Can you imagine a world where you can teleport from one place to another with just a snap of your fingers, explore different worlds, and socialize with your friends all in the safety of your own room? These scenarios may seem far-fetched now, but this is the vision promised by the “Metaverse.”
The term “metaverse” was first coined by a science fiction author Neil Stevenson in his 1982 classic, Snow Crash. It combines the words “universe” and the prefix “meta,” which means beyond. Apart from the fact that they are taking place virtually, people can socialize, raise virtual pets, generate money using cryptocurrency and even attend concerts.
When Facebook changed its name to Meta (NASDAQ:FB). The term “Metaverse” became a hot topic. Major tech companies started talking about it in their conferences and began investing in the potential of what the Metaverse has to offer. Bloomberg reports that Microsoft contributed a total of $68.7 billion toward the purchase of the massive video game developer Activision Blizzard as a down payment on Metaverse. This has been an issue of conversation for a while among tech giants, especially those in the gaming industry (such as NVIDIA, Adobe Systems, and Roblox).
So, how big is this opportunity? Many believe that the metaverse will be the next digital “big bang” after the smartphone. Bloomberg reports that this will provide growth opportunities for tech manufacturers and the industry is expected to have a compounded annual growth rate of 44.1%. Its market size, meanwhile, is projected to reach $8 billion by 2028.
Many businesses are being drawn to this gold rush in an effort to get in on the action. In fact, there has been a lot of effort regarding AR/VR capabilities that incorporate sight and sound for immersive user experience. In this case, well-established audio and eyeglass industries may benefit from the metaverse. In a report that Apple made in 2021, the sale of Apple Air Pods alone reached $85 million that year. Even more money is made each year in the eyeglasses industry reported by Statista.
The virtual world can be differentiated to various platforms like gaming platform, work platform, and consumption platform. It is important for the circulation of data and programs to work seamlessly between virtual and real world with no hindrances. High-speed computing and data storage will grow exponentially in the near future, and this integration of the virtual and the real world will provide new business opportunities in different industries to come.
The metaverse technology requires high-bandwidth memories that have strong scalability and the ability to respond quickly to operational needs. According to Market Prospects, there have been several breakthroughs in place for the semiconductor industry, such as the development of DDR5, PCIE5, CXL 1.1, etc. And the multiplier effect of AI (Artificial Intelligence), quantum technology, and in-memory computing has become a topic in the semiconductor industry.
In terms of production and manufacturing, all significant factories are increasing their capacity for output, and innovative modern technologies continue to push the boundaries of the past. An example of this is the VTFET (Vertical Transport Field Effect Transistors) technology, IBM’s new chip architecture, made for 3D stacking which demonstrates a path to continue scaling beyond nanosheet. This led to the recent development of FinFET design structure. All these advancements have enabled the chip industry to surpass Moore’s Law’s predictions, and innovations that will keep opening new opportunities for greater mass production.
Because of this surge in interest, it will lead further to the development of technology that will offer a detailed and authentic virtual environment. In the coming years, we can expect to see businesses commit to products and technologies that will improve the user experience as the content and software side of the metaverse develops and expands.
About IBS Electronics
IBS Electronics is a reputable international distributor of semiconductors and electrical components that focuses in offering cost-effective cross alternatives to Tier 1 brands. By applying ISO 9001:2015, AS9120B, and AS6081 protocols, we are committed to offering customized logistical solutions that will simplify your supply chain and guarantee quality so that we can consistently deliver high-quality products and services that go above and beyond for our clients. With offices throughout 100 nations, the business has its headquarters in Southern California. To learn more about IBS, visit our website at www.ibselectronics.com for more information about our services.