While connectivity, digital transformation and telemedicine dominated 2021, this year is expected to be shaped by the metaverse and the future of work.
This is, according to data and analytics company, GlobalData’s “Tech, Media & Telecom Predictions: 2022” report, which identifies the top 30 themes impacting the Tech, Media and Telecoms (TMT) industry.
GlobalData describes a theme as anything that keeps a boss up at night. Its focus on themes aims to give companies an opportunity to invest in the right areas in their industries to become success stories, notes the firm.
During a webinar presentation of the TMT Predictions 2022 recently, GlobalData analysts offered a deep dive into eight of the 30 themes, namely environmental, social and governance (ESG), metaverse, the future of work, quantum computing, space economy, crypto-currency, batteries, and mergers and acquisitions.
“Technology is making it even easier for new entrants to disrupt even the most established businesses, so investment in the right themes is key to a company’s success,” Mr Emilio Campa, analyst on the Thematic Team at GlobalData said.
Top among GlobalData’s TMT Predictions 2022 is the metaverse.
The metaverse is loosely defined as an extensive online world where people interact via digital avatars. Companies like Meta (formerly Facebook) have announced plans to develop metaverse experiences, services and hardware.
Though the metaverse may not yet be fully realised, early prototypes and use cases will emerge as tech companies strengthen their metaverse capabilities and start-ups develop solutions around data visualisation, collaboration and training, said the report.
According to Emma Taylor, GlobalData’s thematic analyst, the metaverse has the potential to transform how people work, shop, learn, communicate, socialise and consume content.
Taylor comments that big tech will increasingly invest in the metaverse in 2022.
Last year, she said there were significant investments made in the metaverse. In April 2021, Epic Games announced a $1 billion funding round to develop the metaverse platform within Fortnite. More recently, in November 2021, SoftBank Group announced it was investing $150 million in a South Korean metaverse platform.
She explains: “The metaverse is attracting significant media attention, including predictions that it will form the next incarnation of the internet. As such, competition will intensify as the tech titans battle for market dominance and non-tech brands explore how metaverses could deliver operational improvements.”
Taylor anticipates game publishers such as EA and Tencent will also join the metaverse development race. “GlobalData estimates cloud gaming alone will generate $30 billion in revenue by 2030.”
“New use cases will emerge as Microsoft, Nvidia, Meta and HTC strengthen their metaverse capabilities and start-ups develop specific solutions around data visualisation, collaboration and training.
“The big players will engage in key mergers and acquisitions to bolster their metaverse offerings,” she added
According to Taylor, the use of augmented and virtual reality will be integral in the metaverse.
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