The metaverse refers to an interconnected network of shareable and persisting virtual worlds. End users experience a sense of social presence and spatial awareness in a three-dimensional virtual space and participate in an extensive virtual economy. The term “metaverse” was coined in 1992, but the technology necessary to realize the concept did not exist then.
This Frost & Sullivan study comprehensively analyzes the global metaverse industry, including its evolution from a concept to a bold bet, and identifies key technology components that constitute the metaverse architecture. It highlights developmental directions for the near future and notable ecosystem participants (vendors), specifically discussing their focus and product priorities. It also assesses emerging application opportunities across sectors with real-world use case examples. Growth opportunities for market participants such as developers, service providers, and solution providers are included in the study.
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