IoT Growth Opportunities in the Metaverse

Digital Twins, 5G, Edge Computing, Sensors, Semiconductors, and XR Devices are Key Enablers of the Metaverse

The analyst defines the metaverse as an interconnected network of persistent three-dimensional (3D) worlds and simulations where end users, represented by virtual avatars, are enabled with a sense of social presence and spatial awareness and participate in an extensive virtual economy.

IoT is crucial in terms of linking the metaverse and real-world objects or devices. Connected to the metaverse, devices can seamlessly share and receive information, thereby creating a more efficient replication of the physical world.

IoT sensors synchronize the physical and virtual worlds, playing a decisive role in data acquisition from physical assets. Digital twins (DTs) are required to replicate a physical object in virtual form. Extended reality (XR) devices are needed to enter the virtual world, and IoT semiconductors are the core component of XR products. Moreover, 5G and edge computing are key enablers of metaverse infrastructure.

Many companies are increasingly investing to position themselves in the metaverse market, and numerous applications within metaverse can lead to interesting business opportunities.

The metaverse is expanding rapidly across various industries, and its related technology is projected to generate revenue opportunities across numerous verticals. The analyst expects the combination of IoT and metaverse to open new opportunities for growth and development in the tech space, including IoT companies expanding and enhancing their offerings and establishing strategic partnerships.

Research Highlights

To be considered a component of the IoT, any product, application, or service must be part of a larger solution that comprises these 4 elements:

• Objects that are virtualized and imbued with data measurement capabilities
• The ability to grant identities to physical and virtual objects
• Interconnections between these objects for monitoring and interaction
• The ability to generate real-time insight from data and incorporate it into existing business processes

Key Features

The study offers an in-depth illustration of the following:

• IoT as an enabler of the metaverse (overview and current trends)
• Snapshot of key technologies (including DTs, 5G, edge computing, semiconductors, sensors, and XR)
• Profiles of the top tech companies in the ecosystem
• Growth drivers and restraints
• Forecasts of IoT devices related to the metaverse
• Growth opportunities for market participants