Popularity of metaverse
Technologies like augmented reality (AR), virtual reality (VR) and mixed reality (MR) are now maturing to offer enhanced immersive experiences to the users. It will further boost the popularity of metaverse
7 industries transformed by metaverse
Metaverse for Manufacturing
One of its prime uses for the manufacturing industry is digital twin. Create a virtual prototype and working without jeopardizing employees’ safety or productivity.
Manufacturers ship more than 5 million VR and AR headsets a year. – Dataprot
Metaverse in Retail
Retail giants are already investing billions of dollars to book their virtual space in metaverses like Decentraland, Voxels and more. Metaverse retail will empower the virtual economy as retailers will thrive to adopt this new way.
5.8 billion virtual items were acquired on Roblox
Metaverse in Automotive
The metaverse is influencing a new frontier in the automobile. The ever-changing demands of consumers and rapid technological transformations are propelling automotive companies to embrace the disruptive innovation with remote collaboration in metaverse.
The global metaverse market for automotive is projected to grow from USD 1.9 billion in 2022 to USD 16.5 billion by 2030. – MarketsandMarkets
Entertainment and media
With the metaverse in picture, the entertainment industry has become more accessible. Instead of travelling long distance, individuals can sit in a comfortable environment of their home and yet be able to attend the concert of their favorite band or singer.
10.7 million players saw Marshmello perform live in a Fortnite concert. – Banklesstimes
Metaverse in Healthcare
The metaverse enable patients and healthcare providers with ease of access to patients’ data in real-time for accurate diagnosis. Moreover, psychiatrists and psychologists can offer immersive environments in aversion therapy to patients with mental illness.
The predicted growth of the metaverse in healthcare market share from 2021 to 2026 is USD 3.80 billion at a progressing CAGR of 33.83%. – PRNewswire
Banking and finance
With non-fungible tokens (NFTs) and cryptocurrencies, people can transact, sell and purchase virtual goods. Also, banks can set their crypto-based financial institutes that will allow their customers to visit the branch and perform banking activities without going to the location physically.
The metaverse market share in finance is expected to increase to USD 50.37 billion from 2021 to 2026. – Financial Express
Real estate
Virtual land appears to yield a better ROI than real estate. For real estate investors, virtual land in the metaverse offer lucrative opportunities. Indeed, there are many possible use cases for metaverse real estate.
The metaverse real estate market share is expected to increase by USD 5.37 billion from 2021 to 2026. – PRNewswire
Find out more about some real-life use cases where metaverse technology is making real difference at https://www.softwebsolutions.com/resources/industries-that-transformed-by-the-metaverse.html