Duncan Stewart, the Technology, Media, and Telecommunications (TMT) Research Director for Deloitte Canada, discussed the promising future of the “metaverse,” considered the next significant development after smartphones.
During the presentation of the ‘TMT Predictions 2022’ report in Istanbul, Stewart highlighted the metaverse’s potential, estimating it to be an $8 trillion opportunity for companies, according to investment banks.
Stewart noted that numerous companies are currently seeking collaborations and partnerships to become part of the metaverse.
He described the existing virtual worlds where millions of people engage with their avatars, play games, socialize, attend parties and concerts, and conduct business.
However, he emphasized that many of these activities are confined to the “closed gardens” of specific game applications.
Underlining the urgency for technology, media, and telecom companies to make informed investment decisions and take action in the metaverse, Stewart stated that although it’s not too late at present, those who fail to act by 2025 will find themselves behind the curve.
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