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      Value of the metaverse

      Tech, media and telco leaders are excited about the opportunity of the metaverse, but few are taking action.

      59% believe

      the metaverse will have a huge impact on business and consumers.

      53% are investing

      in metaverse staffing and resources.

      Investing in the metaverse is expected to have a big impact on digital transformation, innovation and customer engagement.

      Leaders are looking to the metaverse to drive revenue and profit.

      61% believe

      they would see an increase of over 55% in revenue and profit margins.

      57% have plans

      to implement augmented reality tools.

      Top desired outcomes: improved customer experience, product innovation and revenue growth.

      The gap between action and capability is the main challenge for organisations in adopting the metaverse

      Almost Two-thirds

      of companies feel unprepared for designing metaverse experiences and processes.

      Proper technology and skill sets are the primary barriers to metaverse adoption and planning.

      60% 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.

      At least Two-thirds

      of respondents agree that hiring talent for the metaverse is a big priority.

      Setting and tracking KPI and metaverse pilot projects will help companies build on their early success.

      Highly prepared companies are investing more in the metaverse and are more likely to anticipate those investments having a big impact.

      Download the report

      Leaders in the technology, media and telco (TMT) industries across Australia and globally, are excited about the metaverse – but their expectations are not yet matched by action.

      KPMG commissioned a survey of 767 TMT executives to understand their preparedness for the metaverse. The survey 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.

      Understanding the value of the metaverse

      Understanding the value of the metaverse

      How technology, media and telecommunications companies can navigate the metaverse
      Download
      Focus on developing your skills, knowledge, and preparedness internally while waiting for the metaverse to gain widespread adoption. This will not only enhance employee retention and communication but also equip you with valuable experience and a competitive edge when the opportune moment arrives. It is worth remembering that the internet originated as an internal communication network for the US government, with an aim to explore its potential as an enterprise tool. This laid the groundwork for a technology that now permeates every aspect of our lives.

      Levi Watters

      National Sector Leader – Technology, Media & Telecommunications

      KPMG Australia

      How KPMG can help

      As the world continues to change, TMT organisations must be ready to explore future opportunities like the metaverse, and adapt accordingly.

      KPMG Futures is a service group within KPMG Australia providing insights around global change and trends. Backed by our Innovation Lab, the KPMG Future Technology Program and our broader set of offerings, our clients can access a diverse range of perspectives and subject matter expertise.

      Drawing on our deep experience, we offer consulting and strategy services to help TMT organisations harness evolving technologies and develop innovative strategies which we support through to targeted results.

      Download

      Understanding the value of the metaverse

      Understanding the value of the metaverse

      How technology, media and telecommunications companies can navigate the metaverse
      Download

      Metaverse opportunities for organisational challenges

      A metaverse approach could be to use Co-creation. This is a digital platform offering product co-creation with users and fans.

      A metaverse approach might be to use loyalty assets. This includes incorporating digital assets or experiences designed to promote loyalty.

      A metaverse approach might be to use physical goods. These are the integration of physical and digital goods for a better customer experience.

      A metaverse approach could be to consider mixed reality training for sales, customer service and diversity and inclusion.

      In the metaverse, consider data sovereignty. This is a blockchain based self-sovereign identity (rather than relying on third parties) and includes data monetisation and data portability.

      Contact us

      If you would like further information about KPMG Metaverse, please contact us.

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