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Metaverse is the next wave of High Tech innovation


November 29, 2022

In brief

  • The metaverse, while still nascent, represents a massive opportunity for all types of companies—especially, those in the High-Tech industry.
  • To maximize their opportunities, High Tech companies should look beyond their core business of providing chips that power metaverse-related hardware.
  • High Tech companies should consider where else they can play in the metaverse value chain, including platform building and experience creation.

We’re hearing a lot about the metaverse these days, as new technologies increasingly allow the concept to scale. The metaverse is a continuum.

What is the Metaverse in High Tech?

The metaverse is an ever-evolving virtual, three-dimensional world that is created and experienced through a combination of advanced technologies, content and imagination. High Tech companies are leveraging the metaverse to create immersive, collaborative experiences that engage stakeholders and build digital communities. It is also being used to create virtual marketplaces and digital twins that are revolutionizing the way High Tech companies do business and operate. The metaverse is becoming an increasingly powerful tool in the High Tech industry, enabling effective collaboration and innovation across the value chain. For High Tech companies, the fast-emerging metaverse means significant business opportunities. After all, High Tech makes the hardware that power the technologies that make the metaverse possible.

But while the projected market for metaverse-related hardware is substantial, High Tech companies should look beyond their core business. There are billions of dollars in untapped market potential up for grabs in building the platform and designing the experiences that support the metaverse. High Tech companies should target these markets for new growth opportunities.

Hardware is a key enabler of immersive metaverse experiences

Hardware is a key enabler of immersive metaverse experiences for the chart.
Hardware is a key enabler of immersive metaverse experiences for the chart.

Doing so will require High Tech to explore new roles in the value chain. They need to look for ways to invest in new capabilities, or use existing ones in different ways, to expand beyond their core hardware business to potentially more-lucrative segments of the metaverse.

Eighty-six percent of High Tech executives state that the metaverse will have a positive impact on their organizations.

To identify new points of entry along the value chain, High Tech companies need to start by answering three key questions:

  1. Where in the value chain are the greatest revenue and ROI opportunities?

  2. How close are these opportunities to the core business?

  3. What impact, if any, would these investments have on the company’s brand and core business?

The metaverse is poised to become the next big wave of technology innovation. And, like previous waves, High Tech companies are uniquely qualified to help drive and benefit from it. They just need to think more creatively about how to do it.

The Metaverse: High Tech’s new gold rush: The time is now for High Tech companies to explore new ways to expand beyond their core hardware business to the potentially more.

Frequently asked questions

Exploring diversification into metaverse segments like platform development and experiences.

Encouraging adaptation and investment in capabilities for more lucrative metaverse segments.

Emphasizing strategic planning for financial implications, alignment with core business, and potential effects on brand perception.


Victor Orler

Senior Manager – Accenture Strategy, High Tech

Stephen Hardin

Senior Manager – Accenture Strategy, High Tech

Brendan Hayes

Manager – Accenture Tech Innovation Strategy