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NEW YORK, April 30, 2024 /PRNewswire/ -- The metaverse has had many definitions, all of which have been too vague and misunderstood by the public. One general definition is "a persistent virtual environment that allows access to and interoperability of multiple individual virtual realities." Global technology intelligence firm ABI Research takes a more granular definition of the metaverse, focusing on digital twins, simulations, edge and cloud computing, and professional services to define it. With this granular approach, ABI Research has valued the current metaverse at US$36 billion, forecasting the market to reach US$66.7 billion by 2030, with a CAGR of 9.7%.
"Clearly defining the metaverse and its potential is essential for its adoption. Often the metaverse has been seen as a gaming and social realm, with Roblox and Epic Games taking the lead. Yet its applications reach much further into the enterprise domain. This new landscape, driven by digital twins, simulations, and computing technologies, is gaining equal relevance and attention as the 'consumer' metaverse," explains Matilda Beinat, Augmented and Virtual Reality Research Analyst at ABI Research.
While Meta's rebrand made the metaverse more well known and vertical inclusive, enterprises have been identifying and leveraging metaverse value for the past few years. Recently, Siemens has partnered with NVIDIA to build an industrial metaverse by increasing AI-driven digital twin uses that can help upgrade the industrial automation ecosystem. Companies like IBM, Microsoft, Ansys, Cisco, AWS, Accenture, Qualcomm, and a myriad more, have been contributing to the creation and the usage of the metaverse for tangible results within enterprises—3D and spatially aware simulation and visualization, robust remote worker support, and enhanced user devices through cloud compute all deliver enterprise value.
Although challenges remain, especially in terms of security and privacy, opportunities in different verticals, such as healthcare, manufacturing, education, and automotive, are more present every day. "Companies that have been integrating these metaverse technologies are seeing significant returns on investment, improving customer satisfaction, and a boost in overall company performance," Beinat concludes.
These findings are from ABI Research's Metaverse State of the Market report. This report is part of the company's Augmented and Virtual Reality research service, which includes research, data, and ABI Insights.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
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Deborah Petrara
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