There Is No Metaverse Today, But Be Prepared

See beyond the hype of unleashing real opportunities

Metaverse is a source of many promises, confusions and speculations. The media headline refers to any augmented reality (XR) experience as a “metaverse”, but it’s confusing: Metaverse doesn’t exist today, only a few predecessors do. And we are many years away from implementing the 3D level interoperable and interlinked immersive environment of the Internet.

Our recently published report, “The State of the Metavers,” establishes Forrester’s definition and perspective on Metaverse and recommends that business leaders plan for future opportunities – experimenting with Metaverse predecessors – tampering with expectations and investments.

Consumers are skeptical about Metaverse and Meta, Inc.

Although companies are jockeying to create metavers, consumers are skeptical: according to Forrester’s December 2021 Consumer Energy Index and Retail Pulse survey, approx. One-third of online adults (34% US and 28% UK) are excited for metavars And Less than 30% (29% US and 25% UK) think Metavers would be good for society.

In February, we asked Forrester’s ConsumerVoice Market Research Online Community (MROC) to describe “metavers” (see Figure 1). The responses (reflected in the word cloud below) reveal how Facebook looks inconsistent – a credit to Facebook Inc.’s October, 2021 renaming of “Meta”. In fact, about half (47%) U.S. online adults (and 37% of UK online adults) who indicate that they know what Metaverse is, add Metaverse to Meta, Inc. – More than any other company surveyed in our December 2021 Consumer Energy Index and Retail Pulse survey. However, Very few (22% US and 17% UK) think that Meta is the leader in creating Metaverse.

Forrester: Metavers Word Cloud
Figure 1: In February, we asked Forrester’s ConsumerVoice Market Research Online Community (MROC) to describe “metavers.”

Enterprise Innovation is a wonderful way to screw people over

The Metavers-style experience has a good chance of driving near term value in the workplace. In the wake of the epidemic, companies have adopted work strategies everywhere – including more distributed work forms – including hybrid office strategies. Work anywhere opens up the need for innovative tools that can help employees connect, such as the cloud virtual office employed by the early adopter Accenture. Built on a Metaverse-style experience, Cloud Concept Virtual Office incorporates Metaverse predecessor technologies such as avatars, virtual rooms and digital whiteboards.

But for the enterprise experience employees need to climb a steep learning curve. After they do, we think something interesting will happen: the reverse subscription of IT, which will cause some employees who want to use Metavers-style experiences in the workplace to use them at home as well.

Read our full report to go deeper:

  • What is Metaverse and what is not Metaverse
  • Forrester’s metavars are three stages of maturity
  • How Metaverse will affect the customer experience (CX)
  • Forrester’s Consumer Metavers Acceptance Segmentation
  • Why the future of work is the key to unlocking Metavers
  • Tech and non-tech headwinds are facing metavars as it is being created
  • Next steps for CMOs, CIOs / CTOs, Digital, Design, HR, and Ops leaders

And don’t forget to register for us April 8 Webinar: “The State of the Metavers: Look Beyond the Hype” and Join Us June 7 Panel: “Ready Player Brands: Marketing at Metaverse” in CX North America.

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