Industrial Metaverse Market Value to Reach $100-B By 2030

The metaverse? What is this, 2021? The consumer version of the concept may have stalled—apologies to Mark Zuckerberg, who renamed his $1.5 trillion company after it—but the industrial version tells a different story.

The industrial metaverse could be worth $100 billion globally by 2030.

A Wired report highlights how the convergence of simulations, sensors, and standards could result in a capability that’s genuinely useful to companies producing physical goods.

These firms stand to benefit from efficiencies delivered by a robust virtual counterpart, Andrew Nusca reported for Fortune Tech. Lowe’s is testing store layouts in virtual environments.

Amazon trains its virtual robots through simulations before deploying them in the real world. BMW models entire production lines virtually before committing to expensive, time-consuming factory retrofits.

According to the World Economic Forum, the industrial metaverse could be worth $100 billion globally by 2030. Just don’t call it the “m” word. The insiders know: the future is all about spatial computing.