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5 Major Development Trends of the Metaverse in 2023
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Boopathi (IV010286301)



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Since Facebook changed its name to Meta last year and defined it as "a spatial computing platform that provides digital experiences", the term metaverse will receive more attention from people in various industries in 2022.

According to data from the research firm Statista, more than 35% of people are willing to spend $700 to $1,000 on VR equipment so that they can personally experience everything they experience in the Metaverse Development .

In order to uncover the truth of the Metaverse, foreign industry media invited industry leaders to analyze and discuss the development trend of the Metaverse in 2023 and beyond, which is worthy of attention and reference.

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1. Realizing the large-scale development of Metaverse through hardware subsidies, operators usher in opportunities

Roy Barak, CEO of Amdocs Vindicia, said, "Past experience has shown that subsidized hardware is a way for low-cost products to enter the market, which is critical for mass adoption. For example, the iPhone is in the early stages of entering the market. In 2023, I think hardware makers should start looking at the mobile industry, offering installment payment plans for Metaverse hardware via Internet or wireless contracts to lower the cost of entry for consumers."

He noted that the choice to bundle Internet connectivity with digital entertainment and consumer services has the potential to change the course of the Metaverse. As pay TV continues to lose ground and streaming momentum slows, the possibility of bundling new experiences like metaverse and cloud gaming is also a good option for CSPs.

2. Enterprise development benefits from pioneers delivering more concrete metaverse use cases

Ric Garner, general manager of NTT DATA, said, "In 2023, many enterprises will make great strides in delivering more specific metaverse use cases that will better connect people and thus create more opportunities."

We will also see early adopter visionaries drive more use cases as more success stories roll out. In the end, the huge advantages of the Metaverse will drive enterprise scale, increasing business and opportunities in VR.

3. Metaverse will no longer be exclusive to gamers, but will expand the application scenarios

Software AG chief evangelist Bart Schouw said, "Although the Metaverse still risks repeating the mistakes of 'Second Life', this is not the case. What we are seeing is that Meta is likely to be afraid of missing out on the development opportunities of the Metaverse. So they acted prematurely. I expect the Metaverse to be a 'merged reality' playground."

He noted that while consumers will be limited to gamers who already spend more time in virtual worlds, businesses will likely find many ways to use the Metaverse to enhance collaboration between teams without traveling. And in manufacturing, people will see higher level applications of digital twins combined with various kinds of artificial intelligence and start to make progress.

4. Not limited to office collaboration, Metaverse has great potential in multiple industrial fields

Brian Jackson, Principal Research Director, Info-Tech Research Group, said, “The Metaverse is emerging as a viable option in hybrid work environments to better collaborate around complex objects and environments. Holographic communication systems project realistic 3D images of people onto In a remote environment, a user wearing an AR headset can interact with it."

In particular, Metaverses Development company have enormous potential value in training, design, and even mental health, and some companies are investing in prototypes of metaverses in this area. Digital twins can be very beneficial for business operations with many moving parts, such as manufacturers, to better plan complex logistics and revamps of production lines and production facilities.

5. The metaverse continues to attract money, but the tech industry must define and clarify its limits

Perforce gaming and virtual production evangelist Katie Cole said, "The huge investment shows that the metaverse is not going to disappear overnight. And the metaverse is so strangely attractive that companies like Nike are selling an NFT for more than $130,000." Sneakers, Epic Games announced that it has received US$2 billion in financing from Lego Group Holdings, Sony hopes to promote digital entertainment through the metaverse, Walmart enters the metaverse to provide immersive shopping experience..."

These scenarios highlight the potential promise and profits of virtual worlds. However, in order for the Metaverse to take off, the industry must define and clarify what it is? and how to get involved? For most people, the metaverse is still a deeply overfunded, confusing field that needs to further prove itself in the future.


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