Global metaverse market likely to reach $996 bn in 2030 with 39% CAGR

Global metaverse market likely to reach 6 bn in 2030 with 39% CAGR

Global metaverse market likely to reach $996 bn in 2030 with 39% CAGR

by Hansraj Agrawal | Oct 9, 2022 | Technology

The global metaverse market is expected to reach $996 billion in 2030, registering a compound annual growth rate (CAGR) of 39.8 per cent.

The metaverse market size reached a value of $22.79 billion in 2021, according to GlobalData, a leading data and analytics company.

Companies across the globe, including those in non-tech sectors, are now increasingly investing in the technology for better engagement with customers, brand awareness expansion, and identification of new revenue streams.

“As of 2021, the media and entertainment market captured a sizable revenue share of the metaverse market. The entertainment experience we have seen through the metaverse has been through music and concerts,” said Deepak Agarwal, Project Manager at GlobalData.

“In the non-blockchain world, Travis Scott in Fortnite had put on an enormous concert which showed $20 billion, including merchandise, versus the 1.7 billion from the regular show,” Agrawal added.

Various players in the technology sector, including those manufacturing semiconductors, components, and application software, are also leveraging metaverse.

Asia-Pacific and North America together held 50 per cent metaverse market share in 2021.

“The strong presence of big technology giants in the advanced economies of North America and the emerging economies in the Asia-Pacific region are fuelling the metaverse market growth,” said the report.

Companies in these regions are focusing on Blockchain, machine learning, AR and VR, adtech, payment platforms, enterprise applications, gaming, data governance and others.

“The metaverse is still largely conceptual but could transform how people work, shop, communicate, and consume content. Although it is in the early stages of development, it has the potential to be the next mega-theme in digital media,” said Agarwal.

Furthermore, the large-scale adoption of next-gen technologies. including AR and VR will accentuate the adoption of metaverse by most of the stakeholders involved, the report mentioned.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Apple’s own 5G modem not to arrive in new iPhones till 2025: Report

by Hansraj Agrawal | Oct 9, 2022 | Technology

Apple is likely to build its own 5G modem for new iPhones but reports suggest that chip-maker Qualcomm is still going to provide its modem for upcoming iPhones at least till 2025.

A note to investors by Haitong International Securities analyst Jeff Pu has said that Qualcomm Snapdragon X75 modem will be used in the 2024 iPhones.

Meanwhile, all four iPhone 15 models next year are expected to be equipped with Qualcomm’s latest Snapdragon X70 modem.

The 5G modem will be made by TSMC using a 4nm process to introduce power efficiencies, reports MacRumors.

The iPhone 15 using X70 modem could provide download speeds of up to 10Gbps, improved coverage, better signal quality and up to 60 per cent improved power efficiency.

However, the prospect of an iPhone using an Apple-designed modem has potentially been pushed back to 2025, the report suggested.

Famed Apple analyst Ming-Chi Kuo has also predicted that iPhone 15 could continue to use Qualcomm modems.

According to Kuo, due to the high demand for the 6.7-inch iPhone 14 Pro Max, the tech giant may decide to further differentiate its next iPhone 15 Pro and Pro Max models.

Kuo had also suggested that “Ultra” will exclusively have a periscope lens (6x or 5x). Also, the Ultra will come with an improved battery life.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Google to shut entire Assistant Driving Mode Dashboard launched in 2019

by Hansraj Agrawal | Oct 8, 2022 | Technology

Tech giant Google has announced to shut down the Assistant Driving Mode Dashboard that was announced at its developer conference I/O in 2019.

Google will shut down the entire Assistant Driving Mode Dashboard on November 21, reports 9To5Google.

Driving Mode, another name for the car-optimised experience in Google Maps for Android, will continue to exist, the report said.

Shortcuts for calling and messaging are included on the homescreen, along with audio controls and media choices.

Shortcuts can be accessed, after starting the driving navigation. It has a black bar with Assistant access and a grid of app icons for YouTube Music, Google Podcasts, and other compatible streaming services.

“Voice shortcuts also available for phoning and texting. Compared to the Driving Mode Dashboard, it is significantly more straightforward,” said the report.

Google now no longer has a direct successor to Android Auto for Phone Screens with this change, the report added.

Google in 2019 announced to roll out a voice-enabled driving mode on Assistant that would not only personalise suggestions for navigation, messages, calling and media, but also bring all relevant activities front and centre.

Driving mode would launch on Assistant once the user connects their phone to the car’s Bluetooth.

If the user’s phone is not connected to the car, they could just say, “Hey Google, let’s drive”.

In addition to driving mode, Google also announced to make it possible to use Assistant to remotely control cars — like users could ask Google to adjust the car’s temperature before the driver gets in.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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WhatsApp’s cloned app spying on Indians via recording video, audio

by Hansraj Agrawal | Oct 8, 2022 | Technology

India is among the countries with highest number of Android trojan detections and a cloned, third-party unofficial version of WhatsApp is leading in spying on people’s chats in the country, a new report has warned.

