Growth Opportunities in Metaverse for Governments

Entertainment and MediaGrowth Opportunities in Metaverse for Governments

The Power of Immersive Virtual World Platforms Is Revolutionizing the Provision of Public Services

RELEASE DATE
22-May-2024
REGION
Global
Deliverable Type
Market Research
Research Code: K9A9-01-00-00-00
SKU: EM_2024_733
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$2,450.00
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SKU
EM_2024_733

Growth Opportunities in Metaverse for Governments
Published on: 22-May-2024 | SKU: EM_2024_733

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This study evaluates the potential of the metaverse for governments. It analyzes the emerging growth opportunities, challenges, and evolving trends impacting Web 3.0 adoption as well as presents a series of case studies related to metaverse implementation by the public sector across the world.

Globally, governments are starting to explore how the immersive potential of the metaverse can improve their interactions with citizens and enhance the provision of public services. As the next iteration of the internet, the metaverse unlocks a wealth of opportunities for public agencies. Facilitating collaboration between government officials and subnational units; boosting tourism; augmenting citizen engagement; developing sophisticated military or healthcare simulations; and improving urban planning are examples taken from a wide range of metaverse use cases for the public sector.

Frost & Sullivan defines the metaverse as an 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.

The World Economic Forum estimates that approximately 700 cities will develop metaverse infrastructure and leverage it for eGovernment services, tourism, and remote work by 2030.

Countries and cities such as the United Arab Emirates, South Korea, Barbados, Tokyo, and Shanghai are developing digital twins or smart cities in the metaverse. Other countries such as Finland are partnering with technology vendors or research organizations and investing considerable monetary resources to develop their national metaverse plans for the medium run.

Frost & Sullivan expects the interaction between governments and immersive worlds will grow substantially during the next decade. As the metaverse becomes more popular, the public sector will have to increase efforts to understand how it will impact social interactions, its consequences on the economy, and how to preserve safety and confidentiality within 3D worlds.

Author: Lara Forlino

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Metaverse for Governments

Growth Opportunities Fuel the Growth Pipeline Engine™

Metaverse Opportunities for Governments

Deconstructing the Metaverse

The New Digital Era

How the Metaverse Will Shape the Future

Growth Drivers

Growth Restraints

South Korea

United Arab Emirates

Barbados

Finland

Shanghai (China)

Tokyo (Japan)

Telcos: Key Allies Driving Metaverse Adoption12

Growth Opportunity 1: Digital Twins

Growth Opportunity 1: Digital Twins (continued)

Growth Opportunity 2: Next-gen Provision of Public Services

Growth Opportunity 2: Next-gen Provision of Public Services (continued)

Growth Opportunity 3: Realistic Simulation and Training

Growth Opportunity 3: Realistic Simulation and Training (continued)

Growth Opportunity 4: Massive Immersive Events

Growth Opportunity 4: Massive Immersive Events (continued)

Growth Opportunity 5: Metaverse Workplaces

Growth Opportunity 5: Metaverse Workplaces (continued)

List of Exhibits

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List of Figures
  • Metaverse Growth Opportunities for Governments: Drivers, Global, 2024–2030
  • Metaverse Growth Opportunities for Governments: Restraints, Global, 2024–2030
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  • Growth Opportunities
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This study evaluates the potential of the metaverse for governments. It analyzes the emerging growth opportunities, challenges, and evolving trends impacting Web 3.0 adoption as well as presents a series of case studies related to metaverse implementation by the public sector across the world. Globally, governments are starting to explore how the immersive potential of the metaverse can improve their interactions with citizens and enhance the provision of public services. As the next iteration of the internet, the metaverse unlocks a wealth of opportunities for public agencies. Facilitating collaboration between government officials and subnational units; boosting tourism; augmenting citizen engagement; developing sophisticated military or healthcare simulations; and improving urban planning are examples taken from a wide range of metaverse use cases for the public sector. Frost & Sullivan defines the metaverse as an 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. The World Economic Forum estimates that approximately 700 cities will develop metaverse infrastructure and leverage it for eGovernment services, tourism, and remote work by 2030. Countries and cities such as the United Arab Emirates, South Korea, Barbados, Tokyo, and Shanghai are developing digital twins or smart cities in the metaverse. Other countries such as Finland are partnering with technology vendors or research organizations and investing considerable monetary resources to develop their national metaverse plans for the medium run. Frost & Sullivan expects the interaction between governments and immersive worlds will grow substantially during the next decade. As the metaverse becomes more popular, the public sector will have to increase efforts to understand how it will impact social interactions, its consequences on the economy, and how to preserve safety and confidentiality within 3D worlds. Author: Lara Forlino
More Information
Deliverable Type Market Research
Author Lara Forlino
Industries Entertainment and Media
No Index No
Is Prebook No
Keyword 1 Metaverse Market Governments
Keyword 2 Growth Opportunities Metaverse
Keyword 3 Government Metaverse Trends
List of Charts and Figures Metaverse Growth Opportunities for Governments: Drivers, Global, 2024–2030~ Metaverse Growth Opportunities for Governments: Restraints, Global, 2024–2030~
Podcast No
WIP Number K9A9-01-00-00-00