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Metaverse between skepticism and hope

German companies are still hesitant when it comes to the metaverse. A fifth see it as an opportunity, but almost as many see it as a risk. Investments are set to increase in the coming years.
E3 Magazine
October 15, 2024
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This text has been automatically translated from German to English.

The German economy is still standing on the brakes when it comes to the metaverse, according to a representative survey commissioned by the digital association Bitkom. Despite the many possible applications, there is still a great deal of uncertainty regarding the legal framework and the requirements for IT security and data protection. 37% believe that the metaverse will have no impact on their own company.

The biggest challenge for companies is a perceived lack of practical applications (76%). Three quarters (73%) do not yet consider the technology to be mature. 55 percent complain about insufficient standardization. At the same time, around a quarter (23%) are interested in and open to the metaverse, but almost as many (24%) are critical and reject it.

The largest group is still undecided (43%). One in ten companies state that the metaverse threatens their own business model, while 15 percent even feel that the metaverse threatens their existence.

Rising investments

But the market has potential. Investments in the metaverse are likely to increase significantly in the coming years. It is true that only two percent of companies invested in this area last year, and practically none did so earlier. However, six percent are already planning to invest in the metaverse this year, nine percent plan to do so in 2025 and as many as 22 percent expect to make their own metaverse investments after 2025.

bitkom.org

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