As the metaverse rapidly expands, major businesses and brands are picking up the tools needed to fill the virtual void and deliver immersive online experiences.
Adobe, known for its photo- and video-editing software, released a “metaverse playbook” on Tuesday and announced partnerships with Coca Cola, NASCAR, Epic Games and NVIDIA on a range of metaverse-related projects. Adobe told CBS MoneyWatch that hundreds of brands are already using its existing 3D tools to create interactive content, adding that demand for tools used to create photorealistic replicas of their products grew 100% from a year ago.
“We have a very diverse pool of customers, and they are all trying to establish their standard workflow to get to high fidelity digital goods,” said Stefano Corazza, head of augmented reality at Adobe. “The one thing they all have in common is the need for the creation of digital twins for all the goods that the brand is representing.”
A “digital twin” is a virtual replica of a real-world product, warehouse or factory floor. In the metaverse, it can be used to simulate a real-world shopping experience. Experts say the pairing of digital replicas with physical products and services also helps with data analysis and allows companies to run simulations using real-life scenarios before making costly decisions.
According to research firm Technavio, the digital-twin market is expected to grow at a compounded annual rate of nearly 40% between 2020 and 2025 to nearly $25 billion. Research from job search engine Adzuna shows the number of job openings seeking candidates with expertise in the metaverse increased nearly 400% compared to October. Major industries currently recruiting metaverse experts include creative design, advertising and marketing.
Corazza told CBS News that while brands used to get away with two-dimensional content on traditional websites, the metaverse is making the need for three-dimensional, interactive content a “total necessity for mainstream companies.”
Richard Kerris, vice president of the Omniverse at NVIDIA, said every company will soon have a “digital-twin strategy.” Kerris said beyond social media, shopping and entertainment, the industrial goods sector is seeing the biggest shake-up from the expansion of the metaverse.