Industrial Metaverse Spend to Reach US$6.3 Billion by 2030 As Immersive Engineering Use Cases Take Hold

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NEW YORK, Feb. 8, 2024 /PRNewswire/ --The industrial metaverse (IMV) is set to greatly enhance manufacturing engineering, training, safety, and production. According to a new report from global technology intelligence firm ABI Research, spending on industrial metaverse solutions and services will grow at 22.8% to reach US$6.3 billion by 2030 as immersive and collaborative capabilities come to the forefront of industry 4.0 software development efforts.

IMV solutions use immersive technologies and digital twin initiatives, integrating data virtualization, Artificial Intelligence (AI) simulation, business operations systems, and external data sources to enable connectivity between digital twins and other systems. "Top IMV use cases for 2024 will be in training, collaboration, and production planning, with a strong emphasis on solutions that drive positive business outcomes in a short timeframe," explains Ryan Martin, Senior Research Director, Industrial & Manufacturing at ABI Research. "Large deployments that are costly or take a long time to demonstrate value will be avoided in favor of smaller projects that drive incremental results that scale."

Examples include Norwegian clean battery producer FREYR equipping its gigafactories in Norway and in the U.S., Siemens Industrial Operations X, AWS IoT TwinMaker, and NVIDIA Omniverse are creating immersive metaverse experiences. Danone is using Matterport Pro3 cameras to capture 3D imagery of its facilities so authorized users can virtually visit and explore the production site using a computer or mobile device. Burckhardt Compression uses PTC's spatial computing services for remote assistance and automated report-generation scenarios involving a supertanker in the middle of the ocean. Other notable providers include AVEVA, Dassault Systèmes, Ericsson, Microsoft, and Nokia.

"The dream to enable full factory metaverse experiences is far from realized, but the work has begun," Martin concludes. "Initial implementations will start with a portion of a factory or production line, likely on an as-needed basis. The broader environment is well-suited to partnerships that ease points of integration and enable marketplaces in the long run."

These findings are from ABI Research's Industrial Metaverse: Use Cases, Deployments, and Case Studies report. This report is part of the company's Industrial and Manufacturing Technologies research service, which includes research, data, and analyst insights.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。

For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

"Siemens is making the industrial metaverse more accessible so that our customers can use it to solve their real-world problems faster, more sustainably and with greater efficiency – and we will make it available to companies of all sizes, so that everybody can turn their big ideas into world-changing innovations," said Cedrik Neike, Member of the Managing Board of Siemens AG and CEO of Siemens Digital Industries.

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SOURCE ABI Research