Metaverse

40 percent more companies discussing the metaverse

Wednesday, April 27, 2022

GlobalData has announced that the metaverse has been discussed by 40% more companies during quarter 1 of 2022. They also discussed how enterprises are the prime market for the metaverse, and how the market competition will become intense as the tech giants battle for dominance of the market.

Companies worldwide are continuing to talk about the metaverse, according to GlobalData, which found that 40% more companies mentioned 'Metaverse' in their company filings documents quarter-on-quarter. The data and analytics company's 'Company Filing Analytics' database reveals that mentions crossed the 500 mark in Q1 2022, on par with Q4 2021.

Metaverse discussed by 40% more companies during quarter 1 of 2022

Rinaldo Pereira, Business Fundamentals Analyst at GlobalData, comments: "The main contexts for metaverse mentions included virtual avatars and improving experiences for remote workers. Client engagement and collaboration to improve buyer experiences via the metaverse also caught firms' attention."

"While a mainstream B2B metaverse will be at least a decade away, companies are taking smaller steps to improve employee onboarding and experience. A rising tide lifts all boats, so identifying specific B2B use cases such as digital twins in the metaverse could help companies, particularly manufacturers, to improve productivity. Such technologies could help companies draw up alternate go-to-market and production strategies with the pandemic causing a shift towards remote workflows."

GlobalData's Filing Analytics database also reveals that Mega Cap companies often paired 'metaverse' with keywords such as 'Invest', 'Investing', 'Clients', and 'AI'. Some key examples were Accenture, which expects to continue investing in the metaverse, and Microsoft, which is discussing gaming-related metaverse investments.

Rupantar Guha, Principal Analyst in GlobalData’s Thematic Team comments: "Enterprises are the prime market for the metaverse in 2022. New use cases are emerging, as Nvidia, Microsoft, Meta, and HTC bolster their metaverse capabilities and start-ups develop specific solutions around data visualization, collaboration, and training. Technologies such as artificial intelligence, augmented reality, virtual reality, and digital twins that enable the future of work will converge together to help create the enterprise metaverse."

"Consequently, market competition will intensify as the tech titans battle for market dominance, and non-tech brands track their progress for potential revenue and operational improvements."