The Industrial Metaverse for Enterprises: Nonstop Growth
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from 3DS blog
By leveraging the power of the industrial metaverse, businesses can gain unprecedented insights into their operations, increase efficiency, and create new opportunities for collaboration and growth. Additionally, businesses can use the industrial metaverse to create automated processes, improve predictive analytics capabilities, and gain a competitive edge over other organizations.
But what is this industrial metaverse?
The “metaverse,” a term that gets thrown around a lot is essentially a digital twin—a virtual representation of a real person, place, or thing.
The industrial metaverse refers to how enterprises are using immersive technologies and data in manufacturing, asset inspections, repairs, maintenance, and more.
The industrial metaverse advances as tangential emerging technologies mature:
5G connectivity
Artificial intelligence (AI) and machine learning (ML)
Drones and robots
Blockchain
XR/VR/AR/MR
Wearable technology
And more
Industrial metaverse growth is blistering. The IMARC Group predicts that the market will reach $54.6 billion by 2027, showing a CAGR of 31.7% between 2022 and 2027.
And applications are already in use at enterprises around the world:
Accenture helped Mars build a “factory of the future”
Las Vegas launched a digital twin of a section of its downtown
A digital twin of SoFi Stadium helps with daily building management
EasyJet used digital twin data to conduct a trial inspection of its Airbus A320 using a drone
Toms River Municipal Utilities Authority uses digital twin and VR technology to “see” underground pipes
By building digital twins, enterprises are already creating siloed metaverses. As this technology matures, data and systems will become more integrated. Cognite describes the journey from current state to future state going through the following stages:
Metaverse islands (now)
Connected metaverse ecosystems (around 2025)
Autonomous and intelligent unified metaverse (late 2020s through early 2030s)
The definition of the metaverse, like the metaverse itself, will continue to evolve—faster than you can say, “digital twin.”
