Metaverse Meets Business – Creating Value in the Alternative Digital World

Metaverse Market Digital World Trends Report Overview

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 ecosystem 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. The metaverse technology 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 is likely to impact multiple sectors with user engagement, collaboration, training, and learning as some of its early use cases. These use cases and applications within the enterprise will become more comprehensive in the future, where enterprises can create their economies, trade with other companies, and form partnerships in new and innovative ways.

The metaverse meets business research report provides a briefing on the technology theme with a detailed analysis of the factors driving its development and adoption. The report examines how notable enterprises and startups are developing the building blocks of the metaverse with their technological prowess to make this ecosystem a reality.

Metaverse Value Chain Analysis by Layers

GlobalData’s metaverse value chain is split into four layers: foundation, tools, user interface, and experience.

Foundation: This layer comprises technologies necessary for computation, motion tracking, low-latency networks, data management systems, and decentralized infrastructure. It sets out the primary building blocks of the metaverse, which includes semiconductors, components, connectivity, data management, and blockchain. The metaverse will need massive computing power to merge the physical and digital worlds. Therefore, semiconductor companies must develop specialized chips for the metaverse platforms, user interfaces, and experiences.

Tools: It allows platform developers and app developers to combine 3D engines, AI, visualization, and payments tools to create experiences and revenue models. It comprises software and services to build metaverse experiences. There are five prerequisites for a successful metaverse ecosystem: 3D engines, AI engines, visualization engines, payment platforms, and adtech platforms. To create digital assets, virtual worlds, and immersive content, 3D engines support developers around 2D and 3D graphics rendering, AR and VR development, audio integration, and memory management. They enable developers to modify content to their platforms and access data for analysis.

User Interface: This layer provides the hardware devices that enable users to enter the metaverse. Though VR headsets can offer fully immersive experiences, smartphones, personal computers (PCs), and consoles will be the initial user interface for many consumers. Going forward, AR-based wearables may replace the smartphone as the primary connected device users carry around. By contrast, VR headsets will cater to enterprises for training and entertainment enthusiasts for gaming and social interactions.

Experience: In the final layer, users can virtually experience activities such as enterprise collaboration, gaming, social media, ecommerce, live events, and much more. The quality of experience on a metaverse platform will determine its success in the long run. Several experiences are under development, including virtual worlds, avatars, collaboration tools, gaming, ecommerce, and live events.

Metaverse Meets Business Key Players

Some of the companies making their mark within the metaverse meets business segment:

• B2Digital
• Benetton
• Boeing
• Broadcom
• BUD Technologies
• CG1
• Decentral Games
• Epic Games
• GIGABYTE
• Gravvity
• HGC
• HTC
• Inery
• Inworld AI
• Kandola

B2Digital: Florida’s live event sports company B2Digital, with a focus on the development of Mixed Martial Arts (MMA) leagues, has partnered with Metaskins Studios to distribute its multiple B2 Fighting Series (B2FS) in Decentraland. Leveraging Metaskin’s development of a wide range of web 3.0 content, the company aims to make B2FS one of the first big combat sports brands to offer live virtual events in the metaverse.

Broadcom: American semiconductor manufacturing company Broadcom has launched end-to-end Wi-Fi 7 chipset solutions that include residential gateways, Wi-Fi routers, enterprise access points, and client devices. The chips are claimed to provide more than double the speed of current Wi-Fi 6 and 6E solutions, as well as reliable low-latency connections and increased range.

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Key Highlights

Innovations: presents real-world innovation use cases and examples related to the metaverse by companies as well as startups across multiple sectors. It casts light on how tech-enabled innovations are transforming every segment of cross sector use case applications.

Reasons to Buy

• No surprise that technology has been a driving force in business transformation for years, but the term ‘emerging technologies’ has all of the sudden become the key catalyst to drive the next wave of innovation across sectors.
• The sense of urgency weighs different across different sectors, where the direct customer-facing sectors are at the forefront compared to other capital-intensive sectors. Companies in one sector can take cues from successful innovations in other sectors to either draw analogies with existing products, services, and processes or transfer strategic approaches for a revolutionary transformation.
• Against this backdrop, enterprises need to understand which emerging technologies are impacting their sector and how various companies are implementing them to meet various challenges.
• The innovation landscape report in the metaverse published by GlobalData covers some of the key trends, use cases, and real-world examples related to the implementation of emerging technologies across several cross-sector applications.