The Metaverse vs The Digital Twin

DUBLIN, May 13, 2022 / PRNewswire / – The “Metaverse Technology Market Outlook” report has been added from ResearchAndMarkets.com offer.

According to this latest market research, the Metaverse Technology market was rated for $ 32 billion in 2021 and is expected to reach $ 224 billion in 2030. Software accounted for more than 80% of the market in 2021. Metaverse technology is expected to generate revenue opportunities across multiple verticals, especially for companies developing virtual platforms and their components, semi-drivers and chips that provide ultra-realistic graphics and related software.

Metaverse technology market – highlights

  • In augmented reality (AR), head-mounted screens (HMDs) and heads-up screens (HUDs) are used the most. The three main types of devices used in virtual reality are HMDs, projectors and screen walls and devices for tracking motion. Autonomous AR / VR devices eliminate the need for personal computers or smartphones to deliver a metavers experience to users, as these devices have built-in monitors and processors. In terms of unit shipping, AR units accounted for only 1% of the total metaverse hardware market in 2020 and are expected to have over 90% share by 2030.
  • The consumer segment will have the largest share (~ 29%) of the market by 2030, including gaming and entertainment applications where augmented reality is used to create 3D objects in the real world. The booming gaming, sports and entertainment sectors are fueling the use of the meta-verse in the consumer industry. VR technology also delivers remarkable results when it comes to visual effects when used in gaming and sports broadcasts.
  • The metaverse market in APAC is expected to grow with the highest CAGR of 25% between 2022-2030. North America dominated the market in 2021. Increasing use of smartphones, growing adoption of smart devices and growing demand for AR / VR in various applications are the main factors driving the growth of the metaverse market in North America. However, the APAC market is expected to overtake the metaverse market in North America by 2028. The Metaverse market is expected to experience significant growth in the coming years driven by the increasing prevalence of Metaverse in China, Japanand South Korea.
  • The presence of companies such as Blippar, India, Engine Creative and Holition, which are actively involved in the AR / VR industry, is expected to drive the growth of the UK metaverse market. The digital shift in the UK is expected to boost growth in the country’s expanded reality market. The UK is becoming a hotbed of AR devices. Demand for metaverse is expected to increase in the UK, primarily from the gaming industry, as the country has one of the largest gaming industries in the world.
  • In the meta-verse, users are connected to their avatars or other digital representation, and the information collected about their activities is personal data, which is subject to existing laws on privacy and data protection. Privacy regulations may vary depending on the physical location of an organization or user, the type of organization or user, the type of data collected, the type of data collected and the purpose of the data collection. Organizations will be subject to the General Data Protection Regulation (GDPR) and UK data protection laws

Metaverse vs Digital Twin

Digital twins enable the creation of rich digital models of physical or logical assets that can be products or complex environments. Such models can be animated and synchronized with the physical world, which serves as the basis for activating the metaverse platform. Anheuser-Busch InBev, one of the largest brewers in the world, uses the metaverse application. AB InBev uses Microsoft Azure Digital Twins to create a complete digital model of its breweries and supply chain. AB InBev uses mixed reality on its digital twin for remote support that helps share efficiency across geographic areas.

Virtually digitized objects in the metaverse are not digital twins. A digitized object, when embedded with true metadata and live data streams from simultaneously superimposed sensors, makes it a digital twin. According to David Weir McCall from Epic Games, the meta-verse is the digital world that coexists with the physical world and allows people to live, work and play side by side, and the digital twin is the foundation on which the meta-verse is to be built. The digital twin in the meta-verse allows for the creation of a virtual world where live data is fed and it will work exactly as it would in the real world. Examples include retail stores where the shopping experience is optimized in real time and the shelves are always full.

Metaverse

  • The metaverse does not have to be linked to an existing physical asset
  • The metaverse does not need sensor data to exist. However, real time can be used for different applications
  • The metaverset requires a level of immersion in which a user must immerse themselves in a virtual world

Dual digital

  • The digital twin requires an object or process that can be represented. Any change in the physical world is reflected in the digital representation
  • The digital twin depends on data integration. Sensors attached to a real-world asset are used where real-time data forms the bridge connecting its virtual counterpart
  • The digital twin is available to anyone, even on a computer, smartphone or tablet

Key questions this study should answer

  • What is the market size and forecast for the global Metaverse Technology market?
  • What are the driving factors and influences of digitization that are shaping the global Metaverse Technology market in the forecast period?
  • What products / segments / applications / areas should be invested in during the forecast period in the global Metaverse Technology market?
  • What is the competitive strategic scenario for opportunities in the global Metaverse Technology market?
  • What are the technological trends and regulatory framework in the global Metaverse technology market?

