So far, with platforms like Sandbox and Decentraland, it seemed that metaverse could help only in alluring gamers. Metaverse for business seemed a distant thing.
However, it is not valid.
Since Facebook announced its upcoming metaverse endeavors, every potential industry is initiating to dip its toes in the metaverse.
In fact, much like the gaming and education metaverse, the enterprise metaverse has turned into a big thing.
The global metaverse market will hike to $100.27 billion by 2022 and $1527.55 billion by 2029. (Fortune Business Insight)
The numbers show that metaverse is undoubtedly buzzing around all the nooks and corners of potential industries.
At present, all companies, large and small, are striving to establish a sustainable presence in the virtual world. In that case, metaverse land is the most lucrative realm to grow business leaps and bounds.
These days, industries are going through a rapid metamorphosis. Enterprise metaverse solutions are the only way to make the changes sustainable.
What Is Enterprise Metaverse?
- By and large, metaverse ecosystem stands on the pillars of trending technologies like Augmented Reality, Virtual Reality, 3D modeling, Blockchain, NFT, Etc.
- The metaverse is the seamless mingling of the real and digital world. Consequently, the metaverse land is a remarkable virtual society where people can work, interact, play, and make transactions. Read more: How to purchase land in metaverse
- The themes and business opportunities are taking shape around this fundamental concept.
- Metaverse platforms hold the potential to transform how, when, and where companies interact with their customers. Moreover, the metaverse realm is also a part of extended reality. So, it enables companies to offer unique customer experiences, presenting information in a novel way.
Now, the question is, what does metaverse imply for business?
- The enterprise metaverse refers to developing and deploying a 3D simulated environment solely for business operations.
- The business operations may vary from customer interaction, product/service promotion, staff training, employee recruiting, organizing social events, and many more.
- Enterprise metaverse is a tool company can adapt and navigate to meet their business goals.
- For instance, organizations invest in developing websites to establish their digital presence. Likewise, metaverse for business will help companies expand their digital presence to a new horizon.
- The immersive and 3D simulated metaverse space can help employees work remotely, and companies can adopt flexible work practices.
- Moreover, organizing video conferences across geographical barriers will become effortless in the metaverse business space.
The Opportunities Enterprise Metaverse Bring To The Business World
Gartner has made a crucial prediction on metaverse.
The report goes like this.
Almost 25% of people will spend at least an hour a day in the metaverse by 2026.
So far, big businesses like Google, Disney, Microsoft, Gucci, and Nike have already joined metaverse hype.
On the other hand, Deloitte has taken initiatives to aid organizations in navigating metaverse opportunities.
Hence, small to large business enterprises must consider the business opportunities metaverse offers. Here are some of the most profitable opportunities enterprise metaverse offers:
Refined Education And Corporate Training
Metaverse learning space has already created tempests around the education sector. The real-time interaction in the metaverse virtual world is something educators, and learners look forward to soon.
And why not?
- After all, a metaverse learning space will help educators pass on their knowledge to students effectively. Likewise, students can also acquire knowledge in a meaningful way.
- Similar to educational institutions, enterprises can also make use of virtual learning platforms for their employee training purposes.
- Business organizations can harness the power of metaverse to train their in-house and remote employees.
- Both trainers and employees across the globe can meet in a personalized metaverse training space and exchange knowledge. Employees can experience a better learning outcome.
- Moreover, companies can offer training sessions separately for seasoned employees and new joiners.
- Simultaneously, the metaverse may aid in detecting issues and facilitate training module modifications.
- Additionally, corporates do not require to invest in specified infrastructure to offer immersive training facilities to their employees. The training sessions will already exist in the metaverse.
Recently, Edverse: an education metaverse, was launched which focuses on decentralizing and democratizing education and opening a gateway to endless possibilities. This denotes that metaverse education is future of learning.
Metaverse For Retail and Fashion Industry
- The retail and fashion industry are other two potent grounds for metaverse experiments.
- These two industries hold immense scopes for testing out the commercial potentialities of enterprise metaverse.
- Even the thought of virtual shopping experiences in the form of digital avatars creates thrilling sensations among people.
- Fashion boutiques can showcase their latest collections in metaverse space.
- The buyers can go for virtual outfit trials before they purchase the dresses.
- Consequently, it will enhance the customer experience and brand value of companies.
Events In Metaverse Space
In recent years, virtual events have grown in popularity.
The global virtual event market will hit $17.05 billion in revenue by 2028. (Future Market Insights)
- Event planners can develop and offer virtual events using metaverse technology.
- Since metaverse makes someone feel no less than real-world experience, the acceptability of virtual events among corporate clients is a sure thing.
- Clients need to grab tickets and immerse themselves in the virtual events.
- Moreover, integrating immersive technologies in organizing events will bring an extra star to your company’s values.
Leveling Up Business Operations
- Companies worldwide have already leveraged Augmented Reality and Virtual Reality to fine-tune their business operations.
- However, metaverse space will boost employee collaboration and effortless data transfer across departments to another level.
- Whether learning new technology in the workspace or the equipment operations, workers can coordinate with each other and achieve their goals.
Meetings And Conferences
- After the pandemic, meetings over Zoom, Google Meet, Etc., have become common worldwide.
- Metaverse will bring a more progressive yet subtle change in meetings and video conferencing.
- Employees can join immersive meetings and conferences by simply wearing VR goggles.
- In the metaverse space, employees can communicate and discuss works with their fellows beyond the geographical barriers.
- The Metaverse virtual room and its digital avatars will make them feel the same way they experience real-world meetings and conferences.
To conclude, the metaverse is nothing but an expandable virtual world. The rise of metaverse to sky-high is inevitable. This remarkable technology will shape society and its culture at a rapid pace.
Additionally, from Apple and Google to Microsoft, all are embracing metaverse to stay ahead of the game. Edverse is pioneering new possibilities through brilliant metaverse-centric learning solutions.
Gaming and education metaverse is growing prominently. However, the enterprise arena is also turning into the key frontier for the metaverse simultaneously.
Microsoft has already developed its enterprise metaverse application. With Microsoft Mesh, one can digitally teleport himself to a remote location for virtual interactions.
Hence, don’t get late to list down your client’s concerns and push them to your personalized enterprise metaverse.