Metaverse as a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. (Image Source: Oculus Facebook page) Many projects are picking up on the metaverse trend and the craze is only going to increase says a new report. According to a recent forecast by Gartner, a research company, by 2026 at least 25 per cent of people will spend one hour a day in the metaverse for work, shopping, education, social and entertainment.
For enterprises, the research company believes that metaverse will enhance their business models as businesses shift from digital to metaverse. “By 2026, 30 per cent of the organizations in the world will have products and services ready for metaverse,”said Marty Resnick, research vice president at Gartner.
“Vendors are already building ways for users to replicate their lives in digital worlds,” Resnick noted while pointing that “from attending virtual classrooms to buying digital land and constructing virtual homes, these activities are currently being conducted in separate environments. Eventually, they will take place in a single environment – the metaverse – with multiple destinations across technologies and experiences.”
Metaverse is the next iteration of the internet where users will be able to build virtual lives, share spaces, transact and collaborate in new ways. Gartner defines the metaverse as: “a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. It is persistent, providing enhanced immersive experiences, as well as device independent and accessible through any type of device, from tablets to head-mounted displays.”
It should be noted that since no single vendor will own the metaverse, Gartner expects it to have a virtual economy enabled by cryptocurrencies and non-fungible-tokens (NFTs).
The report further highlights that metaverse will impact how daily work gets done, meaning that enterprises will provide better engagement, collaboration and connection to their employees through immersive workspaces in virtual offices.
“Businesses will not need to create their own infrastructure to do so because the metaverse will provide the framework. In addition, virtual events that have gained popularity over the last 18 months will offer more collaborative and immersive networking opportunities and workshops,” the company added in its report.
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