A new report from Globaldata, a big company that studies data, explains that China will be a big leader in using metaverse technology by the year 2023. This is possible due to developments in AI, VR, AR and 6G which could turn China into an important location for metaverse tech.
China Investing in the Metaverse and 6G Technology For Future Global Dominance
China is still interested in the world of metaverse technology, even though it’s not seen as important across the globe. According to a report from a consulting firm called Globaldata, China plans to be better than other countries when it comes to this type of tech in the future. They plan to do this by keeping investing in related technology.
The report says that China is focusing a lot on some important technologies like Virtual Reality, Augmented Reality, Artificial Intelligence, and 6G in order to get ahead of other countries and become the leading center for the “metaverse”.
Experts believe that China will keep putting money into virtual reality and artificial intelligence because these technologies can help the country’s economy to grow. Shanghai and Zhejiang are two Chinese cities that already want to become tech centers for this kind of technology.
China’s Plan for the Metaverse
It is common for people to think of the metaverse as something that only regular people can use, but this report suggests China might be using the metaverse differently. They are likely to have it set up in a way that will help businesses, rather than just people.
The Chinese people in charge of industry and technology recently wrote a report which explains how Virtual Reality and metaverse tech can be used together to make things more efficient. Analysts predict that this kind of technology will be liked more than the other available options because it offers a lot of advantages.
Chinese people are investing a lot of money into technology related to the metaverse, which will make it worth more than activities such as social media, gaming and ecommerce. By 2025, experts think that this technology could be worth around $376 billion. But before then in 2023, there will likely be a slowdown because people are losing interest, it’s too expensive or the tech just isn’t ready yet.
Do you think China will invest more in the “metaverse” than the Western world? Let us know your opinion in the comments section!