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)