Nokia is gearing up to lead the charge in technological advancements, with a keen eye on the evolving landscape of the metaverse, Web3, and AI. The company’s Technology Strategy 2030 report sets the stage for an unprecedented growth in network demand by 2030, fueled by the exponential rise of these transformative technologies.
A pivotal aspect of Nokia’s forward-thinking strategy is its significant investment in network technologies crucial for navigating the expanding horizons of the metaverse and beyond. The company foresees a substantial 22%-25% increase in network demand from 2022 to 2030, driven primarily by the widespread adoption of generative AI and virtual reality devices.
In line with its commitment to innovation, Nokia is actively exploring opportunities within the metaverse, with a particular focus on human augmentation, spatial computing, and split processing. The company has established dedicated labs to delve into the foundational technologies of the metaverse, signaling its aspirations to stay at the forefront of this emerging digital realm.
Nokia’s engagement with the metaverse extends beyond conceptual frameworks to practical applications, such as the use of a 5G-connected Microsoft HoloLens for remote aircraft maintenance instructions. This real-world demonstration showcases the potential of augmented reality in supporting technicians working in remote locations, highlighting the tangible benefits of immersive technologies.
Looking ahead to 2030, Nokia’s Technology Strategy 2030 report identifies key trends such as AI, cloud computing, the Internet of Value, Industry 5.0, and API networks as instrumental in shaping the future of connectivity. The proliferation of connected devices is expected to drive widespread adoption of the metaverse across consumer, enterprise, and industrial sectors, ushering in a new era of digital transformation.
One area of significant growth within the metaverse landscape is the industrial sector, with sales projected to reach US$ 61.8 billion in 2022. Forecasts indicate a robust compound annual growth rate (CAGR) of 25.3% from 2023 to 2033, underscoring the increasing integration of metaverse technologies in industries like car manufacturing. This shift is poised to ignite innovation and drive the Industrial Metaverse Market to unprecedented heights, reaching a staggering US$ 765.8 billion by 2033.
Nokia’s strategic foresight and unwavering commitment to technological innovation position the company as a trailblazer in shaping the future of connectivity and digital transformation. By embracing emerging technologies and investing in cutting-edge network infrastructure, Nokia is poised to lead the charge into a new era of possibilities and opportunities.