As with so many new technologies, the metaverse is as much hype as it is reality at the moment, with vendors striving to outdo themselves with claims about the transformational nature of the technology. A recent paper from consultancy firm Arthur D. Little aims to move beyond the fantasy and provide a more sober assessment of what might be possible.

“In this report we have sought to provide a realistic picture for businesses, focusing in particular on the technologies that are necessary to realize the Metaverse,” the authors explain.

Behind the trend

The authors explain that the hype surrounding the metaverse has been driven by improvements in collaboration and productivity tools, gaming, and social media. The convergence of these trends has underpinned much of what we’ve seen to date in the metaverse.

Given the nascent nature of the technology, the authors accept that it’s difficult to accurately gauge the size of the market, but this uncertainty should not dissuade companies or prompt them to underestimate the importance of it to their business.

While the report concludes that businesses today face a world of unconnected proto-metaverses, with technological challenges remaining, it also urges them to take steps now to understand the current market and position themselves for the future.

“The Metaverse is essentially the future version of the internet, with new technologies poised to transform online usage and business models in the same way that the smartphone revolutionized the web,” the authors conclude. “And while we are still about a decade away from a complete, fully immersive version of the Metaverse, huge opportunities already exist. The question is, how to grasp them?

“This report delivers an unprecedented analysis of the technological and business maturity of the Metaverse. And some of the conclusions it reaches differ quite widely from what other commentators have said previously.”