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Nokia sees industrial metaverse market opportunities

As a company, Nokia sees itself in a “unique position” to take advantage of developments in the industrial metaverse due to its focus on the development of network systems with the ability to feel, reason, and act beyond simple connectivity. In early February, we reported in the metaverse news that Nokia is using the Metaverse to link off-site breweries and train mechanics for airplanes.

Nokia’s CSTO vision

At a press and analyst presentation here on Sunday, ahead of MWC23, Nokia’s chief strategy and technology officer (CSTO) Nishant Batra (pictured above) detailed the company’s vision for the next seven years leading up to 2030 and the period of the immersive metaverse.

Batra predicted that the next era of digitalization would usher in digitally augmented worlds, solutions to a wide range of problems, and, most importantly, new financial opportunities for companies like his own.

According to him, Nokia is in an excellent position to increase its footprint in other areas, such as edge computing, and prove that it is more than “just an infrastructure company,” but rather, “the platform for change,” for a wide variety of businesses.

Batra describes the industrial metaverse as a place where “physical industries get digitalized through immersion,” and it includes three distinct domains: The consumer domain, with offerings for social interactions, entertainment, and gaming; the enterprise domain, which is set to bring immersive collaboration, remote working, extended reality (XR) training and digital co-design.”

Despite this, Nokia’s CSTO has expressed “particular excitement” about the industrial metaverse, which is expanding “much quicker” than the consumer sector, as measured by data from ABI Research.

Nokia’s research indicates that smartphone video streams and files presently account for the majority of business data traffic; however, “we estimate that after 2027, the network traffic will be dominated by XR – and that’s the network we will need to build,” said Batra.

Future Network

Networks of the future “don’t merely link,” as Batra put it, and this is what Nokia envisions to fulfill the evolving demands of its clients, especially in the industrial sector. “What I believe is that networks will be equally used for sensing and that will then create a need for thinking and acting. So our belief is that the networks of the future will sense, think and act.”

The vendor must also build networks that are not only highly functional but also “equally consumable” and open to innovation so that their full potential can be realized by software engineers. To fully realize the benefits of 6G, “This allows every other industry to consume these networks to potentially transform themselves” he continued.

When designing for the immersive metaverse of the future, we have to think on a far higher level of sophistication than the internet as we know it now. In addition to its importance in everyday life, trust and identity will be crucial in ensuring that organizations can achieve the three most important criteria: productivity, efficiency, and safety.

Batra emphasized that now is the moment for “those organizations, enterprises, and industries to begin conceptualizing their metaverse-driven goals,” and he added that Nokia is eager to join such clients on their path to digital transformation.

The Chief Strategy and Technology Officer for Nokia has stated that a “real-time digital twin” will be part of the future network and will be useful in settings like power plants where human intervention is unnecessary because problems will be fixed automatically. According to Batra, engineers working on gas turbines, for example, will be able to rely on a digital twin for such insights as to eliminate the need to test physical parts to evaluate power efficiency.

In the future, networks will need to pinpoint the origin of a connection to within a centimeter, down from the current several meters. It not only generates new ideas but also great opportunities for businesses.  “That creates a lot of innovation, but also a lot of good business opportunities. This is where the industry truly uses the value of future networks” he said.

Of course, if only one company is engaged, none of this will be feasible. Nokia will need to work with others. Batra has stated, “It is going to be an extremely important characteristic of successful metaverse companies to be able to collaborate,” adding that the company is already cooperating at the developer level and urging other partners to do the same.

Nokia’s CEO Pekka Lundmark has said that “the qualities of traditional networking need to integrate the flexibility and scalability of the cloud. When networks meet the cloud, this will unleash the full promise of the industrial, enterprise, and consumer metaverses,” he said.

Nokia’s network vision was released alongside a new enterprise-focused business strategy and a logo redesign that aims to distance the company from its consumer phone roots (for more on this, see Nokia suggests larger corporate drive with brand refresh).

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About MahKa

Nokia sees industrial metaverse market opportunitiesMahKa loves exploring the decentralized world. She writes about NFTs, the metaverse, Web3 and similar topics.

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