Behind a large portion of Android spyware detection in the past four months was ‘GB WhatsApp’ — a popular but cloned third-party version of WhatsApp, according to the report by cyber-security firm ESET.

Such malicious apps have a wide range of spying capabilities, including recording audio and video.

“The cloned app is not available on Google Play and, therefore, there are no security checks in place compared with the legitimate WhatsApp, and versions available on various download websites are riddled with malware,” said the report.

India (35 per cent) was also ranked second after China (53 per cent) as the geolocation for bots making up the largest internet of things (IoT) botnet called ‘Mozi’ from May to August 2022.

The IoT botnet ‘Mozi’ saw the number of bots drop by 23 per cdnt from 500,000 compromised devices to 383,000 in May-August.

However, China and India continued to have the highest number of IoT bots geolocated inside the respective countries.

“These statistics confirm the assumption that the ‘Mozi’ botnet is on autopilot, running without human supervision since its reputed author was arrested in 2021,” said the report.

Even with declining numbers, Russian IP addresses continued to be responsible for the largest portion of remote desktop protocol (RDP) attacks.

“Russia was also the country that was most targeted by ransomware, with some of the attacks being politically or ideologically motivated by the war,” said Roman Kovac, Chief Research Officer at ESET.

The report also examined threats mostly impacting home users.

“In terms of threats directly affecting virtual and physical currencies, a web skimmer known as Magecart remains the leading threat going after online shoppers’ credit card details,” said Kovac.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Meta allows users to report bugs in social metaverse app Horizon Worlds

by Hansraj Agrawal | Oct 8, 2022 | Technology

Meta has allowed the users of its social metaverse app Horizon Worlds to report bugs on the platform with ease.

Currently, it is too hard to report bugs out of the headset as users need to attach screenshots or videos to their bug reports.

“We’re rolling out a way to simply press and hold down the A, B, X, and Y buttons for five seconds and a new in-app bug reporting experience will pop up,” Meta said in a blog post.

The Horizon Worlds users can now use buttons on their controllers to bring up the “report a problem” window.

The company has issued 14 bug fixes ranging from improvements to lighting and sound, ‘grabbables’ and the updated camera feature.

Horizon Worlds is a social VR experience where you can discover new places with friends, build unique worlds of your own, and form teams to compete in action-packed games.

The Horizon Worlds social metaverse platform is currently available only on the company’s Quest VR headsets.

According to a report in The Verge citing internal memos, Vishal Shah, Meta’s VP of Metaverse, told employees that Horizon Worlds is inundated with several quality issues and even those building the virtual reality (VR) social network at the company are barely using it.

“Simply put, for an experience to become delightful and retentive, it must first be usable and well crafted,” he wrote.

Zuckerberg said recently that major updates to Horizon and avatar graphics are coming soon.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Telegram founder warns users to stay away from WhatsApp yet again

by Hansraj Agrawal | Oct 7, 2022 | Technology

Messaging app Telegram’s founder Pavel Durov launched a scathing attack on WhatsApp, calling the Meta-owned platform a “surveillance tool”.

In a message on Thursday, Durov urged the users to stay away from WhatsApp and highlighted a security issue disclosed by the latter in September. He said that WhatsApp has been risking user data and claimed that the company had kept the user’s data under surveillance for the past 13 years.

“Hackers could have full access to everything on the phones of WhatsApp users.” Moreover, he stated that WhatsApp’s security issues are intentionally planned.

“Every year we learn about some issue in WhatsApp that puts everything on their users’ devices at risk… It doesn’t matter if you are the richest person on Earth – if you have WhatsApp installed on your phone, all your data from every app on your device is accessible,” he added.

Last year, Durov said that the new WhatsApp terms ask users to feed all their private data to Facebook. He said he is not pushing people to switch to Telegram this time.

“With over 700 million active users and more than 2 million daily signups, Telegram doesn’t need additional promotion. You can use any messaging app you like, but stay away from WhatsApp — it has now been a surveillance tool for 13 years,” he claimed.

In 2020, Durov alleged that WhatsApp’s systems were not as secure as they made out to be.

In a blog post titled ‘Why using WhatsApp is dangerous’, Durov said WhatsApp marketed end-to-end encryption as some magic incantation that is supposed to make all communications secure automatically.

“However, this technology is not a silver bullet that can guarantee absolute privacy by itself,” he said.

Durov claimed that Telegram’s ‘Secret Chats’ is significantly more secure than any competing means of communication.

“Don’t let yourself be fooled by the tech equivalent of circus magicians who’d like to focus your attention on one isolated aspect, all while performing their tricks elsewhere. They want you to think about end-to-end encryption as the only thing you have to look at for privacy. The reality is much more complicated,” the executive wrote.

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