Author: Thierry E. Klein
The next wave of digital change will herald the commercial, economic and cultural revolutions brought about by the Metaverse, a variety of digitally augmented worlds, realities and business models. By 2030, Metaverse Economy Worth $8 Trillion to $13 TrillionFundamental advances in major technologies such as semiconductors, software, AI/ML, cloud, blockchain, virtual reality (VR), augmented reality (AR), augmented reality (XR), and 5G/6G are developing this very important in doing so. An immersive world.
Technologies related to the Metaverse and Web3 change the fundamental principles that govern the functioning of virtual worlds to maximum effect. Web 3.0 and the metaverse are often seen as complementary, but they are not mutually exclusive. Web3 decentralization and tokenization, including blockchain and NFTs, will help manifest in several metaverses. Metaverse elements also exist in Web3’s experiential and social use cases.
Advances in human augmentation and digital-physical fusion fundamentally change the way people interact in a combined physical and digital reality. The main goal of human augmentation is to improve human-computer interfaces and create fully immersive experiences. A user can wear VR goggles and her XR glasses, receive remote-controlled haptic feedback, and use a brain-machine interface to interact in the Metaverse. The fusion of digital and physical is concerned with creating, understanding, and manipulating dynamic representations of real-world objects, systems, and processes in the digital world. This is made possible by ubiquitous next-generation networking, advanced sensing, AI-based physical world understanding, real-time and dynamic rendering engines.
The Metaverse is full of real-world business opportunities that open many new opportunities in the consumer, corporate, industrial, and public sectors, leading to not just one, but multiple Metaverses. These virtual worlds share technologies, devices, and interfaces with each other. The degree of interconnection depends on the applications used and the business model implemented.
Consumer Metaverse developments will take longer to come to fruition than industrial and enterprise developments, as it will take several more years for VR and XR devices to become user-friendly from an ergonomic and design standpoint and affordable. may take metaverse.
The industry is rapidly undergoing a digital transformation, using metaverse technologies such as AR and digital twins in its operations. Industry holds the most significant and far-reaching potential for the metaverse. The sectors of our economy that serve as the backbone, such as the manufacturing, energy, logistics, construction and transportation sectors, stand to benefit most from the Metaverse. The industrial and corporate metaverses are constantly interacting. Her one product from the same company goes through both as it moves from the drawing board to the factory floor. As information technology (IT) systems at headquarters converge with operational technology (OT) systems on the factory floor, the distinction between these two business-focused metaverses blurs. The industrial and corporate metaverse could revolutionize the way organizations engage, conduct business, create and deliver goods and services, and manage business relationships.
Without a strong and pervasive connectivity architecture, the Metaverse cannot grow in all its enormous power. As a result, the network acts as a key enabler of the opportunities the metaverse presents. This requires robust, adaptable, and incredibly powerful networks. This means that latency, bandwidth, speed, reliability and accessibility must be significantly improved.