US Manufacturing Embraces the Industrial Metaverse, Says WEF

1. Majority of U.S. manufacturing execs exploring industrial metaverse integration for enhanced efficiency.
2. Pandemic challenges drive interest in metaverse solutions for production optimization.
3. Digital twin tech used for tasks like warehouse design, offering potential across production stages.

The World Economic Forum (WEF) reports a notable trend among manufacturing firms in the United States. A growing number turning their attention to the industrial metaverse as a solution to complex production challenges.

According to the WEF, industries such as automotive, energy, software, aerospace, and defense are spearheading investment in this emerging technology.

Exploring Metaverse Integration

In a recent report published on March 12, the WEF reveals that 92% of U.S. manufacturing executives are actively exploring ways to incorporate the metaverse into their operations.

Surveying executives from 100 of the largest companies across 10 industries, the report indicates that each executive is investigating multiple use cases, averaging up to six per company.

One driving force behind this surge in interest is the need for the industrial sector to adapt and innovate in response to the challenges brought about by the COVID-19 pandemic. In fact, manufacturing companies are seeking ways to enhance production cycles, improve efficiency, and bolster predictive forecasting.

“Amid recovery from the COVID-19 pandemic, a series of technological, macroeconomic, societal and business-to-business (B2B) customer trends are accelerating and converging to create new challenges and opportunities for growth in the industrial sector.”

WEF

The report highlights the utilization of digital twin technology, with companies like Amazon and Mercedes-Benz leveraging virtual models for warehouse design and manufacturing assembly facilities.

Nokia, a telecoms infrastructure firm, is leveraging the metaverse in Australia to potentially aid Cessna aircraft technicians at remote airports. Moreover, the industrial metaverse has versatile applications throughout the product life cycle, spanning pre-production, production, and post-production stages.

“Although real-life applications of the consumer metaverse are still developing, the industrial metaverse is ahead on the adoption curve, aligned with actual problems and business imperatives and driven by on-the-ground implementation.”

This includes tasks such as product and service design, process simulations, plant design and management, as well as product testing and quality assurance.

Industrial Metaverse Potential

The industrial metaverse offers a wide range of applications across the product life cycle, including pre-production, production, and post-production stages.

Tasks such as product and service design, process simulations, plant design and management, and product testing and quality assurance can all benefit from this integration.

While the industrial metaverse presents opportunities for efficiency and innovation, concerns have been raised about its potential negative impacts. Additionally, the rise of generative artificial intelligence (AI) has led some companies to hesitate in their investments in the metaverse. Nevertheless, the industrial sector remains at the forefront of its adoption, driven by practical applications and on-the-ground implementation.