KPMG, the auditing company, recently found out that big businesses are excited about the potential of the metaverse, but are not yet convinced by the current versions of the concept.
According to major representatives of the media market, there is great potential for the metaverse in the future, but current developments are not generating much excitement.
In a published survey, 60% of market players believe in the future of the metaverse, but not until the 2030s.
More than half of respondents consider the lack of appropriate technologies as the main obstacle to the rapid development of the metaverse.
Nevertheless, 75% of respondents said that their companies have invested up to 5% of their budget in initiatives related to virtual worlds.
Despite the uncertainty surrounding the short-term prospects of the metaverse, about 50% of those surveyed announced plans to increase their investments in the metaverse, with 43% planning to do so in the next two years.
However, it remains unclear what benefits virtual worlds will bring to society, and what advantages virtual reality will offer to ordinary users.
Nokia is also eyeing the metaverse as a means to increase revenue. As part of its rebranding efforts, the Finnish company sees opportunities for itself as an intermediary in the development of virtual reality infrastructure.
According to Nokia, the internet traffic is currently dominated by videos and files, but after 2027, a significant share of traffic will be for data transmission for augmented reality processing.
However, Nokia admits that they must first prepare the infrastructure for the 6G standard to address connection delays.
Experts from the Chinese company Huawei also believe that creating a real metaverse will require significant technological advancements in several areas.
According to the company’s experts, a truly effective metaverse will not be created until there are breakthroughs in local and remote real-time rendering, high-quality video compression, and machine computing capabilities, among other things.