Starting, Metaverse will contribute significantly to the world economy from 2022, reaching $3 trillion in global GDP in the next decade by 2031, according to a report released by international consulting firm Analysis Group. The report notes that the development of Metaverse will drive the growth of the global digital economy and will bring great commercial value in gaming, entertainment, education, healthcare, and other areas.
At present, the related industries generated around the Metaverse concept have become an important component of the digital economy. From the supply side, the new Metaverse track is conducive to promoting the development of digital industrialization and the digital transformation of the enabling industry. From the demand side, the new Metaverse track can promote the release of the consumption potential of the digital economy. Metaverse-related industries are continuing to attract Internet players, digital technology enterprises, and other market players to enter and lay out. To promote the sustainable and healthy development of Metaverse-related industries, government industrial departments should timely formulate supporting policies and development plans, create a good development environment for all kinds of market entities, encourage relevant enterprises to actively lay out Metaverse, seize new tracks, and cultivate new drivers.
In addition, the application demand and consumer trend of the Metaverse industry in The Chinese market are mainly reflected in retail consumption and digital entertainment applications, the diversification of Metaverse application scenarios, the development of human-computer interaction and artificial intelligence, brain-computer interface technology, and the hot spots and trends of Metaverse investment.
Metaverse Core technologies are generally evolving
Currently, virtual reality technology is one of the core technologies of Metaverse, including both hardware and software aspects. In terms of hardware, there are more and more virtual reality devices in the market, such as head displays, handles, locators, etc., and the performance is also gradually improving. On the software side, the quantity and quality of VR games and applications are also constantly improving. At the same time, artificial intelligence technology also has a wide range of applications in Metaverse. For example, intelligent NPC can simulate human behavior and improve the realism and immersion of games; intelligent interaction allows users to interact with the virtual world more naturally and improves user experience.
In addition, blockchain technology has important applications in Metaverse and can be used in digital asset confirmation, trading, and management. For example, some Chinese companies have already launched digital collections based on blockchain technology, and Metaverse games based on blockchain technology.
Finally, 5G and cloud computing technologies will be important support technologies for Metaverse.5G can provide faster network speed and greater data capacity, support more users and more complex applications; cloud computing can provide more efficient computing and storage resources, and reduce hardware costs for users.
Metaverse Accelerated application commercialization
In terms of commercialization and implementation, the application of Metaverse technology mainly focuses on games, entertainment, education, industry, medical care, and other fields. First, some companies have started launching gaming and entertainment applications based on virtual reality. For example, Tencent (TECHY) has launched the virtual reality-based game Pokemon GO, which allows players to capture virtual Pokemon in the real world by combining smartphone location information and real-world scenarios. At the same time, Tencent also launched a game based on virtual reality technology, Honor VR Edition, which uses virtual reality technology to allow players to immerse themselves in the game scene and enjoy a more real game experience.
In addition, many companies are also beginning to explore application scenarios that combine Metaverse technology with industry. The Aerospace Science and Industry Corporation has developed an industrial Metaverse platform based on virtual reality technology, “Aerospace Cloud”, which can simulate real industrial production processes and improve production efficiency and quality. At the same time, some companies have also begun to explore the application of Metaverse technology in the construction of smart cities, such as digital twin cities.
In the aviation field, ComAC has joined hands with LiangWind Platform to jointly build a “5G + AR digital workstation”. The workstation restores the real scene, integrates the three-dimensional model and AR technology, forms a set of sets of immersive working environments combining virtual and real, and helps engineers to realize real-time operation, personnel coordination, and data sharing on the aircraft assembly site. At the same time, “5G + AR Digital Workstation” uses 5G low-delay and high-bandwidth characteristics and AR technology to realize the whole-process control, all-round security control, and whole-process data support on the operation site, and improve the work coordination ability and operation efficiency of engineers in the complex working environment.
It should be noted that although Metaverse technology is constantly developing, commercialization still needs to solve some problems, such as user experience, data security, regulations and policies, etc. Therefore, the future commercialization landing needs to further strengthen the technology research and development and application exploration but also needs the support and guidance of the government and the industry.
WiMi Hologram Cloud shows the trend of Metaverse technology innovation
WiMi Hologram Cloud (NASDAQ: WIMI), as a pioneer in the Metaverse industry, integrates “XR content production + terminal research and development + real landing + AI hardware and software solutions”, focusing on creating the ultimate immersive experience. It is reported that the company takes XR + AI technology as the core, through the market-leading 5G edge computing solutions, ultra-lightweight 5G private network solutions, integrating holographic AR interactive system, large space positioning technology, 5G cloud rendering, AI + and other latest technologies, fully spread the “5G + XR” strategic layout. In addition, WiMi Hologram Cloud is actively working with the world’s leading technology giants to promote the creation of integrated solutions for Metaverse-related technologies, products, and application scenarios, such as XR and AI.
It is worth noting that WiMi Hologram Cloud has previously developed a real-time 3D holographic communication system, which can create an immersive, intuitive, and real communication experience. According to the data, WiMi Hologram Cloud’s real-time three-dimensional holographic communication system is a system integrating capture, hologram generation, transmission, and display, which can provide a more real and three-dimensional visual experience and make communication more vivid and intuitive. By encoding information into optical holographic images and using holographic projection technology, the system transmits and displays three-dimensional images over long distances.
Industry insiders believe that the real-time 3D holographic communication system studied by WiMi Hologram Cloud is a communication technology with great potential, which can realize long-distance transmission and display of real three-dimensional images, bring people more immersive, intuitive, and real communication experience, and promote the development and innovation of communication technology. With the continuous progress of science and technology and people’s increasing demand for diversification and convenience of communication methods, the real-time 3D holographic communication system will be more widely used and developed in the future, and it has broad application prospects in entertainment, medicine, education, and other fields.
Wall Street analysts believe the Metaverse investment boom is expected to shift from applications to technologies, especially core technologies such as human-computer interaction, artificial intelligence and brain-computer interface technology, algorithms, and computing power technology, which will be increasingly favored by investors. As WiMi Hologram Cloud continues to develop in Metaverse technology and its application scenarios continue to expand, the company will bring great commercial value in many fields.
Metaverse Market Size Forecast
In general, with the continuous development of Metaverse technology and the continuous expansion of application scenarios, the scale of the Metaverse industry in the market will continue to maintain rapid growth. According to the Industry Research Institute, the Metaverse market size will reach $100 billion in 2023, with a compound growth rate of 32% in the next five years, and Metaverse development will enter the fast track. According to the report, Metaverse is an integrated application of a new generation of information technologies such as AI, blockchain, 5G, the Internet of Things, and virtual reality, and is a future industry with broad space and great potential. With the continuous development of technology, Metaverse will be more integrated with the real world, and the commercialization and landing will also accelerate.
To sum up, the Metaverse industry scale will continue to maintain rapid growth, and commercial lending will accelerate, among them, games and entertainment application is the biggest market, but industrial Metaverse, wisdom city in the field of application is gradually increasing, at the same time, the development of virtual reality technology will further promote the development of the Metaverse market.