Growing Demand for Metaverse Services in Different Industries



There's been a lot of hype around how the future will become as the metaverse becomes more mature.

Even though the term "metaverse" first appeared 30 years ago in a fiction novel, the metaverse concepts are just becoming concrete in recent years.

However, the underlying technologies that contribute to the realization of the metaverse have indeed been in continuous development for years.

While we are still in the early stage of the metaverse development, visionary business leaders began to make practical plans and steps to ensure their companies are well-equipped for the new version of the internet.


The Metaverse is Approaching


What is the Metaverse? Metaverse is a shared and persistent virtual 3D environment that people can explore and interact with others in real time.

Building blocks of the metaverse like high-speed connectivity technologies, blockchain, AI, automation technologies and extended reality are all already existing. Once these siloed components are blended together and become interoperable, complete metaverse solutions will then come to fruition and reveal the combined benefits of all these currently fragmented components of the metaverse.

The metaverse is a $1 trillion yearly revenue opportunity, according to a study from JPMorgan Chase. It is not surprising to see visionary companies start finding seats on the bandwagon, or looking for advancements with metaverse solutions.



Brands are Enriching Consumer Engagement in a Hybrid Environment


To deepen customer loyalty and grow revenue, leading brands in the consumer goods industry have already stepped into the metaverse and started engaging their communities in new ways. They launch virtual presence and acquire virtual lands on interactive virtual platforms like Roblox and Sandbox to deliver exclusive and immersive content and experiences in the virtual realm.

Retailers also work with NFT pioneers to make and sell virtual branded products as NFTs. Aside from offering virtual products only available in the metaverse, some are creating a mix of digital and physical items being sold as a package to supercharge customer experience by converging the physical and digital world.



Optimizing Manufacturing and Asset Management with Digital Replicas


Digital twin is a real-time virtual replica of a physical-world asset. The real-world object is equipped with sensors to collect real-time data that relays the same to its digital representation. It can be used to simulate and reflect real-world experiences.

The integration of digital twins and the metaverse technologies can create a virtual representation of the real world. Components in the metaverse are being fed with real-life data, assisting people to run what-if scenarios for precise prediction, monitoring and optimization.

Different types of digital twins, including parts twinning, product twinning, system twinning and process twinning, have been widely implemented in various sectors like engineering, manufacturing and operations management. All of these are benefiting organizations with real-time and simulation insights into manufacturing process, asset maintenance, operational efficiency and customer service.

Apart from its impacts in above mentioned areas, digital twins are also applied in transport maintenance, warehouse operations, remote assistance as well as specialists training, breaking down geographical barriers and making the management for assets that are widespread much easier.



KBQuest and the Metaverse


Metaverse is converging the physical and digital space. Undoubtedly it is going to innovate the way people engage with each other as well as brands on the internet.

We are glad that we have been paving the way all along for the development of metaverse services by investing and demonstrating our sophistication in different key building blocks of the metaverse.

By bringing all the necessary capabilities together along with the continuous investments in cutting-edge technologies, we are excited to embark on the metaverse journey and bring in a range of potentially limitless future metaverse solutions.


 

About KBQuest


As a global digital transformation consulting firm with more than 1,300 professionals, KBQuest transforms clients’ digital journeys by committing to their success.


With our extensive industry experience and a strong track record in Cloud, Analytics and Digitalization, we tailor end-to-end digital strategies to transform businesses. Our consultation, strategy development, solution implementation and managed services empower clients to achieve their business goals through technology.


We guide businesses to outperform the competition.