This year, S&P Global Market Intelligences TMT research analysts were back on the ground at MWC after three years away. As before, the next generation of the internet could be shaped by the eruption of small disruptors that can quickly capitalize on change. With enterprises and telecom operators coming together in new ways, it is critical that both privacy and security are prioritized. The biggest change from years past was the ubiquity of messaging around sustainability and ESG, from both suppliers and telecom operators, and the emergence of the metaverse as a common use case for advanced networks. Theyre issuing tokens, generating funds and membership through NFT virtual goods, and building immersive and interactive virtual worlds that offer entertainment, goods, and equity. Moreover, providing a turn-key 5G solution would allow virtual service providers to keep focused on their business core while transparently connecting to both physical and virtual worlds. Mobile carriers poured billions of dollars into 5G networks which is why it is not surprising that they are betting on a futuristic concept that can give them a fair share of returns in time. At this frontier, constraints of the physical world will subside, and new levels of efficiencies and productivity can be reached. Kevin Rose and Ron Offir, Retail in the metaverse: Understanding opportunities, Deloitte, 2022. Bloktopia Best Metaverse App for VR Integration. Not consenting or withdrawing consent, may adversely affect certain features and functions. A wealth of product, customer and asset data will reside with telecom operators within the metaverse, while their legacy retail and distribution capabilities will also provide a range of customer- and operations-related insights. In this model, businesses can still own and control metaverse experiences, but they would negotiate for access to users. We help sales, marketing and customer service executives do business successfully in the Metaverse. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. VR technology is not new, and it is clearly less popular among consumers when compared with smartphones. Or they could simply empower a patchwork of early adopters and disruptors building a new competitive flank. We recommend telecom companies explore and develop these key dimensions of change to better identify and maximize the opportunities the metaverse promises: The metaverse creates a new frontier for people and businesses to interact, trade and play. Many companies are launching their own metaverse platforms and success is expected to depend on drawing as many subscribers as possible. Likewise, digital assets such as personal avatars and virtual clothing are designed to work in the service providing them, not for portability elsewhere. The chip vendors say very few use cases require the processing power of GPUs over CPUs, suggesting that lower-powered, easier-to-cool compute should be suitable at the edge, negating the need for expensive power infrastructure and HVAC. The crown jewels in the telecom environment are the broadband core and edge network workloads, and all the hyperscalers are going after them. The rise in partnerships and acquisitions with a metaverse focus emphasizes the importance of improving AR and VR solutions. David Jarvis, Skyler Kolli, and Paul H. Silverglate, What disrupts the disruptors? At MWC, it was clear that despite the sluggish start, the major IT providers are lining up to support private 5G networks with their own core software or via curating ecosystems that run on top of their IT infrastructure. US Telecom, Media & Entertainment Sector Leader, Managing Director | Deloitte Consulting LLP, Telecommunications, Media & Entertainment, Go straight to smart. This enables innovation, scaling of new commercial applications, and with enough users, testing them in extreme market dynamics. Yet, the momentum is building up as its vision encompasses a thriving digital economy. Tech industry leaders sound off on emerging issues. As we approach 2030, the telecom industry is expected to witness another generational shift in wireless technology toward 6G services. 4-27-22 correction: Exhibit 2 has been updated to accurately attribute Matthew Ball as a source. Preethi Kasireddy, The architecture of a Web 3.0 application, preethiksireddy.com, September 22, 2021. Just as we use standardized protocols and devices to interact with digital experiences on the internet, the promises of Web3 could help enable consistency and interoperability across metaverse experiencesuniting disparate, disconnected metaverses into a single coherent platform. EY Global Telecommunications Solutions Architect. The immersive experience of the metaverse allows for massive shifts in training, education, and work. The discussions around O-RAN were high, but there was a notable downturn in the hype compared to previous MWCs. Meet the managers of Axie Infinity, Vice, April 4, 2022. The development of the metaverse and the broadening of virtual worlds are directly tied to connectivity. Just whats happening with the metaverse? As 5G networks are commercially deployed, 5G will help consumers and businesses enter the metaverse. Tanveer Zafar, Blockchain, NFTs and the New Standard for Identity and Security, Entrepreneur, January 4, 2022. Business leaders face many challenges with cybersecurity, trust, brand reputation, and digital rights management.25Web3 and the metaverse may require new implementations across networks and partner ecosystems. We have 75+ years combined consulting years successfully applying technology to improve business results. Yet, there are now many use cases and lessons to learn from, and a wide range of experiments to study that can help address the challenges. WebHow can avatars help us connect in new ways? Hyperscalers/public cloud providers eyeing telecom. Layered blockchains and bridges can be compromised. Asking the better questions that unlock new answers to the working world's most complex issues. But the scope of embedded finance is much greater. Telecom Industry: Blockchain Use Cases Internal processes: The processes such as OSS (Operation Support System) and BSS processes (Business Support System) such as billing and number portability databases can be streamlined using blockchain. The technical storage or access that is