Primary and Secondary Research
An IZEA study of US adult internet users found that 56% of social media influencers are on the Metaverse.
Around 70% of all influencers believe Metaverse will replace social media. 60% of respondents, all social media influencers, already see themselves as creators in virtual worlds. Additionally, 72% of respondents also reported they are considering or are already making money in the Metaverse.
According to Reuters, Reality Labs lost $10.2 billion in 2021 and another $3 billion in Q1.
During its earnings call, CEO Mark Zuckerberg said Meta planned to “slow the pace” of some longer-term investments in its business platform, artificial intelligence infrastructure, and Reality Labs.
According to Global Newswire, the Augmented and Mixed Reality market is set to grow drastically in the next few years. In 2020, the market had a value of around $376.1 million. By 2021, this value is set to increase to around $3915.6 million– a CAGR of 41.8%
Image Source : Netscribes
Consumer Retail : Digital Twin Technology , immersive experience, consumer interaction
Healthcare : Telemedicine, Block chain and digital twin
WHAT IS DIGITAL TWIN ?
A digital twin is a virtual representation that serves as the real-time digital counterpart of a physical object or process. It allows you to visualize your ideas in a virtual environment and test them before implementing in the real world
Digital twins correspond to the digital information copy of an actual product on the internet that can be edited and updated as the real physical product goes through different stages of its life cycle.
Unlike a simulation in manufacturing, digital twins in retail are more focused to track and trace products, applicable to logistic companies and supply-chain managers. This data-driven digital twin information can be shared among stakeholders, organisations, teams and even countries and can also be deployed in a multilingual format. It enables retailers as well as customers to keep track of products and their corresponding information as they are sourced, shipped, purchased, used or consumed.
Product Prototyping reduces Spoilage : This information can then be used to understand and refine product information at all stages of its life cycles. Brands can reduce the risk of spoilage and cut down the turnaround time as well as updating offers or promotional changes or update other information related to the physical product and its packaging.