Thursday, September 28, 2023
  • About
  • Privacy Policy
  • Editorial Principles
  • Why to trust us
  • Contact
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
No Result
View All Result
Scoop Nova
Home Technology

Companies say metaverse can up profits but are cautious to invest: KPMG

admin by admin
April 3, 2023
in Technology
0
Companies say metaverse can up profits but are cautious to invest: KPMG
589
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

You might also like

Foxconn failed India chip effort shows how hard it is for new players

FTX lobbyist tried to buy island Nauru, create superspecies: lawsuit

TSMC earnings report Q2 2023

According to a KPMG report, 70% of companies will invest less than 5% of their technology budget in the metaverse in 2023, and 27% will not invest in the metaverse at all.

Yagi Studio | Digital Vision | Getty Images

KPMG research shows that the Metaverse has great potential to boost business profits, but there is currently no evidence that companies are investing heavily in it to succeed.

“for [tech, media and telecom] So it helps us know where and how much to invest to avoid being caught off guard by Metaverse pioneers, and also to help minimize the potential for funding redundant projects.” said Mark Gibson, TMT Leader, KPMG. USA, in reports.

Related investment news

CNBC Investment Club

The Metaverse broadly refers to the concept of a digital world where people live, work, play and interact with each other as avatars through virtual reality platforms.

of KPMG research Sixty percent of TMT executives indicated they believe the metaverse can drive revenue and profits and reduce operational costs as transactions move from physical to virtual. Surveys show that they also believe they can improve customer satisfaction through interactive experiences.

However, according to KPMG, a similar percentage acknowledged that despite the potential of the Metaverse, further refinement and development was needed.

“Most of the TMT executives who participated in our survey feel that it will take several years for the Metaverse to become a thriving commercial ecosystem,” says the report.

Most of the global companies surveyed (70%) are investing less than 5% of their technology budgets in the metaverse in 2023, and 27% are not allocating funds to the metaverse.

The report considers responses from 767 technology, media and telecom executives from companies with annual revenues greater than $250 million. Companies came from 13 different countries and her 5 continents.

not yet seen success

According to a KPMG report, many in the technology, media and telecommunications industries want to see evidence of growing use of the Metaverse before making big investments.

According to 40% of surveyed respondents, there is a lack of success stories demonstrating a return on investment in the metaverse.

Analyst Says 'Immediate Opportunity' For Metaverse Goes Beyond Gaming

Surveyed TMT executives remain skeptical about the viability of the Metaverse, with 27% calling it an “impossible pipe dream” and 20% calling it “a fad that never lives up to the hype.” said.

Nearly 50% of respondents said their companies were “waiting and waiting” or assessing long-term business value before making large investments, the report said. I’m here.

Read more about CNBC Pro tech and crypto

Meta's stock surged as Zuckerberg deprioritized Metaverse, says Margin's Ranjan Roy

In fact, meta executives previously admitted “Many products for the metaverse could be fully realized within the next 10 to 15 years.”

in the meantime, Disney reportedly Cut the metaverse division As part of the layoffs announced last week. The company never clearly outlined its Metaverse plans.

Former Disney CEO Bob Chapek said, “Our work to date will bring the physical and digital worlds closer together, enabling borderless storytelling in our very own Disney metaverse. Suffice it to say that it is nothing more than a prologue to the times.” As stated in the 2021 earnings call.

not ready

Many of KPMG’s survey respondents say their companies are underprepared for the metaverse.

According to KPMG, “The biggest barriers to investing in and adopting the Metaverse are the lack of technology to support the experience, high development costs, and lack of appropriate employee skills.”

Nearly half of respondents said they lacked the right technology to support the metaverse, and 50% said the high cost of developing the metaverse meant that companies had not invested enough in their strategy. said to prevent the adoption of

Fewer than half, 49%, said their company lacked the employee skills to run the metaverse.

The KPMG report noted that “there are potentially significant benefits in terms of ROI for results such as improved employee retention, which is a key strategic goal for many companies, and other similar enterprise applications. There is,” he said.

Tags: Business newscautiouscompaniesCyber ​​securityinvestkpmgMark ZuckerbergMeta Platforms Incmetaverseprofitstechnologythe internetwalt disney company
Previous Post

Former Arkansas Gov. Asa Hutchinson announces 2024 presidential bid

Next Post

WWE near merger deal with UFC parent Endeavor

admin

admin

Related Posts

Foxconn failed India chip effort shows how hard it is for new players
Technology

Foxconn failed India chip effort shows how hard it is for new players

by admin
July 24, 2023
FTX lobbyist tried to buy island Nauru, create superspecies: lawsuit
Technology

FTX lobbyist tried to buy island Nauru, create superspecies: lawsuit

by admin
July 22, 2023
TSMC earnings report Q2 2023
Technology

TSMC earnings report Q2 2023

by admin
July 20, 2023
France and Britain are battling it out for Europe’s AI crown
Technology

France and Britain are battling it out for Europe’s AI crown

by admin
July 18, 2023
Elon Musk says Twitter cash flow remains negative with ‘heavy debt’
Technology

Elon Musk says Twitter cash flow remains negative with ‘heavy debt’

by admin
July 16, 2023
Next Post
WWE near merger deal with UFC parent Endeavor

WWE near merger deal with UFC parent Endeavor

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Manhattan D.A. says his office will not tolerate threats to the rule of law after Trump calls on supporters to protest

Manhattan D.A. says his office will not tolerate threats to the rule of law after Trump calls on supporters to protest

March 20, 2023
Lavrov criticized for Russia’s war in Ukraine at UN

Lavrov criticized for Russia’s war in Ukraine at UN

April 25, 2023

Categories

  • Business
  • Politics
  • Technology

Don't miss it

Space Force raises the stakes in NSSL race for military launches
Business

Space Force raises the stakes in NSSL race for military launches

July 24, 2023
Foxconn failed India chip effort shows how hard it is for new players
Technology

Foxconn failed India chip effort shows how hard it is for new players

July 24, 2023
Spain’s election ends with no clear majority, turning focus to coalition talks
Politics

Spain’s election ends with no clear majority, turning focus to coalition talks

July 24, 2023
How BMW uses AI to make vehicle assembly more efficient
Business

How BMW uses AI to make vehicle assembly more efficient

July 22, 2023
FTX lobbyist tried to buy island Nauru, create superspecies: lawsuit
Technology

FTX lobbyist tried to buy island Nauru, create superspecies: lawsuit

July 22, 2023
Bidenomics spurred stronger GDP growth: Morgan Stanley
Politics

Bidenomics spurred stronger GDP growth: Morgan Stanley

July 22, 2023
Scoop Nova

Scoop Nova is the only worldwide news organization with a European perspective, and it’s where the rest of the world goes to hear what the World has to say.

Categories

  • Business
  • Technology
  • Scandals
  • Politics

Quick Links

  • About Scoop Nova
  • Contact us
  • Editorial Principles
  • Why to trust us
  • Privacy Policy
  • Sitemap

Recent News

Space Force raises the stakes in NSSL race for military launches

Space Force raises the stakes in NSSL race for military launches

July 24, 2023
Foxconn failed India chip effort shows how hard it is for new players

Foxconn failed India chip effort shows how hard it is for new players

July 24, 2023

© Copyright 2022 ! All rights are reserved by scoopnova.com

  • Home
  • Business
  • Technology
  • Scandals
  • Politics

© Copyright 2022 ! All rights are reserved by scoopnova.com