Tag: Metaverse

Is the Metaverse Dead? Here’s What Happened and What’s Next | In the News

Recently, the buzz about the metaverse, or at least about the term, has died down. There are numerous causes, including Meta’s slow progress, a crash in the non-fungible token (NFT) market, and more.

Parul Trivedi, Practice Director at Everest Group, said that the vision of a fully immersive, universally adopted virtual realm where users interact seamlessly in virtual and augmented realities faces real-world challenges.

Read more in Tech Target.

NASSCOM Technology and Leadership Forum 2023


NASSCOM Technology and Leadership Forum 2023: Winning on CX with a Whole New World of Technology

Monday, Feb 27, 2023 | 12:25pm - 12:55pm

Everest Group CEO, Peter Bendor-Samuel, will speak virtually at the NASSCOM Technology and Leadership Forum 2023 at Grand Hyatt, Mumbai, India, on February 27, in his session titled, Winning on CX with a Whole New World of Technology. 

Register to attend the session

The evolving technology landscape is reshaping industries, ushering in a new era of customer experience (CX). Watch Peter’s session live at the event to learn how the convergence of technologies is creating a new world for customers, keeping human centricity at its core. The speakers will also discuss new technologies that drive a people + tech convergence, such as the metaverse, and explore how businesses can find opportunities to create value in these emerging technologies. 

Attendees can also catch Everest Group colleagues Chirajeet SenguptaRajesh RanjanYugal JoshiRonak DoshiAkshat Vaid, Aveen Shetty, Ashish Sehdev, and Rita Soni at the event.

Grand Hyatt, Mumbai

Register to attend the session

Peter Bendor-Samuel
Riya Munjal 1
Kumar Santhosh
Aniruddha edited

What to Expect from the Metaverse in 2023: Moving Beyond Hype | Webinar

On-Demand Webinar

What to Expect from the Metaverse in 2023: Moving Beyond Hype

The metaverse is still taking shape and shows the potential to significantly impact the interaction between physical and virtual worlds and business models. But when should businesses start investing, and what opportunities and value should business leaders look for?

Our experts explore emerging technology themes, challenges, and opportunities in the evolving metaverse space, as well as what business leaders should be considering today.

What questions will the webinar answer for the participants?

  • What is the market maturity and adoption readiness of key emerging technology themes enabling the metaverse?
  • How is consumer and business behavior evolving around the metaverse?
  • What are the investment levers in the metaverse, and what forces are driving them?
  • What should business leaders do to capture value in the metaverse?

Who should attend?

  • CTOs, CDOs, CHROs, CXOs
  • Digital engineering leaders
  • Cloud and edge leaders
  • Heads of sourcing
  • Vendor managers
  • Mixed reality leaders
  • Extended reality leaders
  • Metaverse architects
Mittal Alisha Refresh gray square
Vice President
Pattathil Sandeep
Senior Analyst
Practice Director

Digital Doppelgängers and Evil Twins: How Brands Can Guard against Identity Theft and Fraud in the Metaverse | In the News

Humans have a one-in-a-trillion chance of having a doppelgänger in the world—that is, someone who looks exactly like them down to their eyes, lips, and bone structure. But in an avatar-driven digital environment like the metaverse, another individual running around with your (digital) face is much more probable.

As reported by Everest Group in their “Taming the Hydra: Trust and Safety in the Metaverse” report, 55% of respondents in the US were concerned about the tracking and misuse of their personal data in the metaverse.

Read more in Fast Company.

Growth of Metaverse Increases Trust and Safety (T&S) Risks to Enterprises, Users | Press Release

Mitigating threats to user security, increased abuse, proliferation of objectionable content and financial fraud represents big opportunity for third-party T&S services market in the coming years.


DALLAS, September 08, 2022 — As enterprises apply their best creative and strategic thinking to how to take advantage of the metaverse, they should also address the heightened risks the metaverse will pose to employees, customers and corporate assets, according to Everest Group.

“The metaverse is attracting large investments from technology giants such as Google, Meta, Microsoft and Nvidia to make the virtual world a reality, and the applications hold unlimited economic and social potential for both good and bad,” said Rajesh Ranjan, partner at Everest Group. “As organizations develop their business strategies for the metaverse, trust and safety issues need to be among their foremost considerations. Enterprises may be able to adapt some best practices of today, but they will also need to address scenarios and use cases that are unique to the metaverse. Solving for those novel challenges will require a collaborative approach among enterprises, policymakers, academia, and T&S service providers to realize the full potential of metaverse as an immersive yet safe place for users.”

While the metaverse—an interconnection of virtual worlds providing immersive social experiences—is still at a nascent stage, it is expected to grow exponentially in the coming years, opening new possibilities for enterprises, including trade in digital assets such as cryptocurrencies and non-fungible tokens (NFTs), immersive marketing, enhanced customer experience, improved employee training, and live virtual events. However, as the metaverse expands, enterprises will have to deal with new trust and safety (T&S) challenges, such as the abuse of virtual avatars and the safety of virtual assets. Organizations will need to come up with risk mitigation policies to make the metaverse a safe space for users.

Everest Group has shared its research and recommendations in “Taming the Hydra: Trust & Safety in the Metaverse.” In this study, Everest Group explores the potential trust and safety challenges that enterprises face in the metaverse and recommend metaverse risk mitigation strategies to help tackle them. The report also explores the impact of the metaverse on the third-party T&S market.


Everest Group offers metaverse risk mitigation strategies for T&S risks, including:

  • Abuse of virtual avatars, including invasion of personal space, impersonation, harassment, assault, bullying, stalking and spying.
  • Concerns around data privacy and user safety, including personal and sensitive information such as user habits and physiological characteristics.
  • Safety of virtual assets from financial crimes and identity theft.
  • Well-being of content moderators who may face physical and mental health hazards from prolonged exposure to VR headsets and content.
  • Regulatory ambiguity, especially policy gaps with respect to the definition of ownership, data privacy and user interactions.


Implications for the Third-Party T&S Services Market

Enterprises are increasingly outsourcing T&S services to match exponential growth in user content, and as the metaverse expands, the T&S services market will surge as well. Currently, T&S services is among the fastest-growing segment of the Business Process Services market, expected to reach US$15-20 billion by 2024. The market is expected to grow 35-38% through 2024 and accelerate to 60-68% growth beyond 2024 as technology and infrastructure advances beyond the nascent stage.

In this dynamic market, T&S service providers have the opportunity to leverage their expertise to proactively help enterprises develop risk mitigation strategies. The growth potential of the metaverse T&S market will attract new service providers, spur specialization, and give rise to ecosystem partnerships to address the complexity of policy advisory, technological expertise, process acumen, and localization of services that the evolving metaverse will demand.


About Everest Group
Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our research also covers the technologies that power those processes and functions and the related talent trends and strategies. Our clients include leading global companies, service and technology providers, and investors. Clients use our services to guide their journeys to maximize operational and financial performance, transform experiences, and realize high-impact business outcomes. Details and in-depth content are available at www.everestgrp.com.

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

"*" indicates required fields

Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.