A Scrupulous Review of Current Metaverse Standardization Diligences

This Research Highlight samples ABI Research’s Landscape of Metaverse Standards, Best Practices, and Web 3.0 research report. The resource discusses and evaluates the current landscape of the metaverse organizations (e.g., the Metaverse Standards Forum (MSF)) working on establishing standards, best practices, and advocacy of immersive technologies.

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Market Overview

  • The metaverse is still nascent and the buildup to this future is still on the distant horizon (the 2030s), placing heightened importance and value on the activities of these standards and industry groups.
  • A large proportion of standardization organizations are still in the early stages of establishing their presence within the metaverse market and forming working groups/committees. Many organizations are starting with or prioritizing defining the metaverse (or their key markets), creating taxonomies, and identifying the key needs of their growing list of members.
  • Google, Qualcomm, and NVIDIA represent this analysis’ top three companies at this stage of the metaverse market.
  • Our report discusses the standardization efforts of three key metaverse pillars: interfaces/devices, network convergence of connectivity and computing/intelligence, and the broader Two-Dimensional (2D) to Three-Dimensional (3D) transition (3D markets). The last pillar has the potential to be the most transformative (e.g., industrial digital twins)

“In addition to establishing a foundation, the earlier efforts typically focus on interoperability, advocacy, and identifying the key use cases and business models that will be possible during the buildup to and in a future metaverse.” – Michael Inouye, Principal Analyst at ABI Research

 

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Key Decision Items

Interoperability Is a Key Metaverse Focus

While definitions, taxonomies, and best practices are critically important steps, efforts must be made to accelerate these processes to begin work on key elements, notably interoperability. For the 2D to 3D transition, key elements like interoperability (of workflows, data, services, platforms, etc.) and the virtual to real/physical experiences will be at the center of the buildup to the metaverse, rather than any singular element of this future. This broader approach is essential when assessing market opportunities and the underlying requirements (technologies, standards, best practices, hardware/software/services) that will ultimately shape the metaverse.

Organizations like OMA3 (digital ID, Web3), and AREA and DTC (industrial metaverse) are critical to help the metaverse market mature (industrial metaverse) and develop (Web3), while providing the necessary market-specific attention that is required by these industries.

Get on the Same Page about the Future of the Metaverse

The industry needs to begin coalescing around a common vision of the metaverse, facilitating smoother development of standards. While a singular definition is not required to push the metaverse market further, views around core areas like real/virtual worlds, 2D to 3D transitions, and the role of Extended Reality (XR) devices must be communicated from a cohesive position.

Is the MSF the Silver Bullet The Metaverse Industry Has Been Waiting for?

The Metaverse Standards Forum (MSF) is the largest metaverse organization with over 2,400 members, covering a diverse set of organizations including: Standards Development Organizations (SDOs), platforms, tools and engines, XR, hardware, wireless and networking, 3D commerce, universities and institutions, and advocacy groups.

The MSF’s position of serving as a key collaborative platform and central hub is well-suited to the early stages of the metaverse, but if discussions become too fragmented, it would behoove the organization to adopt a more active role in guiding the industry forward.

ABI Research sees some great strengths of the MSF. However, there is potential that those strengths can turn into weaknesses at some point. For now, we are optimistic about the MSF, but we have reservations about its capability to fully convince the industry there are enough SDOs working for metaverse applications.

Fully Assess and Measure the Expected Results of Metaverse Applications/Use Cases

Regarding metaverse standardization, more attention must be paid to how companies and workflows step into and adopt metaverse applications and use cases. Part of this challenge is tied to the upfront work on definitions and defining the metaverse opportunity, but this also includes establishing what companies can expect to gain or achieve by adopting metaverse solutions. This also includes knowing when to assess the return on investment properly.

Keep Metaverse Standardization Focus on Enterprises

While most metaverse standards groups and organizations are not consumer- or enterprise-focused, the enterprise and industrial markets represent stronger growth opportunities in the near term due to a comparatively (to consumer) established foundation and stronger interest from end users. The consumer segment for the metaverse requires significantly more changes to user behavior and preferences. Therefore, the enterprise and industrial markets should be a key target for many organizations in these early stages.

Key Market Players to Watch

Dig Deeper for the Full Picture

ABI Research provides a far more thorough evaluation of how metaverse technologies/applications are being standardized, as well as which companies are leading the charge. You can get this information by downloading our Landscape of Metaverse Standards, Best Practices, and Web 3.0 research report.

Not ready for the report yet? Check out the following Research Highlights:

This report is part of ABI Research’s Metaverse Markets & Technologies Research Service.