NEW YORK, Nov. 3, 2022 /PRNewswire/ — Gaming technology will serve as the biggest driving force for the metaverse’s evolution in the near term as augmented reality (AR) and virtual reality (VR) hardware enables users to engage in virtual worlds in and outside of work, according to a new S&P Global Market Intelligence report released today. The latest publication 2023 Technology, Media and Telecommunications Industry Outlook is part of S&P Global Market Intelligence’s Big Picture 2023 Outlook Report Series.
New report highlights implications of the metaverse for gaming and enterprises, datacenter sustainability in a worsening energy crisis and the rise fintech as a service. In the report, video streaming competition is explored as well as broadband transformation in order to disrupt 2023.
“The foundational shift of the global economy to a digital footing—a shift that has been underway for over a decade and accelerated during the pandemic—continues. This is creating huge opportunities for new value creation, disruption,” he said. Eric Hanselman, Chief Research Analyst for TMT at S&P Global Market Intelligence.
These are the key highlights of the report:
- As big tech companies highlight the potential of VR and AR devices as a conduit into the metaverse, AR and VR device usage will continue to grow over the next five year. As of the end of 2021, S&P Global Market Intelligence estimates there were 28.5 million AR/VR headsets installed worldwide across consumer and commercial settings, and forecasts that base to grow to 73.6 million by 2026.
- Global energy crises may force datacenter operators to test out and install new equipment sooner than they anticipated. While hyperscale datacenters attract attention because they are so large, S&P Global Market Intelligence’s models show that cloud deployments can be up to 80% more efficient than typical enterprise IT deployments.
- The fintech as a service sector is rapidly attracting venture capital, with private startups in this sector raising more than $5 billion since the start of 2021.
- Rising inflation and rising costs of living may cause some consumers to cut back on streaming subscriptions. This could encourage the crowd chasing Netflix or Disney to put more emphasis on profitability than scale.
- Global pay television penetration is expected to fall to 51.2% in 2030, from 57.7% by 2021. Furthermore, global fixed broadband subscribers will surpass 1.09 billion in 2023. This is more than traditional pay-TV subscribers.
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