Report: The Age Of The Metaverse Is Not Here Yet

The headset on tablet for metaverse or technology concept 3d rendering

A new report by research and advisory group Forrester shows that despite all the interest from around the world, we have not officially entered the age of the Metaverse.

However, that hasn’t stopped companies from trying to stake their claim in it. Even as 34% of US online adults express excitement for what the metaverse will offer, 76 per cent of US B2C marketing executives plan to invest in metaverse-related activities this year.

Single-vendor platform activations such as augmented or virtual worlds, gaming environments, and development tools are just metaverse precursors. Forrester believes that the metaverse will manifest over the next decade, in stages.

For the metaverse to become a reality, it must support an immersive experience of interoperable and interlinked environments delivered via a variety of devices — from smartphones and virtual reality (VR) headsets to other form factors not yet conceived. The metaverse also requires regulatory standards, privacy codes of conduct, and inclusive and compelling user experience (UX) design.

In its new report, Forrester offers considerations for business and tech leaders to evaluate their investments in the metaverse:

CMOs should learn how consumers want to engage with extended reality. Currently, Forrester finds that only 14% of US online adults feel brands should deliver branded experiences in the metaverse.
CIOs and CTOs should develop a strategy to assess, manage, and prioritize key technologies that are enabling the metaverse. According to Forrester, 58% of global business and tech professionals with metaverse and virtual world knowledge say their organization will adopt metaverse or virtual world solutions over the next 12 months to support workplace collaboration, especially to enable anywhere work.
CX and Design Leaders should explore the metaverse’s potential for a new generation of customer experiences. Design leaders that excel at human-centric design will make the metaverse inclusive, co-creative, and beneficial to people.

“Despite consumer skepticism and the fact there isn’t an actual metaverse, companies are still determined to stake their claim in it,” said Keith Johnston, vice president and group research director at Forrester. “Business and tech leaders should use this era of metaverse precursors to see where future opportunity lies, manage expectations around this concept, and gauge proper investments.”

Further insights about the metaverse by Forrester are featured in their official blog (including a video of their analytics team breaking down key considerations from different perspectives.)

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