When the metaverse, which connects people around the globe virtually, is integrated into Meetings, Incentives, Conferences, and Exhibitions (MICE), it prospects incredible real-time interactive experiences for audiences and businesses. However, the advent of artificial intelligence, virtual reality, and augmented reality are changing this area in the most unexpected ways, making it a game changer for the MICE industry. - Doesn’t it sound futuristic? Not anymore.
Metaverse is turning this into reality, offering limitless opportunities in MICE. Along with that, artificial intelligence, virtual reality, and augmented reality are attracting businesses to explore the growth opportunities in the MICE market , which is likely to produce USD 1,466.94 billion by 2030. As this 3D technology is everywhere, spanning the digital world with its applications, various companies are adopting this technology into conferences and exhibitions. This trend is anticipated to boost the metaverse industry with a CAGR of 46.4% in the coming years.
Insights on Popular Real-World Metaverse Adoptors in MICE:
Meta (Horizon Workrooms)
Meta has stepped into the metaverse sector and is serving a platform based on Virtual Reality (VR) to enable business collaboration and meetings to enhance connectivity among individuals globally and uplift business avenues. To support this, the company has been investing in Horizon workrooms to achieve their future endeavors.
Accenture (Nth Floor Metaverse)
This company moved into the metaverse by advancing itself in the metaverse space and integrated it into the workspace for conferences and onboarding, intent to transform the future. This offers a virtual medium to connect, collaborate, and gain knowledge. Additionally, the company came up with digital twin settings where they created virtual offices, an interesting advancement contributing to digitalization.
Microsoft (Mesh for Teams)
This focuses on hosting hybrid meetings using 3D technologies to enable collaboration in immersive virtual space. Moreover, it provides various avatars in Teams meetings to make the interaction more immersive and productive for individuals. Also, it offers enterprise-level security to make it a reliable option for businesses.
With evolving technology, more businesses will opt for metaverse-powered events, and it will become standard to sustain in virtual-friendly spaces in the future.
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