Meta Could Lose Race as Firms Reduce Barrier to Metaverse Entry

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    A survey of 550 global enterprise and technology executives reveals increased investment in the metaverse purpose, pulling a small group of early adopters away from the rest. Will Meta get left behind in this race?

    Most global business leaders agree that the metaverse will enhance their business by creating a more immersive customer experience, but they have developed the skills and knowledge necessary to achieve their clear business goals. There are very few leaders.

    The study, conducted by technology services and consulting firm Wipro, found that companies with clear metaverse initiatives increased their investment in this area to $4.7 million.

    While these companies will continue to spend, smaller companies will close the gap by increasing their contributions to the metaverse by $66.3 million. The study also predicts that about 50% of large enterprises will have a metaverse platform. By contrast, only one-third of his small businesses will join the metaverse by 2025.

    Communications, sports, and gaming companies now dominate the metaverse. According to the report, the manufacturing industry will combine the Internet of Things with cryptocurrencies to lift the sector’s share in the metaverse to 38% by 2025.

    According to a recent report by FastCompany, leaders use virtual worlds to conduct immersive training, but they may only be rewarded if strategic goals are met. These include greater innovation and invention of new business models. Additionally, the immersive enterprise space allows businesses to scale and pivot quickly.

    One CEO who took part in the survey said the Metaverse will allow casino customers to play from anywhere.

    Executive Opinions on the Metaverse | Source: Wipro

    These companies may use existing platforms such as Sandbox, Decentraland, Roblox and Star Atlas. The corporate metaverse also consists of more advanced avatars.

    Horizon Worlds Workrooms suffers from headset issues

    Recently, Facebook’s parent company, Meta, announced a revamp of the Horizon Worlds metaverse to keep teenage users. Reports surfaced that the company is considering a partnership with Tencent. His ByteDance, a competitor of Tencent, is closing in on Meta’s virtual reality market share.

    But it’s worth noting that Meta’s version of enterprise workspaces, called Horizon Worlds Workrooms, has a version that many companies have avoided in favor of out-of-the-box virtual worlds like Roblox and Decentraland. You need an expensive, cumbersome headset that looks good.

    One industry expert says people aren’t ready for the move to virtual workspaces.

    “We haven’t seen any indications of willingness to get involved in this yet,” said John Egan, CEO of a cutting-edge technology research firm. time.

    The screen refresh rate of Horizon Worlds’ VR hardware also poses challenges for VR experiences with dynamic, game-like experiences. A recent study by Lockheed Her Martin found that some of Meta’s headset designs were biased toward female users. Wearing the device dilates the pupils of female users. This unnatural pupil position means that women experience nausea and tension.

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    BeInCrypto has reached out to the companies or individuals involved in the story to obtain an official statement regarding the recent developments, but has yet to hear back.


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