How will AR and the industrial metaverse shape businesses in 2023 and beyond?
As 2023 approaches, TeamViewer would like to share some tech predictions, specifically on how the industrial metaverse and augmented reality (AR) will shape industries in 2023 and the years to come:
Prediction #1: The AR and industrial metaverse will sustain adapted remote work practices post-pandemic
The pandemic has indeed accelerated digitization and shown the industry what is possible, even in a remote setting — especially when it comes to enabling business continuity through the use of AR and the industrial metaverse.
When countries restricted movements, and experts still needed to be on-site, there was an increased realization of what remote connectivity solutions can do, instead of engineers traveling to do their work.
While the world is gradually returning to pre-pandemic state, we foresee AR practices established during the pandemic to stay due to its benefits — particularly increased productivity, lower operational costs, and improved overall operational efficiency.
Prediction #2: The changing demographic will create a demand for training
Asia’s population is aging faster than any other region in the world, driven by a rapid demographic transition from higher to lower birth and death rates. The situation is particularly acute in East Asia, with 33.7% of the area’s population projected to be 65 or older by 2060.
Organizations are already thinking of how to address the forthcoming skilled worker shortage, and ensure young new talent quickly acquires the existing organizational knowledge and expertise.
AR once again comes into play with the passing of expertise from one generation to another. Through AR, the next generation will be able to bridge the knowledge gap in an experiential way, with step-by-step guidance presented to them right in front of their eyes.
Prediction #3: High industry growth in Asia will drive demand
The manufacturing sector in many Asia Pacific (APAC) economies has shown a significant rebound since September 2020, as lockdown measures have been significantly eased in many nations. Real GDP growth in Asia Pacific is expected to hit 4.3% in 2023.
APAC continues to be the location of global powerhouses, and creates constant demand for solutions to improve productivity, with the automotive, and household consumer products industries seeing double digit growth in 2021.
Prediction #4: Digitally savvy workforce to accelerate industrial metaverse adoption
A recurring concern about the industrial metaverse solutions is that they are “too new and too advanced” for those currently working on the factory floor. This segment is crucial as those frontline workers make up 80% of the workforce, working in manufacturing, picking or maintenance and interacting with physical objects.
However, current solutions are already easy to implement and require no IT knowledge as they are based on no-code approaches. Additionally, their familiarity with the technology in the industrial metaverse will increase as the general population becomes more digitally-savvy.
Prediction #5: Bring your own industrial metaverse device / BYOD
Even now, some companies are already implementing industrial metaverse solutions based on smartphones and tablets, to not fully rely on smart glasses.
This is a testament to how quickly hardware has developed over the last few years, and it takes advantage of solutions that are brand and product agnostic in nature. Some companies are using tablets to document their work activity, which is updated in their ERP system in real-time for example. Meaning, a successful industrial metaverse solution isn’t just about augmented reality and smart glasses, but instead focuses on managing data flows to help workers on the factory floor.
The increasing ubiquity of devices that can interact means a lower reliance on expensive customized devices and an increase in potential cost savings.