Trends Report

The State Of The Metaverse, 2024

The Metaverse Struggles To Exist While Virtual Worlds Unevenly Persist

January 24th, 2024
Martha Bennett, VP, Principal Analyst
Martha Bennett VP, Principal Analyst
Mary Pilecki, VP, Principal Analyst
Mary Pilecki VP, Principal Analyst
Andrew Cornwall, Senior Analyst
Andrew Cornwall Senior Analyst
Andras Cser, Vice President, Principal Analyst
Andras Cser Vice President, Principal Analyst
Paul Miller, Vice President, Principal Analyst
Paul Miller Vice President, Principal Analyst
J. P. Gownder, Vice President, Principal Analyst
J. P. Gownder Vice President, Principal Analyst
Meng Liu, Senior Analyst
Meng Liu Senior Analyst
Xiaofeng Wang, Principal Analyst
Xiaofeng Wang Principal Analyst
David Truog, VP, Principal Analyst
David Truog VP, Principal Analyst
Julie Ask, null
Julie Ask
With contributors:
Mike Proulx , Benjamin Nagle , Taylor Hansen , Gabrielle Raymond , Peter Harrison

Summary

Forrester named the metaverse one of its top 20 emerging technologies in 2023 after media, venture funding, and acquisition fueled a frenzy that started in 2021 and lasted well into 2022. Since then, the pandemic ended, China unwound its lockdown, and genAI took over as the it emerging technology. While the US consumer and enterprise metaverse markets have cooled, energy remains high for consumer use cases in Asia Pacific as well as industrial applications (e.g., digital twins) globally.

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