25 percent of people will spend at least one hour a day in the metaverse for work, shopping, education, social and/or entertainment by 2026, according to Gartner report.
“From attending virtual classrooms to buying digital land and constructing virtual homes, these activities are currently being conducted in separate environments. Eventually, they will take place in a single environment – the metaverse – with multiple destinations across technologies and experiences,” Marty Resnick, research vice president at Gartner, said.
Gartner defines a metaverse as a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. It is persistent, providing enhanced immersive experiences, as well as device independent and accessible through any type of device, from tablets to head-mounted displays.
No single vendor will own the metaverse. Metaverse will have a virtual economy enabled by digital currencies and nonfungible tokens (NFTs). The metaverse will impact every business that consumers interact with every day.
It will impact how work gets done. Enterprises will provide better engagement, collaboration and connection to their employees through immersive workspaces in virtual offices. Businesses will not need to create their own infrastructure to do so because the metaverse will provide the framework. In addition, virtual events that have gained popularity over the last 18 months will offer more collaborative and immersive networking opportunities and workshops.
“Enterprises will have the ability to expand and enhance their business models in unprecedented ways by moving from a digital business to a metaverse business,” said Resnick. “By 2026, 30 percent of the organizations in the world will have products and services ready for metaverse.”