Metaverse Is Not Just Gaming
Most people associate Metaverse with computer games. That makes perfect sense because most people first experience Metaverse through the various extremely popular Metaverse games. For example, Fortnite has 350 million registered users as of the end of 2021 (source: Epic Games). As of Q2 2021, Roblox has 43.2 million active users. Microsoft’s Minecraft has 131 million users as of 2020. I am not even including the explosive growth of users in Sandbox and Decentraland. No wonder most people associate the metaverse with gaming. But increasingly we are seeing Enterprises moving into Metaverse offering B2C and B2B business models.
Virtual Meetings & Events
Just like the killer applications of Web 1.0 was the email. Connecting people is always an important application of the internet. This is especially true in the Pandemic era. In August 2020, Facebook launched a test of Horizon Workrooms, a virtual reality workplace app in which users of the company’s Oculus Quest 2 headsets can hold meetings as cartoonish and avatar versions of themselves. The app also allows workers to collaborate with others using a whiteboard, stream what’s on their laptops and use their hands instead of remote controllers, among other features.
Not to be undone, Microsoft in November announced that they will unveil Mesh for Microsoft Teams in 2022. The feature combines the mixed-reality capabilities of Microsoft Mesh, which allows people in different physical locations to join collaborative and shared holographic experiences, with the productivity tools of Microsoft Teams, where people can join virtual meetings, send chats, collaborate on shared documents and more. Microsoft definitely has the advantage of being the producer of the Office suite. You can be sure that there will soon be a Metaverse version of the Office suite.
OPPA, which is an event management company in Hong Kong, organizes business events, exhibition shows and corporate orientations for both physical as well as virtual life. OPPA develops its own technology to record the whole event in digital format and transform participants into avatars then broadcast on media channels instantly. Studiology is the production room with 3 dimension (3D) immersive technology to create digital contents, especially videos. Companies can collaborate with them to structure virtual businesses in the metaverse.
The virtual world in Metaverse is increasingly being used in training. For example, Microsoft will deliver to the U.S. Army more than 120,000 devices based on its HoloLens augmented reality headset. The contract will be worth up to $21.9 billion over 10 yr.
According to Valuates Report, the global Virtual Event Platform Market generated USD 1,006.6 Million in 2020, and is estimated to garner USD 1,847.9 Million by 2027, witnessing a CAGR of 9.1% from 2021 to 2027 [1].
Virtual Factory
On 17 Dec 2021, Boeing worked with Microsoft to build an immersive 3D engineering design system to improve the quality and safety of aircraft. Their system will connect with robots and HoloLens headsets around the world to unify sprawling design, production and airline services operations. The Boeing aircrafts will be built and linked with virtual 3D digital twin replicas of the jet. The production system will be able to run simulations. The system empowered by artificial intelligence (AI) will provide relevant data, such as weather conditions, machine performance and pilot response, to generate simulation tests. The aircraft design can be tested with millions of scenarios before the aircraft is built.
Omniverse is Nvidia’s platform for allowing creators, designers and engineers to collaboratively build virtual worlds. It’s the company’s platform that brings together design tools and assets from first- and third-party applications into a single hardware and software ecosystem. Until now, Omniverse and the various Nvidia tools that support it were in beta, but at CES 2022, the company took off the beta label and made Omniverse generally available to creators.
The company says Omniverse has already been downloaded by almost 100,000 creators and with today’s update, it is bringing a number of new features to the platform, too. These include the Omniverse Nucleus Cloud, a service for sharing large Omniverse 3D scenes that will make it possible for creators and clients to collaborate on scenes in a way that’s similar to working on a cloud-shared document (and without having to move a ton of data for every small change).
One of the cool applications of the Omniverse is the digital twin of a factory. In 2021 the BMW Group and NVIDIA are generating a completely new approach to planning highly complex manufacturing systems — with the Omniverse platform. The virtual factory planning tool integrates a range of planning data and applications and allows real-time collaboration with unrestricted compatibility. As industry leaders, the BMW Group and NVIDIA are setting new standards in virtual factory planning.
NVIDIA monetizes Omniverse Enterprise through a subscription model starting at $9,000 per year for a workgroup of 2 Creators, 10 Reviewers, and 4 Nucleus subscriptions. The company believes there are 40 million addressable creators globally, implying a TAM of at least $180 billion for its current Enterprise subscription offering.
Total Market Potential of Metaverse
As the Metaverse is still relatively new and is constantly revolving, more enterprise applications will appear. We have already seen B2C applications like e-commerce and advertising growing rapidly.
According to Emergen, the global metaverse market size reached USD 47.69 Billion in 2020 and is expected to register a revenue CAGR of 43.3% during the forecast period. [2] Another research organization Market Research Future (MRFR) estimated that the “Global Metaverse Market” market will reach USD 21.91 billion in 2020 and will grow at a whopping CAGR of 41.7% from 2021 to 2030. [3]
ACH Worldwide Limited, Your Partner In Metaverse
The Metaverse opportunity is huge, and every company needs to develop its Metaverse strategy. ACH, which is the business consultancy firm with a group of scholars and professional experts, is establishing its own metaverse ‘GreatMeta’. ACH will lead the traditional businesses into the metaverse, provide feasible advice, guide them in e-commerce operations and help their businesses grow in this new ecosystem.
ACH Worldwide Limited provides the following services:
S — Starting your business in Metaverse; Structuring your business for Metaverse;
O — Operating your business in Metaverse,
L — Learning the opportunities and transforming your business in Metaverse
A — Advising of Tokenomics, Whitepaper, Valuation
R = Fund-Raising in equity as well as crypto markets
Please contact ACH to find out more:
Or visit ACH website to get more information:
References:
https://Market-Worth-USD-21-91-Billion-In-2020-and-is-Predicted-to-Grow-at-41-7-CAGR-by-2030-Report-by-Market-Research-Future-MRFR.html