The metaverse can be summed up as a virtual environment where people can interact with each other in real-time while taking part in activities like work, play, and shopping. The Metaverse is hailed as the advancement in internet communication.
The COVID-19 outbreak has accelerated digitization and standardized the rise in social interaction and online communication, which accounts for the Metaverse's rapid growth. Users' involvement in online communities and social networks is expected to rise as a result of the immersive experience. In the future, the Metaverse could shape into an $8 trillion market.
Augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and the Internet of Things (IoT) are the four fundamental technological pillars of the Metaverse. These technologies have not only enhanced user experience but also increased user engagement. Employee training, collaboration, virtual meetings, and learning are some of the early use cases of the metaverse. The rise in partnerships and acquisitions with a metaverse focus emphasizes the importance of improving AR and VR solutions.
Recent Deals:
On June 22, 2022, XR Immersive Tech acquired QuarkXR to launch the industry’s first VR streaming solution.
On May 9, 2022, TeamViewer and SAP entered into a strategic partnership to digitalize its warehouse operations with the use of augmented reality (AR). TeamViewer’s enterprise Augmented Reality (AR) platform, Frontline will be integrated with SAP’s Extended Warehouse Management (SAP EWM) application to enhance the logistics process.
On April 22, 2022, Arogo Capital Acquisition, a blank check/SPAC company acquired EON Reality, a pioneer in Virtual and Augmented Reality and Knowledge Metaverse industry and education solutions for an enterprise value of approximately $655 million.
Highlights of the metaverse ecosystem
GlobalData examines how innovative adoption of emerging technologies can accelerate the development of the metaverse ecosystem: Metaverse Becoming a Reality.
United States of America
United States of America
United States of America
United States of America
South Korea
United States of America
United States of America
United States of America
Japan
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer