The emergent industrial metaverse

Siemens and MIT Technology Review have collaborated on a report exploring the development and opportunities of the Industrial Metaverse, a digital world that mirrors and simulates real machines, factories, buildings, and entire cities and transportation systems. The report states that the Industrial Metaverse market is estimated to reach $100 billion by 2030, representing a tenfold increase compared to 2021. The market potential will result from the evolution and convergence of technologies such as artificial intelligence, blockchain, and cloud and edge computing, with a key building block being the digital twin.