GAMING, METAVERSE DRIVE AR/VR GROWTH

GAMING, METAVERSE DRIVE AR/VR GROWTH

by | Nov 7, 2022 | Articles

Gaming technology will serve as the biggest driving force for the metaverse’s evolution in the near term as augmented reality (AR) and virtual reality (VR) hardware enables users to engage in virtual worlds in and outside of work.

This is according to a new S&P Global Market Intelligence report, 2023 Technology, Media and Telecommunications (TMT) Industry Outlook, published as part of S&P Global Market Intelligence’s Big Picture 2023 Outlook Report Series.

The new report highlighted the implications of the metaverse in gaming and the enterprise, datacenter sustainability amid a worsening energy crisis, and the rise of fintech as a service. It also explores video streaming competition and broadband transformation as forces of disruption in 2023.

“The foundational shift of the global economy to a digital footing – a shift that has been underway for over a decade and accelerated during the pandemic – continues. This is creating enormous opportunities for new value creation and disruption,” says Eric Hanselman, chief research analyst for TMT at S&P Global Market Intelligence.

Key highlights from the report include:

  • AR and VR device adoption will grow steadily over the next five years as big tech companies underline the hardware’s potential as a conduit to the metaverse. As of the end of 2021, S&P Global Market Intelligence estimates there were 28,5 million AR/VR headsets installed worldwide across consumer and commercial settings, and forecasts that base to grow to 73,6 million by 2026.
  • The global energy crisis may push datacentre operators to test and install new equipment more quickly than expected. While hyperscale datacentres attract attention because they are so large, S&P Global Market Intelligence’s models show that cloud deployments can be up to 80% more efficient than typical enterprise IT deployments.
  • The fintech as a service sector is rapidly attracting venture capital, with private startups in this sector raising more than $ 5 billion since the start of 2021.
  • Rising inflation and cost of living crises may force some consumers to pare back streaming subscriptions, which in turn could prompt the pack chasing Netflix and Disney to focus on profitability instead of scale.
  • By 2030, global pay TV penetration is predicted to slip to 51,2% of residential households, from 57.7% in 2021. Moreover, the number of fixed broadband subscribers globally is forecast to hit 1,13 billion by 2023, exceeding the 1,09 billion traditional pay TV subscribers for the first time. Editor@tech-talk.co.za
NEDBANK BANKS ON THE METAVERSE 

NEDBANK BANKS ON THE METAVERSE 

by | Sep 22, 2022 | Articles

As the digital economic voyage into the metaverse starts to accelerate, major players in trade and industry are poised to develop custom experiences in this digitally-enhanced world, which is being heralded as the future of ecommerce.

Leading financial institution Nedbank has collaborated with Africarare, Africa’s first metaverse, and secured a 12×12 village in Ubuntuland on which to establish its presence as the first African financial services organisation to enter the metaverse.

This forms part of the financial services group’s strategy to lead in digital, go beyond banking, discover new marketing platforms and leverage new technology to better serve its customers and stay at the forefront through forward-thinking solutions.

The Nedbank village with a focus on customer value and services, will contain numerous experiences ranging from virtual gaming, a sports lounge and more.

Nedbank joins global players such as DBS Bank, HSBC, JP Morgan, and Fidelity Investment who have partnered with metaverses globally. Africarare, Africa’s first metaverse is highly sought-after by companies and individuals wishing to capitalise on the multiple opportunities presented by the metaverse. The early settlers in Ubuntuland include MTN, World Data Lab, and M&C Saatchi Abel.

“Creating experiences that go beyond banking has always been a focus for Nedbank. Our entry into the metaverse is not merely about having a presence in this space, it’s about meeting the needs of our clients on platforms that resonate with them, while offering an array of touchpoints that continue to demonstrate our commitment to lead in digital,” says Khensani Nobanda, group executive for Marketing and Corporate Affairs at Nedbank Group.

Fred Swanepoel, Nedbank’s Chief Information Officer, adds: “As Nedbank we want to remain at the forefront of the technologies that will enable the next wave of digital business models, so we’re investing in Web 3.0 and the newer open source technologies on which the metaverse is built. It’s important for us as Nedbank to continue leading and advancing our digitisation journeys which have already yielded excellent results for the Group and enable Nedbank to engage in the future digital marketplaces, where we believe, we will need to meet and serve our clients.”

Editor@tech-talk.co.za