KPMG commissioned a survey of 767 technology, media and telecommunication executives to understand their preparedness for the metaverse. The survey titled “Understanding the Value of the Metaverse,” shows many are trying to balance investing in an unknown future to avoid being blindsided by a metaverse pioneer, while making sure they don’t invest in projects that later become redundant.TMT leaders are excited about the opportunity of the metaverse, but few are taking action.
60 percent of tech, media and telco leaders believe metaverse success depends on increased customer demand.Only one-quarter of tech, media and telco businesses are highly prepared for the metaverse.Setting and tracking KPI and metaverse pilot projects will help companies build on their early success.
There’s opportunity to pilot metaverse initiatives and develop capabilities for the long-term within your own organization. The benefits of this include lower costs, lower risk , improved efficiencies, knowledge growth and tapping into existing capabilities.Closely monitor the progress of the metaverse and be nimble. Our survey showed highly prepared organizations have ambitious expectations for the metaverse, but also anticipate investing twice as much as their competitors.
KPMG in the Philippines Technology Consulting Head and TMT Lead Jallain Marcel Manrique further explains, “the TMT sector plays a crucial role in the economy, with technology and telecommunications witnessing rapid growth and expansion. Understanding how the metaverse can impact this sector is essential for companies and policymakers in the country to stay competitive and seize emerging opportunities.