A report published by Globaldata, a global consulting and data analytics firm, predicts that China will become the leading country for metaverse technology in 2023. The company says artificial intelligence (AI), virtual reality (VR), augmented reality (AR) and his 6G will enable China to configure itself as a metaverse hub.
China will lead the metaverse industry in 2023
Interest in the metaverse appears to be declining at a global level, but China is still poised to become the industry leader.According to recent information report According to a study produced by consulting firm Globaldata, China is well positioned to outperform Western countries in terms of metaverse technology and continues to invest in technologies related to this area.
The importance China gives to these ancillary technologies will allow China to become the center of the Metaverse, the report says. it says:
The growing focus on VR, AR, AI, and 6G aims to outpace progress in the West and position China as the global hub of the Metaverse.
Additionally, Globaldata believes there are signs that China will continue to invest in virtual reality and artificial intelligence with the aim of boosting the nation’s economic development. Several provinces and cities in China have already shown plans to become Metaverse technology hubs, such as Shanghai and Zhejiang.
Where is the metaverse going?
While the Metaverse is commonly associated with consumer-only software and hardware, the report suggests that China’s Metaverse could focus on the industry and the benefits that can be gained by including Metaverse technology in its processes. suggests that is high.
China’s Ministry of Industry and Information Technology recently released a report on the application of VR and Metaverse technologies to industrial processes, showing how to blend them efficiently. Globaldata predicts that the Metaverse will be valued above other technologies due to the possibilities it presents. This is explained as follows.
China’s investment in Metaverse-related technology highlights the value of the Metaverse compared to existing one-off experiences such as social media, gaming, and e-commerce.
However, even with estimates that the value of the metaverse sector will reach $376 billion by 2025, 2023 will see investments in the metaverse a product of “cooling concerns, economic impediments, and immaturity.” It has been described as a year that suffers from a cooldown phase. of enabling technology. ”
What do you think of the prediction that China will overtake the West when it comes to investing in the Metaverse? Let us know in the comments section below.
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