Most of us start our day with the smart devices in our hands. Smartphones, iPads and other smart devices have become an extension of who we are. Imagine, what if interacting with our digital assistants and virtual life could be more streamlined, intuitive and even more engaging? AR glasses would offer a different solution, one where the digital and physical come together in a streamlined approach; as these glasses would be our gateway into the virtual world, often called the metaverse.
What does the Metaverse Mean for Business?
In the near future, this world won’t primarily run on platforms whose owners control data, governance and transaction; rather customers and businesses would be able to take their identities, currencies, assets, etc. anywhere they wish- all through the metaverse.
For businesses , it would be a virtual world where you can (for example) purchase and sell goods and services, sign and enforce contracts, recruit and train talent, and interact with customers, communities and set up virtual businesses.
Today many businesses have already adopted AR/VR technology offering virtual try-ons to their customers. Moreover, there have been virtual retail stores set up for a phygital (physical+digital) buying experience. All of this is only possible with high-speed uninterrupted data!
The Transition of the Digital Ecosystem
A digital system where a person will feel completely immersed in a virtual world, would undoubtedly push data usage by multiple times across the globe in the next 10 years. Internet service providers would surely be in demand to provide high-speed, uninterrupted data to offer a seamless metaverse experience to their customers.
One of the data usage reports states that the Internet traffic is already 80% video and has been growing at a 30% CAGR (compound annual growth rate). It is also said that the gaming segment is one where early use cases of metaverse are expected.
While it is too early to predict the benefits for the ISPs through the metaverse, it is anticipated that ISPs would be in demand not only by the businesses but every segment of the audience.
Internet Service would be Evolving in the Near Future
Metaverse technology would need the development of edge computing and storage resources for it to run and perform to its full potential. It stands on producing rich media content to create a metaverse experience and this will require very low latency and very high bandwidth connectivity. Carriers will need to shape up the networks if we need the metaverse to work and hence, building a solid edge is essential. Meta would be looking for carriers like Coextro, who would make significant advancements starting with network latency, symmetrical bandwidth as well as the overall speed of networks.
To offer such an intuitive and immersive experience, innovations like hybrid local and remote real-time rendering, video compression, edge computing, and cross-layer visibility, as well as spectrum advocacy, would be needed. Reliable and evolving internet service providers would work on metaverse readiness of future connectivity and cellular standards, network optimizations, etc.