When we saw the transition from Facebook to META, we thought the Metaverse won’t succeed. Although it’s too early to say exactly which technologies or platforms will dominate, it’s not too early for PLESSING.CONSULTING to plan how to participate in the metaverse ecosystem. As it represents a merging of three major growth areas with AR, VR and XR and we’re reading the signs of interest for the last few months, we decided to expand our business range with AR.CONSULTING beyond the conventional service management consulting.
To spearhead this effort, we launched AR.CONSULTING in March 2022 after completing our first AR implementation with the Microsoft Hololens2 and Microsoft Dynamics.
How businesses operate and how people work, play, and socialize continue to evolve. Companies are well positioned to retain or add value if they take steps to capitalize on the following opportunities.
Adopt highly mature digital capabilities.
Employ next-generation personalization and AI.
Use partnerships and ecosystems to move quickly and create synergies.
Have a clear game plan for mergers and acquisitions.
Prepare for competition from innovative newcomers.
Develop a metaverse strategy.
The superior performance of companies that are digital leaders was underscored during the pandemic, when those businesses vastly outperformed digital laggards. From February 2020 to November 2021, market capitalization for digital leaders grew 36%, compared to 5% for digital laggards. (See Exhibit 4.)
The metaverse market represents a merging of three areas of existing technology whose capabilities are rapidly evolving: platforms enabled by increased computing capacity and connectivity; AR, VR, and mixed reality (MR); and digital and web3 assets enabled by blockchain.
For tech companies, it’s an opportunity to help shape standards and platforms. Media companies—and video-game companies in particular—are in the best position to produce metaverse content, including VR- and AR-based immersive experiences. And telecoms are the obvious choice to build next-generation connectivity in the form of 5G and Wi-Fi 6.
All images and content snippets are copyright of BCG. The original post from February 2022 can be found here.