Search
02.08.2022

Move forward Metaverse

Unlike today's cyberspace by exchanging information, the Metaverse is knowns as the Internet of Experience. One of Metaverse's ambitious visions is a vast and interoperable network of real-time 3D virtual worlds. It allows everyone to use immersive technologies to combine their five senses to achieve a synchronized experience.

The COVID-19 pandemic has changed how people live, entertain, work, and move around, creating a constant demand for activities run in virtual environments. Plus, the diffusion of Metaverse and the gradual maturation of virtual technologies/industries (VR, AR, and MR), combined with emerging technologies such as AI, Blockchain, Non-Fungible Tokens (NFT), and Cryptocurrencies, will drive the growth of the global Metaverse market.

Thus, the global Metaverse market was USD 62.6 billion in 2021. It is expected to grow to USD 848.8 billion in 2030, growing at a compound annual growth rate (CAGR) of 39.1% during the forecast period from 2022 to 2030.

Metaverse applicate in Fashion, Media & Entertainment, Education, and Aerospace & Defence: Virtual Runaway, Online Shopping, Gaming, Content Creation, Social Media, Conference, Aircraft Maintenance, etc.

Many Taiwan companies participate actively in the investment of the metaverse industry, and the government has issued many incentive policies. For example,

HTC is not only developing the next generation of VR but also released the world's first metaverse smartphone.

The world's first metaverse music label, 0x0, is from Taiwan.

Taiwan Company, Ennoconn, works with Google for a Metaverse project to create software that provides Metaverse users with an application that streams online virtual music concerts with an avatar.

Meta launches Asia's first XR hub in Taiwan. It also collaborates with Taiwantrade to build a platform where people can digitally engage with each other so that trade exhibitions are not just limited to physical or online events.

Highstreet positions Taiwan as the operation and communication hub in Asia. And its Taiwanese VR expert team built the first Metaverse consisting of e-commerce and games worldwide. It aims to bridge the physical and digital worlds with "Phygital products."

Hardware and software are vital competitive advantages to Taiwan to develop a global metaverse industry.

Metaverse highly demands hardware supplies. It depends on physical components allowing users to connect to the virtual world, such as a computer, a Virtual Reality (VR) headset, Augmented Reality (AR) goggles, and a smartphone. Plus, these physical porters cannot work without advanced microchips and processors.

Taiwan is the global semiconductor ecosystem's primary node and a cutting-edge pioneer in emerging technologies such as hardware and software integration, chipsets, processors, 5G, and Wi-Fi 6. Plus, there is an unequaled public infrastructure.

In the software part, Taiwan can lean on its excellent human resources and innovative potential in software: there are many awesome developers, creators, researchers, and artists, working on technology and applications.  

With the vigorous development of augmented and virtual realities, we are excited to witness Taiwan will become not only a decisive stronghold for the Metaverse industry but also an important hub to drive global innovation.

Read the letter also in:

Chinese (TW)

Ellisa Yang

MANAGER TAIWAN

Contact us
NEWater against water scarce
09.08.2022

Is it possible to turn a sewage recycling system for food use into a brand? Since 2003 Singapore has responded positively with NEWater, the brand launched by

More
Italy: drought and water shortages. Race against time
27.07.2022

Summer 2022, after a winter with 70% less snowfall and a rainfall deficit of 32%, temperatures 0.76 degrees above average and a 45% drop in precipitation,

More
In 2024, flying taxis will take off in Singapore
20.07.2022

For many years, the city-state of Singapore has been recognized globally for being a testing laboratory for smart mobility. There are several goals planned

More
Milano Design Week 2022
30.06.2022

The 60th Milano Design Week, which took place from 7 - 12 June, and at last, with people in attendance after three years, once again crowns Milan as the

More
Singapore awarded for social design
22.06.2022

Social design is among the most interdisciplinary areas, in response to the major contemporary challenges in continuous transformation. The richness and

More
Circular economy vs. Ghost Gear - An Earth Action in Taiwan
15.06.2022

How many tons of fishing waste/gear enter the ocean each year? Between 500,000 and 1 million tons! These 'Ghost Gears' are 10% of the annual volume of marine

More
Technology + Medical ~ Smart Healthcare in Taiwan (Part 2/2)
31.05.2022

With the rapid development of information and communication technology, the IoT, cloud computing, big data, AI, and even the latest technologies such as block

More
iF AWARD 2022
26.05.2022

The iF Award ceremony was a great success this year, having returned after two years on May 16th at the legendary theater Friedrichstadt-Palast in Berlin

More
Singapore moves towards FIND 2022
24.05.2022

123 days to the start of FIND - the design fair in Asia, which will be held from 22 to 24 September 2022 within the exhibition space Marina Bay Sands in

More
Singapore’s pavilion rewarded at Expo 2020
20.04.2022

A rainforest in the desert: this is the concept of the Singapore pavilion at Expo 2020 in Dubai. "Nature, Nurture, Future" is the title of the project of the

More