Technology Author: Fuller Wang Editor: Luke Sheehen Jan 25, 2022 12:38 PM (GMT+8)

EqualOcean NY team is planning EqualOcean Monthly Webinar Program in 2022 with 12 different themes and the first one will be Industry Projections for the Metaverse in 2022 and Beyond, for which we Invited Kevin Vincent, a VP of Global Business from Utopia VR, one of the metaverse meeting pioneers in Canada.

virtual meta meeting

Zoom can be said to be one of the biggest beneficiaries since covid-19. Since the outbreak of the global epidemic in early 2020, Zoom has attracted a large number of new users and promoted the growth of its market value. Zoom announced that due to the large-scale video conference launched by companies worldwide, there were about 497,000 customers with more than ten employees, up 87% year-on-year. 1,999 customers contributed more than USD 100,000 in revenue over the past 12 months, increasing about 160% over the same period in the previous fiscal year. The increase of users also promoted the substantial rise of Zoom's revenue. During the fiscal year 2021(from February 1st, 2020 to January 31st, 2021), the company's total revenue reaches USD 2.65 billion, surging 326% year over year. According to the number of users, Zoom's total revenue in 2021 will reach USD 4 billion.

Covid-19 and Zoom Fatigue

However, Zoom call is not as perfect as we thought because a new symptom, Zoom Fatigue, has been coming into people's minds. Researchers from Stanford University recently published in the journal Technology, Mind and Behavior, exploring why people might feel tired following Zoom meetings (video calls). They found that 13.8% and 5.5 % reported feeling 'very' to 'extremely' fatigued after Zoom meetings after surveying 10,322 participants in 2021. Even the CEO of Zoom has said he struggled with the Zoom fatigue problem in May 2021. According to Gartner, by 2024, 30% of workers in the world will work at least part of the time remotely, and another 10% of them will work remotely forever, showing that zoom fatigue is an urgent problem to be solved.

Metaverse meeting is the key

This is a unique opportunity for the metaverse area, as the wave of liberalization of traditional business offices around the world has begun. Many people are not used to teleconferencing because of the lack of intimacy. The immersive experience of the Metaverse can overcome this problem. In conclusion, the metaverse conference can provide many demand features that zoom cannot offer:

  • Arbitrary views pulling

  • Arbitrary perspective conversion

  • Make clear to listeners the spatial aspects of the sound

  • Action language display

  • Crossing and interaction with other scenes

                          

 These characteristics make the metaverse conference make the interaction in the conference more thorough and further break the spatial boundary of conference content. More importantly, the room attribute brought by the metaverse conference makes the remote conference return to the essence of 'face-to-face communication.' At the same time, from remote office management, metaverse conferences can be expanded into metaverse offices, which can better comply with the trend of realizing employees' remote offices.

Supports from VR/AR

After the market outbreak of teleconference after the epidemic, it has moved from the stage of large-scale popularization to the next stage that needs to improve the sense of experience. Manufacturers in the industry are also actively layout. In addition to the renaming of Facebook to Meta, Satya Nadella, CEO of Microsoft, also said at the Microsoft Ignite 2021 that Microsoft would launch 'Mesh for Microsoft Teams' to support the mixed reality function and build a virtual experience platform. China's technology giants have not ignored this opportunity. In March 2020, HTC VIVE held the Virtual VIVE Ecosystem Conference (V ² EC 2020), which took place entirely in the virtual ENGAGE platform, becoming the Pioneer of China. Baidu also released its self-developed Metaverse to the public Monday during an artificial intelligence developers conference last year, allowing 100,000 users to interact and visit virtual locations through virtual characters at the same time.

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The revenue growth from installed Consumer VR headsets also indicates the market's potential. According to the data from Omdia, the revenue generated from installed Consumer VR headsets reached USD 26 billion in 2021, up 36.8% year-over-year. By 2026, we projected the market would expand to USD 75 billion, gaining a growth rate of 23.6%. How to seize the opportunity generated from the transform of meta-meeting are closely watched by investors globally.


If you want to learn more about the metaverse meeting, here is an extraordinary opportunity for you: EqualOcean NY team is planning EqualOcean Monthly Webinar Program in 2022 with 12 different themes. The first one will be Industry Projections for the Metaverse in 2022 and Beyond, for which we Invited Kevin Vincent, a VP of Global Business from Utopia VR, one of the metaverse meeting pioneers in Canada. The first event will be recorded and uploaded to different platforms, including Youtube, on January 28th, 2022 and be free for interested investors.

 If you want your business to be excellent by being part of this event or the following webinars of the EqualOcean Monthly Webinar Program, please get in touch with us via Chris@equalocean.com.

EqualOcean Poster - Industry Projections for the Metaverse in 2022 and Beyond.png.png

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