Many big name companies feel that the Industrial Metaverse has the potential to revolutionize the way we design, build, and operate physical systems, making them safer, more efficient, and more sustainable
The world’s largest companies are racing to supercharge industrial digitalization in the Metaverse.
While the Metaverse is often thought of as Mark Zuckerberg’s playground, companies of all sizes and from different sectors are now applying virtual and augmented reality technologies to industrial settings in what’s known as the Industrial Metaverse.
In an Industrial Metaverse, workers and managers can use virtual and augmented reality tools to visualize and simulate complex processes, identify potential safety hazards, and improve efficiency. For example, engineers might use a virtual reality headset to inspect and test a new product design before it is built, while factory workers might use augmented reality glasses to receive real-time instructions on assembling a product.
Revenues for industrial digital twin and simulation and industrial extended reality are expected to reach $22.7 billion by 2025, as organizations use tools such as artificial intelligence, machine learning, edge computing, and extended reality to accelerate digital transformation, according to data provided by ABI Research.
Many big name companies feel that the Industrial Metaverse has the potential to revolutionize the way we design, build, and operate physical systems, making them safer, more efficient, and more sustainable.
In March 2023, Microsoft and NVIDIA have joined forces to give hundreds of millions of Microsoft enterprise users access to industrial metaverse and AI supercomputing resources via the cloud. Under the collaboration, NVIDIA (via Microsoft’s Azure service) will host two new cloud offerings.
The two companies are hoping to help companies digitise their operations, engage in the Industrial metaverse and train advanced models for generative AI and other applications.