Friday 01 Dec 2023
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KUALA LUMPUR (Feb 8): By 2026, 25% of people will spend at least one hour a day in the metaverse for work, shopping, education, social and/or entertainment.

In a statement on Monday (Feb 7), technology and consulting firm Gartner Inc research vice-president Marty Resnick said vendors are already building ways for users to replicate their lives in the digital world.

“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,” he said.

Gartner defines a metaverse as a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality.

It said it is persistent, providing enhanced immersive experiences, as well as device-independent and accessible through any types of devices from tablets to head-mounted displays.

Because no single vendor will own the metaverse, Gartner expects it to have a virtual economy enabled by digital currencies and non-fungible tokens (NFTs).

The metaverse will impact every business that consumers interact with every day.

Gartner said the metaverse will also impact how work gets done.

It said 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.

Resnick said 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 organisations in the world will have products and services ready for the metaverse.

“The adoption of metaverse technologies is nascent and fragmented, and Gartner cautions organisations against 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 the metaverse in order to position themselves competitively,” he said.

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