NEW YORK, November 3, 2022 /PRNewswire/ — Gaming technology will be the primary driver of metaverse evolution in the near term as augmented reality (AR) and virtual reality (VR) hardware allows users to engage in virtual worlds on and off the job, according to a new S&P Global Market Intelligence report released today. The newly published Technology, Media and Telecommunications (TMT) Industry Outlook 2023 is part of S&P Global Market Intelligence’s 2023 Big Picture Outlook report series.
S&P Global Market Intelligence Outlook Forecasts AR and VR Installed Base to Hit Nearly 74 Million by 2026 as Gaming Tech Illustrates Metaverse Promise
The new report highlighted the implications of the metaverse in gaming and business, the sustainability of data centers amid a deepening energy crisis, and the rise of fintech as a service. The report also explores video streaming competition and broadband transformation as disruptive forces in 2023.
“The fundamental shift of the global economy to a digital underpinning – a transition that has been underway for more than a decade and accelerated during the pandemic – continues. This creates huge opportunities for value creation and disruption,” said Eric Hanselmanchief research analyst for TMT at S&P Global Market Intelligence.
Key highlights of the report include:
- Adoption of AR and VR devices will steadily increase over the next five years as major tech companies highlight the potential of hardware as a conduit to the metaverse. By the end of 2021, S&P Global Market Intelligence estimates that there were 28.5 million AR/VR headsets installed worldwide in consumer and commercial environments, and forecasts that figure to grow to 73.6 million. here 2026.
- The global energy crisis could push data center operators to test and install new equipment faster than expected. While hyperscale data centers are attracting attention due to their sheer size, models from S&P Global Market Intelligence show that cloud deployments can be up to 80% more efficient than typical enterprise IT deployments.
- The fintech-as-a-service sector is rapidly attracting venture capital, with private startups in this sector having raised more than $5 billion since the start of 2021.
- Rising inflation and cost-of-living crises could force some consumers to cut streaming subscriptions, which could prompt the pack that is suing Netflix and Disney to focus on profitability rather than scale.
- By 2030, global pay-TV penetration is expected to fall to 51.2% of residential households, from 57.7% in 2021. Additionally, the number of fixed broadband subscribers worldwide is expected to reach 1, 13 billion by 2023, surpassing the 1.09 billion traditional pay-TV subscribers. for the first time.
To request a copy of the 2023 outlook for the technology, media and telecommunications sectorplease contact [email protected].
S&P Global Market Intelligence’s opinions, ratings and credit-related and other analyzes are statements of opinion as of the date they are expressed and not statements of fact or recommendations to buy, hold or sell securities. or make investment decisions, and do not address the suitability of any security.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the importance of accurate, in-depth and insightful information. Our team of experts deliver unparalleled insights and cutting-edge data and technology solutions, partnering with clients to broaden their perspective, operate with confidence and make decisions with conviction.
S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s leading provider of credit ratings, benchmarks, analytics and workflow solutions for the global capital, commodity and automotive markets. With each of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.
Media Contact
Sung Ha Park
S&P Global Market Intelligence
+82 2 6001 3128
[email protected]
SOURCE S&P Global Market Intelligence