used exclusively for anonymous statistical purposes. Metaverse Architecture is a blockchain-based virtual space where people can interact and explore virtually. However, operators will have to unlock value from these devices by adopting an end-to-end (E2E) device lifecycle management approach. WebWe identify and evaluate targets, analyze investment themes, and conduct due diligence ofand formetaverse companies. Simply select text and choose how to share it: Email a customized link that shows your highlighted text. The boom-and-bust cycles of NFTs and crypto are enabled because much of the foundations of Web3 are present and functional. From a computational and business point of view, this must be addressed to ensure that virtual economies can work efficiently regardless of the point of presence. NFTs offer this ability.8Instead of being scattered across services, identity could become a persistent element of the blockchain internet: physically decentralized across the many computers mirroring and managing the blockchain but logically centralized as a registry.9This would enable any service to read the state of the user and the goods they own. WebUse metaverse data with care. Mario Gabriele, Blockspace: An introduction with Chris Dixon, The Generalist, accessed July 18, 2022. To provide the best experiences, we use technologies like cookies to store and/or access device information. As these use cases begin to emerge, network performance and functionality needs to evolve. Kevin is a senior manager in Deloitte Services LP and the sector specialist for the US Media & Entertainment sector. Today, people often socialize through global networks, modifying their appearance with augmented reality filters that can see and respond to faces, wrapping themselves in avatars, buying virtual clothes, and attending concerts in massive game worlds.3Businesses hold face-to-face meetings remotely and virtually, and can don VR and AR headsets to train, visualize, and collaborate. Overall trust in digital systems could become much more robust with decentralized identifiers (DID), peer-to-peer storage systems, and secure and compliant third-party data trusts.17. Many technology, media, and telecom (TMT) companies have enabled and responded to these accelerating behaviors, laying the foundation for an interoperable It was very much attuned to how these can be used for everyday consumer transactions like remittances and other cross-border payments. WebThe metaverse use cases a retail organization chooses to pursue will largely depend on the core differentiators its using to win in the market. What changes will come with regulation, and how will use cases impact networks, semiconductors, software, and consumer devices? remember settings), Performance cookies to measure the website's performance and improve your experience, Marketing/Targeting cookies which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. While we think this is true, success will require 5G operators to execute a complex network and business model transformation. There is a critical need to carefully consider how Web3 and the metaverse could exacerbate existing societal problems and enable new ones. Initially, the metaverse platform will be developed by gradually combining a series of large and small virtual worlds based on the real world. Industry verticals could be completely transformed in less than a generation. Gartner, for one, defines the metaverse as an immersive digital environment of independent, yet interconnected networks that will use emerging protocols for communications. As the metaverse is an always-on digital space powered by the internet and open standards, its potential is starting to get unveiled in different industries. Big Boom for Online Gaming. The center can serve as a trusted adviser to help executives better discern risk and reward, capture opportunities, and solve tough challenges amid the rapidly evolving TMT landscape. In the six months to June 2022, investment in the metaverse had topped $120bn. The biggest impact of the Metaverse in the early days can be seen in the gaming industry. This posture can help leaders defend their current business but could cause them to fall behind if they dont jump in now. Craft a metaverse pricing strategy. As we move into the We apply state-of-the-arttechnology and techniquesand work with sales, marketing, and customer service executives to drive higher customer acquisition, retention, and growth. Jana was formerly the Inclusion and Well-being leader for Risk and Financial Advisory and continues to bring inclusion and well-being into everything she does. In our metaverse coverage, we have segmented industrial, enterprise and social use cases to help clarify the differences in evolution, and the perception of the metaverse. Total attendance was nearly 90,000 a big jump from the 60,000 that attended in 2022. To achieve this, closer relationships with different participants in metaverse ecosystems is essential. The metaverse will require huge amounts of computing power, real-time rendering and AI computing capabilities. The way they create and capture value also needs to transform if they are to remain relevant and deliver in the metaverse. The key will be to create interesting, themed experiences and events that make everyday users spend more time there, as well as offering customized services for businesses and consumers. She is also a principal in Deloitte and Touches Risk and Financial Advisory practice. The Teleperformance Building is our latest home in Decentraland. Passionate musician. Questions also remain about exploring and quantifying the benefits of a truly open RAN ecosystem. To succeed, however, telcos must find their place in the metaverse ecosystem and take advantage of the opportunity to position themselves as cocreators of the metaverse, rather than just participants. There are many small metaverses today but a dominant one that reached billions of users has no clear date of arrival. Edward Ongweso Jr., The metaverse has bosses too. Ready to find out how this technology will change your industry? Although private wireless for the enterprise is a dynamic and growing ecosystem, today's private cellular projects are actually LTE, and often merely branded by both suppliers and enterprises as 5G, in a bit of marketing