Nokia/EY study: 80% of enterprise/industrial metaverse early adopters predict "significant" or "transformative" impact

Companies that have already deployed industrial metaverse use cases are seeing more reported benefits than those still in the planning phase expect, most notably in capital expenditure reduction (15%), sustainability (10%) and safety improvement (9%), according to a study published today by Nokia and EY. Examining the current state of the enterprise and industrial metaverses, The metaverse at work1 study which surveyed 860 business leaders across six countries shows that the industrial metaverse, particularly, is expected to deliver on and beyond expectations.

The findings show that companies believe in the power of the metaverse and that metaverse technologies are here to stay. Only 2% of respondents see the metaverse as a buzzword or a fad, while 58% of companies with future metaverse plans have already deployed or piloted at least one metaverse-related use case. Nearly all (94%) of those who have yet to begin their metaverse journey plan to do so in the next two years.

Companies also say the industrial metaverse is creating substantial business value. On average, 80% of those who have already implemented metaverse use cases believe they will have a significant or transformational impact on the way they do business. Nearly all (96%) respondents see how, by mixing physical and virtual use cases, the metaverse brings additional innovative capabilities that will allow them to accelerate the deployment, adoption and monetization of Industry 4.0 for their business.

In terms of geography, the US (65%), UK (64%) and Brazil (63%) are currently leading the way when it comes to having deployed or piloted at least one industrial or enterprise metaverse use case. The average in Germany was 53% while Asia Pacific is less advanced (Japan, 49%; South Korea, 49%).

When asked which use cases they most expect to deliver transformative value, enterprises saw the highest potential in the use of extended reality for training to onboard and upskill the workforce, while three out of the four industries surveyed chose the use of virtual R&D to enhance product design and processes.

Full story via this press release.