The global metaverse market is estimated to be worth more than $100 billion by 2022 and to grow to $1.528 billion by 2029. Although still in an early and emerging phase, companies should already start to generate value from the concepts and technologies of the metaverse. Can you sell more with the help of the metaverse? Effectively. Here we review how.

Duncan Roberts , Senior Manager at  Cognizant , suggests four scenarios for uses of the metaverse and how it could benefit business operations:

Table of Contents [ Show ]

1. Build Stronger Customer Relationships

Gartner estimates that by 2026, around 25% of people will spend at least one hour a day in the metaverse. This represents an opportunity for companies to connect with these potential new customers on these platforms.

Using virtual reality (VR)/augmented reality (AR), users get a concrete idea of ​​the touch, feel and size of the product.

For example, used car companies are introducing potential buyers into their metaverse so they can see the car they’re interested in “up close” instead of just in 2D. The metaverse turns new product discovery into a three-dimensional experience.

2. Show sustainability with AR

Companies want to be more sustainable and socially responsible, but displaying that kind of information can be tricky. Thanks to the metaverse, information about product origin and carbon footprint can be presented visually, for example by having users scan products in the metaverse. In this way, companies can show what steps they are taking and present themselves as environmental and social leaders.

3. Improve teleworking

For employees who work from home, the metaverse can also be very useful. Companies can support their remote staff with training and social interaction.

For example, metaverse employees can experiment with digital twins , a virtual representation of an object or system, and apply that knowledge in the physical world. It also opens the door to collaboration with other employees and clients to develop and configure new projects without having to be in the same place at the same time.

4. New maintenance levels

On-site data visualization and access to information improve productivity. For example, the use of digital twins can make it easier for someone who has to help another remotely to see what is wrong with the equipment. Thus, the user can get immediate instructions on how to fix it.

Utilities, for example, can use the metaverse to work on the infrastructure that needs to be developed and test any necessary upgrades or modifications remotely before making them a reality.

Company and metaverse: A relationship with great potential

In this scenario, the important thing is to know where to start. For this, it is convenient to take into account the following tips:

1. Identify what problems you could solve or what benefits you could gain by deploying immersive augmented reality experiences.
2. Avoid siled solutions and leverage existing ecosystems and platforms.
3. Think about scalability and how each component of the metaverse is going to work with the other components to create the same experiences that you want to offer as a company.
4. And above all, maintain the highest level of privacy, security and ethics. The metaverse is still in its infancy, and at this early stage is the perfect time to pay additional attention to these issues.