Report: By 2026, 25% of people are predicted to spend an hour a day in the metaverse

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According to Gartner, by 2026, 25% of people will spend at least an hour a day in the metaverse for work, shopping, education, socializing or entertainment.

Gartner defines a metaverse as “a collective virtual shared space created by the convergence of virtual enhanced physical and digital reality. A metaverse is persistent and provides enhanced immersive experiences.” Gartner expects that a complete metaverse will be device-independent and not owned by a single vendor: it will have its own virtual economy powered by digital currencies and non-replaceable tokens (NFTs).

The metaverse allows people to replicate or enhance their physical activities, and as an extension, it impacts businesses that consumers interact with every day, as well as how work is done. Enterprises enable better engagement, collaboration and connection with their employees through immersive workspaces in virtual offices. Companies do not need to create their own infrastructure for this, as the metaverse will provide the framework. In addition, virtual events that have gained popularity over the past 18 months will provide more collaborative and immersive networking opportunities and workshops.

Other examples for consumers are buying digital land and building virtual houses or shopping in virtual malls through immersive commerce.

There is no doubt that the metaverse will enable enterprises to expand and improve their business models in unprecedented ways. Gartner expects 30% of the world’s organizations to have metaverse-ready products and services by 2026, so all organizations should start developing digital business strategies that leverage the built-in infrastructure and metaverse participants. At the same time, the adoption of metaverse technologies is in its infancy and fragmented, and Gartner is warning organizations to invest heavily in a specific metaverse.

Read the full report by Gartner.

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