How do the five major consulting companies view Metaverse?

Related concepts such as Metaverse are very hot recently. Many large companies have deployed related industries, whether it is infrastructure, display equipment, software, etc. Previously, Blockchain 01 compiled the views and opinions of investment banks on Metaverse. On the whole, we are optimistic about the future development of Metaverse. So what ideas will the consulting company hold?

PricewaterhouseCoopers: Metaverse keeps IP alive

PricewaterhouseCoopers (PwC) is one of the four largest international accounting firms, and the other three are KPMG, Deloitte and Ernst & Young. According to data from PwC, PwC’s global revenue in fiscal year 2020 will be US$43 billion.

Recently, PricewaterhouseCoopers released the report “Global Entertainment and Media Industry Outlook: 2021-2025 Essentials”, which collects entertainment and media data in the past year, summarizes it, and puts forward new views and insights. Among them, the views on how Metaverse will affect the entertainment and media industries are presented.

Today’s entertainment industry is mainly building its own film and television universe. With the rapid rise of Marvel, it has attracted widespread attention from the entertainment industry, hoping to replicate one more Marvel and create its own film and television universe. For example, Warner Bros., an old rival of Disney, is expanding the prequel “Dragon Race” of “Game of Thrones”, hoping to build the right to travel the universe.

PricewaterhouseCoopers confirmed that, in the long run, Metaverse will continue to radiate the charm of these IPs and continue to make people fascinated by these IPs. Metaverse is a consumer-oriented, more open, multi-brand environment.The intellectual property rights of the role can be authorized to the online platform. For example, Batman under DC Comics can interact with Disney Marvel’s Captain America. These can satisfy the fans’ desire to not see the interaction between the two characters in other channels (such as comics or movies). In this field, “Fortnite” developer Epic Games is one of the pioneers of this concept. In addition, the sale of music and merchandise on gaming platforms has brought huge business opportunities. Because consumers can easily buy wherever they are, they no longer need to go to the door to buy.

PricewaterhouseCoopers believes that if the needs of consumers can be more conveniently met, the entertainment media industry may get better benefits. People like to arrange their own time and listen to programs easily and conveniently, rather than being limited by the schedule of radio broadcasts or movie screenings.

In addition to making IP more viable, PwC believes that the VR/AR industry will increase the global market by 1.5 trillion US dollars in 2030. PwC believes that the advantages of VR and AR include improved training, reduced risk, and accelerated product design and delivery.

In addition, companies can use VR and AR technologies to accelerate product development by gathering teams from any location in a virtual space. Design teams can easily explore, test, and evaluate different concepts without having to invest in physical prototypes. This may enable companies to bring higher-quality products to market faster.

PwC also cited, for example, that automotive companies are using VR/AR technology to reduce the time between initial design and physical modeling from a few weeks to a few days. Protoss Yonghua believes that VR/AR technology will improve the production or design efficiency of many industries, further improve their profitability and promote social and economic development.

In addition, the global epidemic has caused many industries to be forced to work from home. The VR/AR technology can reduce the threat of people suffering from viruses and reduce the risk of infection.

How do the five major consulting companies view Metaverse?

The VR/AR industry will add 1.5 trillion U.S. dollars to the global market in 2030

Source: PricewaterhouseCoopers official website

KPMG: Privacy and information security will become obstacles to Metaverse

KPMG is one of the four major international accounting firms, mainly providing auditing, taxation, management consulting and legal services. Headquartered in the Netherlands. KPMG will achieve revenue of US$29.22 billion in 2020.

Xie Yunze, a consultant of KPMG, expressed different opinions regarding the recent popularity of Metaverse. He believes that the investment community often amplifies the long-term benefit expectations of new technologies, while ignoring the immediate risks. In fact, no matter from the perspective of investors or technology users, privacy and information security will be the two biggest hidden dangers affecting the development of Metaverse.

Regarding whether the concept and dream of Metaverse can continue, Xie Yunze said that he observed the development of emerging technologies in the past. Creative products that failed to solve the problem of information risk abound, especially wearable devices and home smart devices. typical example.

Xie Yunze believes that for new technology to succeed, it needs to overcome risk barriers. And Metaverse has not yet resolved related issues. For example, to construct a virtual world through AI operations, users need to wear a wearable AR/VR device with many sensors. At the same time, the player’s facial expressions, eye movements, hand movements, speech, and even biometric features and surrounding environment data will be collected. All interactive behaviors in the Metaverse, including data such as movement, purchase, conversation partner, thinking logic, coping attitude, and personalized preference, will also be recorded by the Metaverse. In this way, there will be a safety hazard. Moreover, users and players will also express their personality traits such as values, outlook on life and world outlook in the Metaverse.Compared with the current form of the Internet, if the metaverse has hidden dangers to security, then we will face a very big risk.

The current Metaverse concept is indeed too hot, and capital ignores the risks related to the Metaverse. The Metaverse will not be built right away. In the process of construction, various worries and even policy supervision will become the risks and hidden dangers of Metaverse.

Deloitte: XR will be fully developed due to Metaverse

Deloitte (Deloitte Touche Tohmatsu), along with PricewaterhouseCoopers, Ernst & Young and KPMG, is listed as the four largest international accounting firms. In terms of annual income and number of employees, Deloitte is the world’s largest accounting firm. Deloitte’s 2020 fiscal year shows that its revenue is 47.6 billion U.S. dollars, and it has 312,000 employees.

Deloitte has previously launched the Metaverse series of reports. And the first one is called “Metaverse Series White Paper-The Future Has Come: Insights into the Global XR Industry”. This article mainly focuses on the development trend of XR (Extended Reality) industry.

