The Metaverse combines physical reality and virtual worlds in a multi-purpose environment and is based on the convergence of augmented and virtual reality technologies that enable multimodal interactions with digital objects, virtual environments, and people. The Metaverse, therefore, combines technologies such as AI, AR, and VR to allow users to enter the virtual world in an immersive and interactive way. For example, virtual objects can be incorporated into the real environment using augmented reality technology, and virtual reality helps users to immerse themselves in a 3D virtual environment or in 3D reconstructions using 3D computer modelling.
In this regard, all tech companies are focusing on Extended Reality, which includes both fully immersive virtual reality (VR) and augmented reality (AR), in which computer images are superimposed on users' natural vision.
IDC estimates that some 16 million augmented reality devices will be shipped this year, but within a decade, sales could even reach those of smartphones.
Microsoft CEO Satya Nadella claims that augmented reality will be one of the three technologies that will shape the future, along with artificial intelligence and quantum computing. Sundar Pichai, CEO at Alphabet (Google's parent company) said that AR could be a big area of investment for the company. Venture capital funds have earmarked almost EUR 2 billion for augmented reality in the last quarter of 2021.