In this research piece, we look at the potential of the metaverse globally and, in particular, the impact on European businesses. The report uses Frost & Sullivan’s working definition for the metaverse and considers what the metaverse is, what it is not, and what it can create. The metaverse will be the next iteration of the internet (Web 3.0), and European perspectives on the shortcomings of the current iteration (Web 2.0) reflect attitudes and prescriptions for the next. This study discusses the landscape and trends for European businesses, including startups, telcos, and relation to global tech giants. European regulators are indicating they will take active steps to shape the environment in reaction to previous iterations of the internet. The study considers growth areas and opportunities for European companies. Also, leveraging the results of a September 2022 survey of European business leaders who are responsible for making decisions about their companies’ use of immersive technology (including metaverse), we offer insights and suggestions for navigating the unclear landscape ahead.

Author: Nick Baugh