When you hear about the “metaverse,” you might think of a Fortnite gamer using a VR headset or a group of teens gathered around their Stumble Guys app.
But the metaverse isn’t just for entertainment—there are numerous enterprise benefits that are poised to transform the way we collaborate as private 5G technology matures.
The global metaverse market size was $39 billion last year and is predicted to surge to $679 billion by 2030. This growth will benefit the workplace, improving telecommuting and accessibility for employees with disabilities.
Private 5G Network and Innovations Afforded by Metaverse
Private 5G networks and innovations from the metaverse will open up opportunities for cost savings, revenue gains, and competitive advantage across various sectors.
Equipment Repairs in Heavy Industries
Industries such as manufacturing and logistics rely on complex interconnected systems and technologies, requiring ongoing maintenance and repair. Training new hires on these repairs can be time and resource-intensive, especially if the technology is not in the same region as the employees being trained.
Metaverse tools can help organizations efficiently and expediently train personnel, creating digital twins of facilities and using AR and VR technology to simulate interacting with and repairing systems.
This approach reduces time and expense, empowers employees to explore technology, and identifies areas for potential improvements without posing any risk to physical systems.
Remotely Assisting Field Applications
IT support and field service technicians can use the metaverse to remotely assist field applications, enabling technical support and reducing risks associated with physical interaction with technologies.
Supporting NFTs in the Finance Industry
NFTs have potential implications in foreign exchange trading and real estate management, offering secure and lower-cost alternatives to traditional processes.
Virtual stock exchanges could also enable companies from multiple jurisdictions and exchanges to issue stock NFTs, creating new economies of scale as technology matures.
Most of This Tech is Theoretical but Underscore Possibilities
These examples underscore what could be possible as technology matures. NFTs will continue to play an increasingly prominent role, and organizations need to recognize the foundational role of telecom capabilities in making enterprise metaverse possibilities a reality.
5G’s speed will be instrumental in making many enterprise metaverse possibilities a reality, emphasizing the importance of deploying private 5G networks for organizations.
Featured Image Credit: Photo by Z z; Pexels; Thank you!
