Market Insight: Unravelling The Industrial Metaverse
05 Jan, 2024
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Executive Summary
The ‘industrial metaverse’ is an emerging concept that can be seen as an evolution of Industry 4.0. It hinges on the convergence of technologies such as the Internet of Things (IoT), AI and blockchain, with digital twins as the core. However, its advancement faces challenges, such as interoperability issues, the need for technological development, and a general lack of understanding of its potential. This report underscores the necessity for substantial investment, strategic partnerships and educational initiatives to overcome these barriers, and projects the future of the industrial metaverse as a transformative force in industrial operations.
Understanding the metaverse
The industrial metaverse embodies the interoperability of Industry 4.0 technologies, with digital twins at its core
The proto-metaverse era is exploiting isolated Industry 4.0 advances – but remains in its infancy
Lack of interoperability is a barrier to a fully fledged industrial metaverse
Enabling the emerging industrial metaverse
To reach the industrial metaverse, technological evolution, partnerships and preparation are key
The industrial metaverse will change the way industry works
The industrial metaverse embodies the interoperability of Industry 4.0 technologies, with digital twins at its core
The proto-metaverse era is exploiting isolated Industry 4.0 advances – but remains in its infancy
Lack of interoperability is a barrier to a fully fledged industrial metaverse
Enabling the emerging industrial metaverse
To reach the industrial metaverse, technological evolution, partnerships and preparation are key
The industrial metaverse will change the way industry works
Figure 1. Key technologies of the industrial metaverse
Figure 2. Strategies for overcoming key industrial metaverse challenges
Figure 2. Strategies for overcoming key industrial metaverse challenges
About the Authors
Henry Kirkman
Industry Analyst
Henry is an Industry Analyst at Verdantix. His current research agenda focuses on quality management, field service management and industrial applications of AI, including Gen…
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef…
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