The metaverse is predicted to be $5 trillion in value by 2030 as per leading analysts McKinsey & Co.’s new research. These figures show that the metaverse may be just too big to ignore.
Experts agree that the metaverse will influence the business ecosystem and leave imprints on all sectors.
- For example, if we talk about the educational metaverse, the McKinsey report highlights that metaverse learning will touch $270 billion by 2030. (Venture beat).
With the rise of technologies like AR, VR, NFT, Blockchain, and Artificial Intelligence, coupled with the onset of 5G networks, the metaverse is likely to be revolutionary.
With all the buzz surrounding it, people are eager to know more about the metaverse and how to enter the metaverse to expand their business.
Let’s take a look at the key Metaverse Trends that will redefine future workplaces.
Before we start reading this, let’s learn how to enter the metaverse.
The metaverse is expected to become the next business center for organizations. The enterprise metaverse is an interactive, expansive space that will connect customers and brands through unique experiences.
The metaverse enables the creator economy and individuals or enterprises can create, and monetize their offerings. Businesses can conduct their operations as they do in the real world. They can build personalized immersive experiences and develop their own concept of a metaverse.
The metaverse empowers businesses with the necessary technology to conduct business remotely, intelligently, and smartly. Metaverse trends indicate that digital twin technology will benefit the business ecosystem.
Many corporates can cut down on costs and increase efficiency through metaverse corporate training and development as well as hiring and recruiting. Manufacturing firms can develop prototypes of all types of products before release. Testing of products in the metaverse saves time and money.
The metaverse is built on blockchain technology and encourages the Web 3-powered decentralization vision. The vision is to ensure that there is no monopoly and as such entities will be run as DAOs or decentralized autonomous organizations.
Metaverse DAOs are organizations owned by a community of a specific metaverse platform user or investor. They abide by a voting process and all members can participate in it.
This is a metaverse trend that will lead to the rise of virtual democracies and user-run communities. NFTs are a step in this direction. Many leading brands have ventured into NFT development.
Supporting post: NFTs and Metaverse
Popular platforms like Decentraland are also built upon this vision. Similarly Adverse, a leading metaverse developer aims to build a unique and decentralized educational metaverse.
There are many firms looking to build corporate-owned metaverse as well and 2023 will bring in further developments. Expansion of the decentralized metaverse is one of the most crucial metaverse trends.
Metaverse Avatar Technology
Metaverse Avatar technology is one of the most thrilling metaverse trends expected to boom. With advancements in photorealistic and motion capture technology and ready-to-use platforms like Zepeto, our avatars just got more real-like and versatile.
Experts are of the view that in 2023, digital avatars will see the rise of AI-powered autonomous avatars as well.
Also, learn how to turn NFTs into avatars in the metaverse
The metaverse will capture as well as mine a large volume of data in real-time to provide meaningful insights. User experience in one aspect of the metaverse can be mined in another to personalize it.
Data science can be leveraged to drive automated predictions and appropriate responses. Data science will be an important metaverse trend in 2023.
This is one of the significant metaverse trends that has already caught on and is predicted to grow further.
- The global Metaverse in the Education market stood at $4.39 Billion in 2021 and, by 2028, is expected to grow at a CAGR of 39.50% to reach $ 32.39 Billion.
The metaverse is acclaimed for the profound learning revolution that it can bring to the education sector. Virtual classrooms will be immersive and as natural as real life, if not better. The transfer of knowledge and skills will be possible through VR labs where active learning and student-focused learning will be the norm.
Edverse is a leading educational metaverse development company that is guiding institutes on how to enter the metaverse.
The metaverse is arriving. We have just scraped the surface as to the new emerging metaverse trends. As technology evolves, there will be much to discover and learn about the metaverse.
- Its use case is expanding. Gartner has predicted that 40% of large corporates will work on projects using web3 and AR in the metaverse.
Corporates and Educational institutes should think about planning a strategy to help them take advantage of it. Understanding the metaverse will enable a better strategy. The metaverse will take businesses into newer dimensions.