METAVERSE at a glanceNovember, 24 2021
Just as our real-world economy requires multiple actors, sectors, and industries to function, the metaverse will require numerous players to function smoothly. The graphic below summarizes some of the necessary components that will comprise the metaverse.
While Metaverse is a new concept, technological advancements like computer vision, sensors, displays, data storage, augmented reality, virtual reality, artificial intelligence, and machine learning have made Metaverse a much more practical solution for consumers and industries.
Although Metaverse solutions are in their early stage, we see an explosive growth of Metaverse development in major industries.
Industries That Metaverse Is Going To Change
In recent years, Metaverse has made a huge impact on our daily lives. As a result, the traditional idea of using AR and VR for games has changed. Today, experts see these technologies as a catalyst to bring changes in various industrial fields.
The potential of Metaverse technology has allowed various industries to adapt to it easily. Let’s take a look at some of the most prominent industries that have chosen to interact with Metaverse technology and where metaverse design development is taking off in major ways.
1. Remote Work Collaboration
Augmented reality is one of the best ways to train your employees and close the skill gap. This makes the organization more productive. Metaverse solution helps the remorse workers to scale their access to information without working extra hard.
While the density of the information increases, Metaverse technologies help alleviate the perceptions and enable new channels for information exchange.
2020-21 marks the year when augmented reality becomes more dominant in education. This accelerated the transition to a technology that users can’t seem to get enough of. With the pandemic, schools started offering distance education. This is where Metaverse technology proved to be a reliable way to help students study different subjects.
Seeing how deep Metaverse technology has rooted itself in the educational sector, it is safe to say that, in the next decade, technologies like AR and VR will become primary methods to teach the students.
3. Architecture & Construction
With the pandemic crisis, Metraverse technology opened the gateway for the organization to connect their team members remotely and enhance collaboration. Metaverse technology like Augmented reality enables remorse collaboration with stable two-way audio and video annotations.
Such technological advancement leaves behind the traditional ways of cooperation and accelerates the operation process. The Metaverse technology will offer the construction industry the breakthrough they need with Scene Tracking.
Another area where Metaverse technology is being used rigorously is the travel sector. The tourism industry uses the Metaverse technologies like augmented reality and virtual reality to let people experience different places from the comfort of their homes.
Thanks to the Metaverse technology, tourists now have information in the form of audio and video. One of the special features of the Metaverse technology is that you can have a 360-degree tour of the places which you want to visit. This gives your valuable insight into the places and helps you plan your visit.
The healthcare industry embraces the interaction between the Metaverse and the patients to improve the health care services. For example, with the integration of the Metaverse technology, doctors could see different 3D models of the human body parts and learn more about it.
At the same time, Metaverse also helps doctors facilitate numerous virtual surgical processes to prepare themselves before surgery. Today, it has become a norm for surgeons to use Metaverse technology to visualize the area where the surgery will be performed.
The Future Of Metaverse
Metaverse solutions are the new waves of technological advancement. Experts believe that with the integration of the Metaverse technologies, the industries will experience a breakthrough with their operations.
However, the current Metaverse technology is still not proficient enough. Hopefully, with the 5G technology, we can see what potential Metaverse holds.
Below is a Venn diagram to summarize the exposures of some Metaverse companies. Of all of the companies included, Alphabet (GOOGL), Meta Platforms (FB), NVIDIA (NVDA), Cisco (CSCO), Snowflake (SNOW), VMWare (VMW), and Cloudflare (NET) have exposure to multiple segments of the metaverse. Just because they have multiple ‘touch-points’ to the platform, though, does not mean that they are the ‘safest’ ways to play this new development.
Although there are numerous other ways to play the metaverse, the areas above are the seven we are focusing on right now. This focus may evolve over time as more information and developments emerge, but for now these seven components appear to be necessary in order to create an immersive augmented/virtual reality.
Of the 30 names listed above and on the following page, four went public just this year. It is also worth noting that all of these companies have exposure outside of the metaverse as well, so investing in any of them solely for metaverse development may prove risky as there are a variety of economic factors that can affect their relative valuation.
We simply view these names as those with current business models that can be transferred to metaverse development.
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