According to the article, Metaverse is currently in its infancy, and the supporting technical points that need to be implemented include the construction and development of infrastructure and equipment. Among them, extended reality equipment (XR) or AR/VR equipment is the key product at this stage. .

XR refers to the combination of reality and virtuality through a computer. It is a collective term for multiple technologies such as VR (Virtual Reality), AR (Augmented Reality), and MR (Mixed Reality). The article clearly pointed out that in the current market, VR devices account for nearly half of the market; AR accounts for about one-third. The rest of the market is occupied by MR.

With the rapid advancement and change of technology (such as 5G technology, AI technology, and computer vision), technologies and applications such as VR and AR are also showing a trend of integration and interoperability. As a result, concepts such as MR and XR came into being.

In the article, Deloitte divided the development plan of XR into four stages: a period of technological development, a period of capital enthusiasm, a period of low tide and a period of industry recovery. As the next-generation hardware carrier, XR’s development process will be similar to that of smart phones. In addition, with the recent rise of the Metaverse concept, the market is actively developing related technologies. The turning point for XR to enter a period of rapid development will be earlier. For example, many large companies have recently deployed and invested a lot of money to research related equipment.

According to Deloitte’s incomplete statistics: From 2018 to 2020, the global XR financing mergers and acquisitions scale annual compound growth rate of 31%, from 14.2 billion yuan in 2018 to 24.4 billion yuan in 2020; the number of financing mergers and acquisitions will also increase from 2018 Of 109 incidents increased to 166 in 2020.

How do the five major consulting companies view Metaverse?

Source: Deloitte’s official website

In addition, Deloitte also pointed out that the downstream application scenarios of Metaverse are gradually increasing. Its application scenarios are gradually penetrating into all walks of life. These include VR/AR games, film and television, entertainment and education, etc. (mainly for consumers). The applications facing enterprises are mainly industrial manufacturing, medical and retail industries.

Accenture: Build its own Metaverse to train employees

Accenture (Accenture; NYSE: ACN) is a multinational company specializing in management consulting, information technology and business process outsourcing. It is the world’s largest management consulting company and one of the Fortune Global 500 companies. Its clients include more than 80% of the Fortune Global 500 multinational companies and governments. In 2020, Accenture’s global operating income reached 44.3 billion U.S. dollars.

In an interview with Fortune magazine on November 24, 2021, Accenture CEO Julie Sweet revealed that Accenture has purchased 60,000 virtual reality Oculus VR headsets, which will be used for employee training.

After the news came to light, Nick Rosa, the head of Accenture’s European XR and head of immersive learning, added more information on Twitter. According to his Twitter, the number of VR devices deployed by Accenture is the largest among all companies in the world. In addition, the Oculus headset ordered by Accenture is the latest and highest version of the product.

How do the five major consulting companies view Metaverse?

Nick Rosa’s Twitter

According to Nick Rosa, in this Accenture virtual space reconstructed using AR and VR, users and employees can access and visit through various devices.

Accenture said that under the influence of the epidemic, the company expects that working from home will be a long-term state. Therefore, this initiative is mainly to take care of newcomers and use a more interesting way to help newcomers who work remotely understand Accenture quickly. In addition, the Accenture virtual space can also create various scenes and cooperate with skill training to exercise their soft skills.

According to Accenture’s introduction, when employees enter the virtual space, they can choose several scenarios for the meeting to reduce the boring degree of the meeting. In addition, employees can also edit PPT in the virtual space.Accenture even moved the 2020 Christmas party into a virtual space, and the entire room was decorated with a Christmas theme.

How do the five major consulting companies view Metaverse?

Accenture’s Christmas Virtual Space

Source: Accenture official website

Accenture can be said to be at the forefront of all companies in terms of technology adoption.

Bain & Company: Cloud computing will benefit from Metaverse

Bain & Company is a global management consulting company headquartered in Boston, USA. Bain Consulting, Boston Consulting Group and McKinsey & Company are collectively known as the three major management consulting companies. In 2019, its revenue was US$4.5 billion and its total number of employees was 10,500.

Zhu Yonglei, a global partner of Bain & Company, mentioned that behind Metaverse may still be cloud computing. He further stated that leading cloud service providers such as Ali and Tencent all have the first-mover advantage of Metaverse. In addition, Cheng Xin, a global partner of Bain & Company, said in an interview with “Daily Business News” that cloud computing will have further evolution in the future.

On November 28, 2021, Bain released the “2021 China High-Tech Industry Report”. Nowadays, cloud technology and artificial intelligence are popular high-tech investment tracks. In the past 10 years, the total amount in these two fields is 1/3 of the entire high-tech industry. The report also explained that cloud computing has become a driving force for the growth of the market value of the technology industry.

The construction of the Metaverse requires a lot of computing power. The rise of the Metaverse concept will continue to drive the development of cloud computing. In addition, Zhu Yonglei believes that the Internet will develop from the 2.0 era to the 3.0 era, that is, the Metaverse transformation.

Due to the skyrocketing of Crypto in 2021 and the popularity of the NFT concept, related innovative companies have begun to emerge, attracting the attention of the world and more and more people are opening up such fields. The change of Facebook’s name to Meta can be said to be a blockbuster of the atomic bomb level, which will stimulate the Internet industry to transform into the Metaverse more quickly.

But Zhu Yonglei believes that Metaverse still has more concepts than applications. And the actual application and value behind various Cryptos are still in the process of exploration. In addition, there is no consensus on whether Metaverse must be built on a decentralized blockchain architecture. There are only initial assumptions, but the most important thing is that the Metaverse is still based on cloud computing architecture. He believes that regardless of whether the Metaverse will be decentralized, a huge and basic infrastructure is needed.

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