KPMG: Tech leaders interested in the future of metaverse, not the present

KPMG released a report this week on what leaders in the technology, media and telecom industries think of the metaverse. The report — which was created as part of the company’s larger metaverse survey, which it also released this week — suggests that these TMT leaders are interested in the metaverse, but not as it currently exists: several of them seem to think that the metaverse will have a major impact within the next decade, but don’t necessarily allocate resources to it right now.

The reports show that six out of ten TMT leaders believe the metaverse will have an impact after further development. In addition, nearly 75% of those surveyed say their company spends 5% or less of their budget on metaverse initiatives. KPMG also reports that most respondents feel that metaverse use cases will not become mainstream for at least another four years. This in contrast to that of KPMG research among investorswho believe that the early investment period in the metaverse may already be over.

Mark Gibson, KPMG’s global and US TMT leader, said in a statement: “The ultimate vision of the metaverse may not be here today, tomorrow or even next year, but it is poised to have a profound impact on the TMT sector. There is a price for investing heavily in an unknown future and a price for doing nothing. Our research identifies numerous gaps that allow metaverse stragglers to chase their more ambitious competitors as the metaverse market evolves and matures.

That is not to say that the respondents’ view of the future is bleak. About 50% of those surveyed plan to invest more in the metaverse, while 43% plan to do so within the next two to four years. The post-pandemic period may also free up cash for companies to invest more explorably in the metaverse.