The last century is known as an era of mass production and the rise of the internet. Similarly, the 21st century would probably create and expand the virtual world known as the Metaverse. This technology seems to be promising to be much more interactive, immersive, and collaborative when compared to the internet. The Metaverse can be a new term for the next-gen internet.
The combined augmented reality and virtual reality markets were worth $12 billion in 2020 with an annual growth rate of 54%, resulting in a projected valuation of $72.8 billion by 2024. From a conceptual perspective, the Metaverse will be the successor to the internet. Fixed broadband internet was the ideal foundation for mobile internet in the early 2000s. The convergence of artificial intelligence, 5G, and edge cloud processing will make delivering seamless, enjoyable, as well as cost-effective AR and VR experiences in a straightforward manner.
In the industry, insiders believe the Metaverse will eventually become essential to all brands worldwide, just as the internet did. Recently, Mark Zuckerberg announced that Facebook marketing is also turning to the Metaverse, and that's all worth it. Yet, the jury is still not out; when it comes to Google and Apple leading the Metaverse revolution.
What will marketers have to do with the Metaverse for App marketing?
As per Wikipedia, the Metaverse is a perfect blend of all the virtual worlds, the internet, and augmented reality. It is a shared virtual place created after the convergence of virtually enhanced physical reality and a physically consistent virtual world similar to the summing up of all virtual worlds, augmented reality, and the internet. A Metaverse is a digital world where each individual has an avatar. Whether gaming or creating, you can get a virtual experience in everything.
Additionally, there is a dramatic change in the business adaptations and mindsets, from taking a look at the virtual reality that uses VR to create, identify, and explore while expressing, socializing, and collaborating. A flurry of new technologies and opportunities has transformed VR from a waste of time into the next big thing. Even big brands including Gucci, Facebook, and snap are creating virtual communities, assets, fashion, art, and experiences. Embark on a new journey into the real and virtual worlds, where you will experience a new currency, economy, and environment.
How can marketers and brands prepare for the upcoming revolution in Social Media Marketing?
With the advancement of the most recent technologies, including virtual reality, augmented reality, and artificial intelligence, digital marketing has become a significant part of today's agenda. Moreover, technological advancements and the growth of the internet have inspired marketers to educate their clients for some change and acclimate them to the new ways of marketing. Business narratives need to be changed, and emerging technologies should be embraced as seamlessly as possible. A Metaverse is a place; where everyone wants to build, and brands are no exception.Ending Note Octos Global is a reputed and established Software outsourcing firm; based in California that provides reliable and required digital business solutions such as Internet of Things (IoT) applications, software testing, data science, rescue teams, and analytics solutions. It has a history of handling mobile app development and website development requirements. Octos Global offers a unique blend of size, experience, adaptability, and expertise for the successful development and execution of tech projects.