft’s Mesh is based on its competencies in cloud computing, artificial intelligence (AI), and augmented reality (AR). Similarly, Meta is focusing on AI and virtual reality (VR). In short, the metaverse is a convergence of several tech themes, and companies are adopting those that suit their capabilities and objectives. In addition, companies from non-tech sectors are investing in the metaverse to engage with customers, expand brand awareness, and identify new revenue streams.
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