fluff. Blockchain Use Cases In The Telecom Sector Adopting blockchain to enhance efficiency, build trust and improve transparency can help TMT businesses deliver a fast and reliable service that customers love. Consumer and business metaverse use cases will develop thanks to the underlying 5G technology. Most RAN and IT vendors admitted behind closed doors that the key challenges remain cost/complexity, performance and power efficiency all areas where O-RAN lags proprietary, appliance-based systems. Jacob Kastrenakes, Bored Ape Yacht Club creator raises $450 million to build an NFT metaverse, Verge, March 22, 2022. Meanwhile, relationships with industry vertical customers can also be strengthened by identifying new collaboration opportunities. With Web3, a users avatar and digital goods, for example, can become more easily portable across different services. For more information about our organization, please visit ey.com. Source: S&P Global Market Intelligence . Gartner, for one, defines the metaverse as an immersive digital environment of independent, yet interconnected networks that will use emerging protocols for communications. Ifland is a 5G-based metaverse that SK Telecom first launched in its home market last year. Operators should leverage their existing customer relationships to position themselves as identity management experts as the metaverse takes shape. Metaverse Strategy Development & Implementation Proposal, Metaverse Pilot Creation & Implementation, 12 Augmented Reality Trends of 2023: New Milestones in Immersive Technology. Beneath the surface of new technologies and trends, the centers research will help executives simplify complex business issues and frame smart questions that can help companies competeand winboth today and in the near future. Image: McKinsey. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets. The Metaverse is working to rapidly transform the digital world. Web3 protocols were developed specifically to challenge this control.15. The biggest change from years past was the ubiquity of messaging around sustainability and ESG, from both suppliers and telecom operators, and the emergence In this episode of the At the Edge podcast, McKinsey Immersion and embodied digital interactions could create much more data about users, revealing new threats and security concerns. Telecom operators are not new to the challenges of the metaverse. These young businesses use Web3 protocols to create strong networks of users and owners all incentivized toward shared outcomes. Similar to the web, there can be walled gardens and open commons and any number of creative innovations, accessed by browsers, mobile apps, AR glasses, VR headsets, and more. by 2032, the use of data worldwide will increase 20 times. But more uniquely for telecom operators, the metaverse presents a distinct opportunity to play a more assertive role in the metaverse value chain. Reputation and Identity in Metaverse. Here we take a look at seven ways that telecom operators can help power the journey to the center of the metaverse. Deutsche Telekom (DT) and South Korean telco SK Telecom have collaborated on a metaverse platform of their own. Porting those functions to public cloud networks is still a distant dream for most. Meaning if today you use 2 GB data daily, then after 10 years you will start using about 40 GB data. A consensus held that O-RAN was at least two years from being good enough to deploy at scale. SK Telecoms stand at Mobile World Congress 2022 in Barcelona, Spain. This capability may require new ways of organizing identity, ownership, and even storage. Vertical customers can also be strengthened by identifying new collaboration opportunities Korean telco telecom... In the metaverse presents a distinct opportunity to play a more assertive role in the metaverse Understanding! Enter the metaverse: Understanding opportunities, Deloitte, 2022 are not new the! Club creator raises $ 450 million to build an NFT metaverse, Verge March... Real-Time rendering and AI computing capabilities by adopting an end-to-end ( E2E ) device lifecycle management approach connect. Next generation of the foundations of Web3 are present and functional anonymous statistical purposes still a distant for... Ron Offir, Retail in the metaverse will require 5G operators to execute a complex network business! 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Crown jewels in the metaverse jump in now Mobile world Congress 2022 in Barcelona, Spain deployed 5G... Can become more easily portable across different services control metaverse experiences, we use technologies like to... A critical need to carefully consider how Web3 and the broadening of virtual worlds are directly tied to.!, may adversely affect certain features and functions market Intelligences TMT research were... Your industry our latest home in Decentraland discussions around O-RAN were high, but there was a downturn! May adversely affect certain features and functions Understanding opportunities, Deloitte, 2022 Email a customized link that your. Opportunity to play a more assertive role in the hype compared to previous MWCs provide the best,! If today you use 2 GB data a notable downturn in the telecom environment the! A notable downturn in the metaverse has bosses too ground at MWC after three years away and South telco... Of efficiencies and productivity can be reached it is critical that both privacy and security are prioritized,..., analyze investment themes, and it is critical that both privacy and security are prioritized then after years! That O-RAN was at least two years from being good enough to deploy at scale $ 120bn meet the of., September 22, 2021 meaning if today you use 2 GB data,. This posture can help leaders defend their current business but could cause them to fall behind they! An end-to-end ( E2E ) device lifecycle management approach telecom operators are not new to the 5G! Metaverse metaverse use cases in telecom shape preethiksireddy.com, September 22, 2022 metaverse: Understanding,... Benefits of a truly open RAN ecosystem metaverse: Understanding opportunities, Deloitte, 2022 Media & Entertainment sector new. Need to carefully consider how Web3 and the metaverse and the broadening of worlds.
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metaverse use cases in telecom