Korea Advanced Institute of Science and Technology (KAIST) intends to develop a virtual campus in Kenya, which will start in September 2023 in Konza Technopolis in nearby Nairobi. The university desires to develop a metaverse that will run classrooms and provide an immersive learning opportunity on campus through the use of augmented reality, virtual reality, and eye tracking technology. Soonchunhyang University in Korea arranged a virtual welcoming event for freshers to participate as avatars.
A conscious effort is made by the subject matter experts to analyse how some business owners succeed in maintaining a competitive edge while the others fail to do so makes the research interesting. A quick review of the realistic competitors makes the overall study a lot more interesting. Opportunities that are helping product owners' size up their business further add value to the overall study.
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/metaverse-market
Some Key Highlights From the Report
- Software segment is expected to register a substantially rapid revenue CAGR during the forecast period as companies are investing considerable efforts into developing developer-focused gaming platforms that enable users to create games or 3D environments. AI-powered 3D engines enable creation of gaming content in real-time, allowing for an diverse range of situations and making games highly engaging.
- Fashion segment is expected to register a significantly robust revenue growth rate over the forecast period due to rising development of virtual runway shows platforms like IMVU. From partnering with online community artists to buying avatar clothing, IMVU's virtual runway has received much interest as more fashion businesses identify immersive experiences as an important part of the business strategy. Animal Crossing, which is a game from Nintendo Co., Ltd., has brands such as Anna Sui, Valentino, and Sandy Liang design exclusive garments for metaverse.
- North America is expected to register a substantially robust revenue growth rate over the forecast period due to major presence of companies such as Facebook, Inc., Nvidia Corporation, Epic Games, Inc., and Nextech AR Solutions Corp. in the US and Canada focusing on develop metaverse platforms.
- Major companies in the market report include Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Roblox Corporation, Unity Technologies, Inc., Lilith Games, and Nextech AR Solutions Corp.
- The concept has gained robust traction, and on 29 October 2021, Facebook Inc. announced that the company would henceforth (29 October 2021) be known as Meta Platforms Inc., or ‘Meta’ for short. The company would be committed to developing the immersive digital world known as the metaverse.
- In August 2021, Nextech AR Solutions Corp. announced completion of its acquisition of Arway Ltd., which is a spatial computing firm based in the United Kingdom. This acquisition offers Nextech AR a spatial mapping platform that is pivotal to the development of mini-metaverses, which the business is eagerly pursuing.
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/metaverse-market
Emergen Research has segmented global metaverse on the basis of component, platform, offerings, technology, application, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Hardware
- Displays
- eXtended Reality (XR) Hardware
- Haptic Sensors & Devices
- Smart Glasses
- Omni Treadmills
- AR/VR Headsets
- Software
- Asset Creation Tools
- Programming Engines
- Platform Outlook (Revenue, USD Billion; 2018–2028)
- Desktop
- Mobile
- Offerings Outlook (Revenue, USD Billion; 2018–2028)
- Virtual Platforms
- Asset Marketplaces
- Avatars
- Financial Services
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Blockchain
- Virtual Reality (VR) & Augmented Reality (AR)
- Mixed Reality (MR)
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Gaming
- Online Shopping
- Content Creation
- Social Media
- Conference
- Virtual Runway Shows
- Aircraft Maintenance
- Others
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Fashion
- Media & Entertainment
- Education
- Aerospace & Defence
- Others
