Did you know? The global metaverse market is predicted to reach $900 billion by 2030, driven by its implementation across industries such as real estate, education, healthcare, and retail.
According to a survey by Gartner, at least 45% of the global population will spend an hour daily in the metaverse for work, gaming, or shopping. Plus, 55% of companies are expected to offer metaverse-based services by then.
Industries are adapting to the change and leveraging the power of the metaverse. This new transformation is changing how companies do business, engage with customers, and host events. From immersive training, workshops, and virtual product experiences to remote collaboration and customer interactions, the metaverse is opening doors to new possibilities.
The Impact of Metaverse on Top 5 Industries
Here is the list of the top 5 industries where the metaverse is generating new opportunities and driving innovation:
1. Retail
The metaverse is reshaping this industry by helping companies offer 3D virtual stores where customers can shop without any geographical limitations. Immersive technology can even let users try on clothing or visualize furniture in their homes.
2. Real Estate
The real estate industry is making use of the metaverse by showcasing properties in virtual 3D tours, eliminating the need to travel. Buyers can even get a complete look at a building or house that’s not been built yet.
The combination of virtual and physical real estate enhances the purchasing process and widens the industry’s scope to reach more buyers.
3. Education
The education industry is also leveraging immersive technologies like the metaverse. From virtual campus tours and admission fairs to convocation and networking events, universities are using the metaverse in full force to increase their reach and make them stand out in this digital age.
With the integration of AI, they are also implementing AI counselors, eliminating operational costs, and enhancing student support.
4. Banking and Finance
The metaverse is enabling better customer services and experience through virtual banking branches and AI-driven experiences. JP Morgan a known company from the banking and finance industry has leveraged the metaverse to provide clients 24/7 support without any delays.
5. Healthcare
The metaverse is breaking barriers in this industry, enabling remote diagnosis and virtual consultations. Training to the surgeons can be given in a safe virtual space, reducing the possibility of any mishappening.
Why Invest in the Metaverse?
Investing in the metaverse comes with many new opportunities for businesses to enhance customer experience, operations, engagement, and revenue streams. Here are some key benefits you must know:
1. More Customer Engagement
The metaverse helps businesses offer more immersive and engaging experiences that capture the attention of customers more than traditional formats. Companies can showcase their product in a 3D environment, host virtual events, and provide more satisfying customer services.
As per research, over 25% of global consumers are interested in virtual experiences, which highlights the strong possibility of having more engaged customers in the metaverse.
2. New Revenue Streams
The metaverse unlocks the door to new revenue streams through digital services, virtual property tours, and immersive events. For example, virtual real estate is booming, with some digital properties selling for millions.
The investment in immersive technology in the retail sector is expected to reach $18 billion by 2025.
3. Better Brand Visibility
As more companies enter the metaverse, early adopters can get a competitive edge. Businesses can host networking events, establish virtual stores, and collaborate with international investors in these virtual environments.
According to a PwC report, by 2026, about 50% of people will spend time daily in the metaverse, making it an important space for increasing brand visibility.
4. Cost Savings and Efficiency
By shifting certain events and operations to the metaverse, businesses can save costs on travel, logistics, and physical space. Virtual events, workshops, training, and conferences can take place in the metaverse, promising long-term savings.
Conclusion
The metaverse is revolutionizing every industry, offering new ways to do business and generate revenues. With its potential to create new business opportunities, investing in the metaverse is crucial for businesses to keep moving forward in this digital age.
Ready to unlock the business possibilities in the metaverse? ibentos is your ideal platform for hosting immersive virtual events in the metaverse. Connect with ibentos today.
FAQs
1. What is the Metaverse?
The metaverse is a digital, immersive world that creates a space where people can interact with each other in real time. Basically, it’s like a world where people can socialize, work, shop, play games, and even attend events, all within a 3D virtual space.
2. Do I need to adopt any technology to enter the metaverse?
To enter the metaverse, you don’t need any technology or any technical skills. With ibentos metaverse platform, you only need basic technologies like computers, laptops, or phones, even VR headset is not necessary.
3. Can the metaverse help in reducing carbon footprint?
Yes, absolutely. By shifting their operations or events to the metaverse, businesses can reduce the need to travel and build physical infrastructure, leading to lesser carbon emissions.
4. Do I need to be a tech-savvy business for using the metaverse?
No, you don’t have to be a tech-savvy business to unlock the power of the metaverse. ibentos metaverse platform is user-friendly and needs no expertise in coding. Whether you want to host events or build virtual stores, everything is made simple with an intuitive interface.
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