What is it?
The industrial metaverse involves convergence of the physical and digital worlds in an industrial setting. It involves creating a virtual representation of an industrial environment, such as a factory, warehouse, or supply chain, where real-time data from various sources, including sensors, machines, and systems, is integrated and visualized in a 3D, immersive, and interactive manner. This virtual environment enables remote monitoring, optimization, simulation, and collaboration, leading to improved efficiency, productivity, and decision-making in industrial processes. Enabling technologies include I, nternet of Things (IoT) sensors and devices, 5G and edge computing, Artificial intelligence (AI) and machine learning (ML), Virtual reality (VR) and augmented reality (AR), Digital twin platforms, Blockchain and distributed ledger technologies (DLT), and Advanced robotics and automation.
Why is it important?
The industrial metaverse enables real-time monitoring, optimization, and predictive maintenance of industrial processes, leading to reduced downtime, increased output, and lower costs.Immersive virtual environments allow remote teams to collaborate seamlessly, access expert knowledge, and make informed decisions, regardless of their physical location. Virtual simulations and digital twins enable rapid prototyping, testing, and optimization of new products and processes, reducing time-to-market and fostering innovation. The industrial metaverse also enables realistic, risk-free training and education in virtual environments, improving workforce skills and safety.
What industries will it impact?
Manufacturing, Logistics and supply chain management, Energy and utilities, Healthcare and pharmaceuticals, Construction and architecture, Aerospace and defense, Agriculture and food production.
Market players
Nvidia, Meta, Microsoft, Hexagon, NavVis, Siemens.