Social and entertainment to follow as more join the community
SYDNEY, AUSTRALIA –More than 9 million Australians are interested in the metaverse for work and entertainment applications, according to new research by emerging technology analyst firm Telsyte.
The Telsyte Australian Digital Consumer Study 2022 found while it is still early days for the “metaverse” with only 21 per cent aware of the concept, there are immediate opportunities for businesses to explore metaverses if it can demonstrate improved productivity, collaboration, and facilitate hybrid workplaces.
The study found 1 in 3 workers indicated they are willing to start using the metaverse if it is a workplace requirement, with 24 per cent of those who regularly work from home believing it is the future of work.
Despite more than half having a preference for decentralised community-driven metaverses, those developed by private companies are more likely to provide the support, security and compliance required by workplace collaboration applications.
According to the research, more than 1 in 3 are interested in metaverses from Google, Microsoft, Samsung and Apple. Facebook ranked fifth at 27 per cent.
More metaverse-ready hardware on the way
The metaverse is a virtual interactive space that enables new forms of interactions beyond the current voice and video formats.
Telsyte’s study found there is an emerging market for devices that will enable people to participate in the metaverse. More than half prefer exploring virtual spaces with compatible headsets, rather through displays on personal devices.
More than 1 in 4 (27%) people are interested in buying a metaverse-compatible headset, which is higher than 2017 (a peak year for VR), when around 20 per cent were interested in purchasing a VR headset.
Despite continued technical improvements, the weight and comfort of the metaverse headsets are still seen as important for 60 per cent of Australians.
“Lighter and easier to use headsets are needed before widespread adoption of the metaverse occurs,” Telsyte Managing Director, Foad Fadaghi says.
Metaverse not without health concerns
A metaverse opens a new virtual world of work and entertainment but Australians are concerned about any negative health effects it might bring.
Telsyte’s study found most (54%) people fear the metaverse might have negative health, development, mental consequences for those under 18. Furthermore, people preferring to interact in real life (44%) and not being familiar with the concept (35%) are some of the main inhibitors.
Social and entertainment to follow
The community is primed for the introduction of more immersive video content as video consumption reached new highs in 2021. Australians spent around a third of their awake hours consuming some form of video content, including in the background while performing other tasks.
The study also found those interested in the metaverse believe it is fun (45%), and the future of entertainment (34%) and social (23%).
Telsyte believes the social and community aspects of metaverse will be critical as 38 per cent of Australians say they will be encouraged to try if their family or friends are using it.
Most consumers interested in the metaverse are willing to spend on virtual items, on average willing to part with $273 annually.
Telsyte Australian Digital Consumer Study 2022 shows early adopters are ready for a more virtual lifestyle with interest shown in virtual live events, alongside virtual properties and artwork in the metaverse.
For further information on the study or media enquiries contact:
Foad Fadaghi
Managing Director
Tel: 1800 313 142
Email: ffadaghi@telsyte.com.au
Alvin Lee
Senior Analyst
Tel: 1800 313 142
Email: alee@telsyte.com.au
The Telsyte Australian Digital Consumer Study 2022 is a 193-page comprehensive study that provides subscribers with analyst content and services covering:
Key technology, services and lifestyle trends since the pandemic
Adoption and 4-year forecast of personal technologies (e.g. smartphones, smartwatches, tablets, 2-in-1s, computers, metaverse headsets, etc)
Adoption and 4-year forecast of household technologies (e.g., smart speakers, smart TVs, gaming consoles, Chromecast, Fire TV Stick, Apple TV and other set-top boxes, etc)
Post-PC device preferences and intentions
Wearable technology preferences and intentions
Metaverse awareness, intentions and preferences
NBN, 5G and broadband
Mobile services
Digital video, Pay TV, Streaming video, television (including broadcast video on demand)
Social media
Technology, social and online apps adoption amongst children under 18s
Digital services and gig economy
Banking and eCommerce trends
Interactive games and cloud gaming
Consumer cloud and online security
AI & automation
Attitudes to lifestyle and technology
In preparing this study, Telsyte used:
Telsyte’s annual Digital Consumer survey conducted during December 2021 and 1st week of January 2022 with a representative sample of 1,114 respondents, 16 years and older.
Interviews conducted with executives from service providers, network operators, manufacturers, retailers, financial analysts and channel partners.
Financial reports released by service providers, manufacturers and retailers.
On-going monitoring of local and global market and vendor trends.
About Telsyte
Telsyte is Australia’s leading emerging technology analyst firm. Telsyte analysts deliver market research, insights and advisory into enterprise and consumer technologies. Telsyte is an independent business unit of DXC.technology. For more information visit www.telsyte.com.au
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