A new McKinsey report shows that annual global spending by businesses and consumers related to the metaverse may reach $5 trillion by 2030. McKinsey notes that this includes about $2 trillion to $2.6 trillion in spending on the e-commerce market and $144 billion to $206 billion in spending on the virtual advertising business. McKinsey reports that the meta-universe will cover five daily activities: gaming, social, fitness, business and distance learning. McKinsey senior partner Lareina Yee noted, “People say socialization will be the number one metaverse interest.”
Tencent Bets on Metaverse and Establishes XR Division
Tencent Holdings announced Monday the official establishment of an “extended reality” (XR) division within the company, according to the latest reports, betting on the metaverse track. Sources close to the matter said the division is tasked with building an expanded reality business for Tencent that includes software and hardware, and will be part of the company’s Interactive Entertainment Group (IEG). In February this year, Tencent launched a new XR business to fully lay out the “all-reality Internet” and opened a “live water recruitment” internally.
At present, Tencent said that the XR business is a brand new business that the company is vigorously building in response to the full-real Internet. The goal is to build a world-class hard-tech team under the leadership of industry leaders and compete for the next ticket in the hard-tech era. It is reported that Tencent’s XR business focuses on laying out a full-chain XR ecology, including XR devices at the hardware end, sensory interaction technology at the software end, and content and developer ecology at the content and industry end.
Technology is evolving at such a rapid pace that organizations across industries are trying to follow. An exciting opportunity is on the horizon, with a decade of mobile Internet development and the next wave of upgrades coming soon. There is no doubt that technology is improving almost all business processes, and betting on the metaverse is the new technology that is gaining rapid development and adoption. Currently, the academic community has not yet formed a unified definition of the concept of metaverse. Nick Kelly, senior lecturer of interaction design at Queensland University of Technology in Australia, said in an interview that the metaverse can be better understood through the approach of extended reality.
People live in a real world that is experienced through different senses, and technologies such as VR and AR can help people expand reality and have experiences beyond the real world. If these extensions of reality are brought together in an online world, then the metaverse is the human vision of what the world will look like. In general, the metaverse can be seen as a version of the current Internet after it has been further expanded, sustained and shared.
WiMi Hologram Cloud accelerates layout to capture trillion dollar market
At a time when the concept of metaverse is booming, XR hardware devices, as an important “ticket” to enter the future world of metaverse, have attracted the attention of major technology companies in a short period of time. WiMi Hologram Cloud (NASDAQ: WIMI), the first share of metaverse holographic AR, as a technology enterprise, focusing on human-computer interaction technology and XR hardware and software research and development, has been plowing on the road of XR technology research and development for a long time. Up to now, it has integrated 3D, holographic, AI, 5G and other technologies, and has accumulated a lot of practical experience in technology, so it has unparalleled advantages to start the layout in the field of metaverse.
Nowadays, as the topic of metaverse has just emerged, it presents a situation of blossoming. Because metaverse is multi-layered, the key technology for developing metaverse is both XR hardware and design engine, as well as the artificial intelligence technology behind it. In terms of software technology, WiMi already has strong AI capabilities and is able to embed holographic AR content into virtual applications based on technologies such as imaging detection and recognition; in terms of XR hardware, a number of metaverse XR products have been released; in terms of applications, it has 4,600 holographic AR virtual IP rights and interests content, laying the foundation for entering the metaverse market.
Thus, the basic technology of WiMi’s metaverse has long been mature and is the core driving force behind the metaverse. Whether it is 5G, artificial intelligence or XR, these technologies have actually entered the engineering stage and has been widely used by WiMi in industrial scenarios. And intuitively, its XR is constantly enhanced, and its science and technology that gives full play to creativity provides a powerful means for human intelligence expansion, and have a huge and far-reaching impact on production methods and social life, which will truly change the way of observing the world.
WiMi accelerates the layout to seize the trillion dollar market, and in the future, it will also be able to explore more in the field of metaverse. It will combine both AR and AI capabilities through the combination of software and hardware to create more practical, intelligent and natural content presentation solutions and interaction capabilities. Empowering the scene, empowering the users in the scene, empowering the partners and developers, everyone can get more diverse and multi-modal experiences in the metaverse environment.
Recently, world-famous companies have started a new round of layout for metaverse, and they have increased investment to compete for the golden track, which makes the metaverse market show a situation of blossoming and competition. This is both a challenge and an opportunity for companies who want to get a ticket to the metaverse. In short, in the era of industrial metaverse, whoever wins the first opportunity will be more likely to “touch” the metaverse and truly work for the welfare of mankind.