Main topics covered:

1. Introduction

2 Summary

3 Metaverse Drivers & Challenges
3.1 Drivers
3.1.1 Increased number of players
3.1.2 Increase in immersive and competitive games on mobile devices
3.1.3 Emergence of 5G
3.1.4 Increase investment in the meta-verse
3.2 Risks and challenges in the meta-verse
3.2.1 Cyber ​​security
3.2.2 Currency and payment system
3.2.3 Reputation and identity in the meta-verse
3.2.4 Upgrading infrastructure
3.3 Risk of doing business in the metaverse

4 Metaverse legal issues

5 layers of meta verse

6 The economic impact of the metaverse

7 use cases, by industry
7.1 E-commerce and retail
7.1.1 Gucci is expanding its presence on Roblox to develop Gucci Garden
7.1.2 Chipotle hosted a virtual restaurant on Roblox to give customers a Halloween experience
7.1.3 The fashion brand Gucci collaborated with Sandbox
7.1.4 The luxury fashion house Balenciaga collaborated with Fortnite
7.1.5 Ralph Lauren launched a winter-themed digital collection on Roblox
7.2 Sports and entertainment
7.2.1 Vans launched the Vans World skatepark experience in Roblox
7.2.2 Nike has partnered with Roblox to create a virtual world called Nikeland
7.2.3 Roblox hosted EDC’s Metaverse Dance Music Festival
7.2.4 Warner Bros. has partnered with Roblox to create a virtual movie launch event
7.2.5 An Indian couple hosted the country’s first metaverse wedding reception
7.2.6 Tennis Australia has entered into a partnership with Decentraland to host the Australian Open
7.3 Music
7.3.1 Pop stars and singers conducting metaverse concerts
7.3.2 Muse collaborated with Stageverse for metaverse concerts
7.3.3 Epic Games in collaboration with BTS
7.4 Company
7.4.1 Accenture partnered with Microsoft to develop a virtual office
7.4.2 TCImage to design buildings in a virtual world using NVIDIA Omniverse
7.4.3 Meta-platforms launched Horizon Workrooms
7.4.4 Is not fox and PWC bought land in the metaverse
7.4.5 Marriott Bonvoy revealed digital art in the meta-verse
7.5 The Government
7.5.1 Barbados become the first country to establish an embassy in the meta-verse
7.6 Cars
7.6.1 BMW has launched the virtual JOYTOPIA world
7.6.2 Toyota Turkey held its annual general meeting in Metaverse
7.6.3 Hyundai Motors launched space metaverse Hyundai Mobility Adventure on Roblox
7.6.4 Ford’s immersive vehicle environment system for designing safer cars
7.7 Manufacturing
7.7.1 Hyundai Motors joined forces with Unity to build Meta-Factory
7.7.2 NVIDIA and BMW presented the factory of the future
7.8 Bank
7.8.1 JP Morgan opened a bank branch in Metaverse
7.9 Real Estate
7.9.1 Snoop Dogg builds a virtual mansion on land in the sandbox

8 metaverse apps

9 Metaverse Market, by technology

10 Metaverse market size and forecast, by tender

11 Metaverse market size and market forecast, by industry

12 Metaverse market regional analysis

13 Competitive landscape

Company profiles

  • Alibaba Cloud
  • AMD
  • Apple
  • AWS
  • ClearBlade
  • Decentralized
  • DPVR
  • edge deviation
  • epic games
  • Ericsson
  • Google
  • Resume
  • HTC
  • Huawei
  • Unlikely
  • Intel
  • Manticore games
  • Meta
  • Microsoft
  • nokia
  • Nvidia
  • Oracle Cloud
  • PicoVR
  • Qualcomm
  • Roblox
  • Samsung
  • VR sandbox
  • Somnium Rum
  • sony
  • Tencent Cloud
  • Sandboxes
  • Technology unit

For more information on this report, visit https://www.researchandmarkets.com/r/bqgkvw

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