Key Findings

• Most IT decision-makers with knowledge of the metaverse and immersive services (93% to 96%) show interest in virtual reality (VR), augmented reality (AR), and mixed reality (MR). On the other hand, 3 out of 4 believe that the metaverse holds some or significant business value for their organizations.
• The ITDM survey indicates that 40% of organizations knowledgeable about the metaverse and immersive services are concerned about the high investment efforts required to implement immersive technologies.
• Although VR is the immersive tech with the highest level of implementation at present, more organizations plan to implement AR and MR in the next two years to capture efficiencies within different verticals and use cases such as healthcare, design, manufacturing, retail, government, and automotive.
• Survey respondents mainly use or plan to use immersive services and the metaverse to improve marketing and advertising strategies, enhance internal processes—such as product design, collaboration, and communication—and to connect with their audiences.
• This survey reveals that 61% of organizations using or planning to use immersive digital services believe that their investment in these technologies will increase in the next 24 months.

Definitions

• Frost & Sullivan classifies immersive services as extended reality (XR) technologies that blur the line between the real and the simulated world. VR, AR, and MR are part of the spectrum of experiences and technologies that immerse users or augment reality through audio, visual, and haptic cues.
• On the other hand, Frost & Sullivan defines the metaverse as an interconnected network of persistent three-dimensional (3D) realities and simulations where end users have a sense of social presence and spatial awareness and can participate in an extensive virtual economy. Users in the metaverse can interact with one another, trade media and digital assets, and create content through immersive experiences.