Big Four consultancy firm Deloitte has earmarked the industrial metaverse and spatial computing as some of the top trends in tech for the year 2024, it said in a recent report.
Released on Thursday, the company’s 15th instalment of its Tech Trends report revealed that last year, it had projected that “the metaverse, or the immersive internet, would soon graduate to a full-blown enterprise tool.” Companies would use the Metaverse to tap virtual and augmented reality (VR/AR) technologies for simulations, the report continued. Statistics on the Industrial Metaverse According to its findings, revenues from the industrial metaverse were projected to reach up to $100 billion USD by 2030, “far outpacing the consumer (US$50 billion) and enterprise (US$30 billion) segments.” Many early adopters and consumers of emerging technologies would later see their creations reemerge as enterprise productivity solutions. For Deloitte, the industrial metaverse involved “real-world physics” blended with spatial data and artificial intelligence (AI) to “replicate real-life processes.” Citing workers at a facility using remote guidance and engineers prototyping products with photorealistic digital twins, the consultancy noted that organisations typically employed a “simulation first” strategy before building facilities. Deloitte Industrial Metaverse Survey In its report, Deloitte noted that increased investments in emerging technologies like “digital twins, 5G enablement, cloud, edge, and AI” had “driven significant value and addressed long-standing pain points.” 92 percent of manufacturing executives had experimented with or implemented one or more metaverse-based use cases, with six on average, a recent Deloitte study showed. Respondents also said that they expected a 12 to 14 percent improvement in sales, throughput, and quality from industrial metaverse use case investments “in the coming years.” Process simulation and digital twins also topped the most common use cases and were a “lifesaver” where operations were “complex, pricey, and exact.” Web 3.0 and the Industrial Metaverse Spatial web (Web 3.0) also removed roadblocks between digital content and physical objects, the report noted. It also added smart glasses could allow real-time 3D (RT3D) content to interact with users in their physical environments with computer vision, geolocation, and biometric commands. Deloitte explained: “Given the possibilities, the market for spatial computing is poised to dwarf previous estimates for the metaverse, with some projections estimating upward of US$600 billion by 2032.16.” Source: XR Today
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