Executives See Metaverse as Much More Than Passing Fad: Report

Companies “believe in the power of the metaverse,” with only 2% of respondents to a recent poll considering it a buzzword or a fad, says a new report by Nokia and Ernst & Young released Monday. Telcos were seen as key players in the metaverse by 52% of respondents, while network and networking equipment providers were seen as key players by 48%. The U.S. and the U.K. are leading the charge, the study found -- in the U.S. 65% of respondents and in the U.K. 64% had a pilot or had fully deployed at least one industrial or enterprise metaverse use case. “On average, 80% of those who have already implemented metaverse use cases believe they will have a significant or transformational impact on the way they do business,” said a news release: “Nearly all (94%) of those who have yet to begin their metaverse journey plan to do so in the next two years.” The report was based on responses from 860 business leaders in six countries.