Metaverse Hype to Transition into New Business Models that Extend Digital Business. By 2026, 25% of people will spend at least one hour a day in the metaverse for work, shopping, education, social, and/or entertainment, according to Gartner, Inc.
“Vendors are already building ways for users to replicate their lives in digital worlds. 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,” said Marty Resnick, research vice president at Gartner.
A metaverse, according to Gartner, is a communal virtual shared area generated by the fusion of virtually improved physical and digital reality. It’s permanent, delivering increased immersive experiences, and it’s platform-agnostic, meaning it can be accessed from any device, from tablets to head-mounted displays.
Gartner anticipates the metaverse to have a virtual economy powered by digital currencies and nonfungible tokens since no single vendor will own it (NFTs). Every business that consumers deal with on a daily basis will be affected by the metaverse.
It will also have an impact on how work is completed. Immersive workplaces in virtual offices will help businesses improve employee engagement, collaboration, and connection. Because the metaverse will supply the framework, businesses will not need to build their own infrastructure. Virtual events, which have grown in popularity over the last 18 months, will also provide more collaborative and immersive networking possibilities as well as seminars.
“Enterprises will have the ability to expand and enhance their business models in unprecedented ways by moving from a digital business to a metaverse business. By 2026, 30% of the organizations in the world will have products and services ready for the metaverse,” said Resnick.
The adoption of metaverse technologies is nascent and fragmented, and Gartner cautions organizations about investing heavily in a specific metaverse. “It is still too early to know which investments will be viable in the long term, but product managers should take the time to learn, explore and prepare for a metaverse in order to position themselves competitively,” said Resnick.
Gartner clients can read more in “Predicts 2022: 4 Technology Bets for Building the Digital Future” and “Quick Answer: What is a Metaverse.”
More information will be discussed in the complimentary Gartner webinar “Immediate and Future Metaverse Opportunities for Product Leaders.” Learn which emerging technologies can help generate ROI in the Gartner Emerging Technologies Roadmap.