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Towards Future Internet: The Metaverse Perspective for Diverse Industrial Applications

Author

Listed:
  • Pronaya Bhattacharya

    (Department of Computer Science and Engineering, Amity School of Engineering and Technology and Research and Innovation Cell, Amity University, Kolkata 700135, West Bengal, India)

  • Deepti Saraswat

    (Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India)

  • Darshan Savaliya

    (Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India)

  • Sakshi Sanghavi

    (Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India)

  • Ashwin Verma

    (Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India)

  • Vatsal Sakariya

    (Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India)

  • Sudeep Tanwar

    (Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India)

  • Ravi Sharma

    (Centre for Inter-Disciplinary Research and Innovation, University of Petroleum and Energy Studies, Dehradun 248001, Uttarakhand, India)

  • Maria Simona Raboaca

    (Doctoral School, University Politehnica of Bucharest, Splaiul Independentei Street, No. 313, 060042 Bucharest, Romania
    National Research and Development Institute for Cryogenic and Isotopic Technologies—ICSI Rm. Vâlcea, Uzinei Street, No. 4, P.O. Box 10 7 Râureni, 240050 Râmnicu Vâlcea, Romania)

  • Daniela Lucia Manea

    (Faculty of Civil Engineering, Technical University of Cluj-Napoca, Constantin Daicoviciu Street, No. 15, 400020 Cluj-Napoca, Romania)

Abstract

The Metaverse allows the integration of physical and digital versions of users, processes, and environments where entities communicate, transact, and socialize. With the shift towards Extended Reality (XR) technologies, the Metaverse is envisioned to support a wide range of applicative verticals. It will support a seamless mix of physical and virtual worlds (realities) and, thus, will be a game changer for the Future Internet, built on the Semantic Web framework. The Metaverse will be ably assisted by the convergence of emerging wireless communication networks (such as Fifth-Generation and Beyond networks) or Sixth-Generation (6G) networks, Blockchain (BC), Web 3.0, Artificial Intelligence (AI), and Non-Fungible Tokens (NFTs). It has the potential for convergence in diverse industrial applications such as digital twins, telehealth care, connected vehicles, virtual education, social networks, and financial applications. Recent studies on the Metaverse have focused on explaining its key components, but a systematic study of the Metaverse in terms of industrial applications has not yet been performed. Owing to this gap, this survey presents the salient features and assistive Metaverse technologies. We discuss a high-level and generic Metaverse framework for modern industrial cyberspace and discuss the potential challenges and future directions of the Metaverse’s realization. A case study on Metaverse-assisted Real Estate Management (REM) is presented, where the Metaverse governs a Buyer–Broker–Seller (BBS) architecture for land registrations. We discuss the performance evaluation of the current land registration ecosystem in terms of cost evaluation, trust probability, and mining cost on the BC network. The obtained results show the viability of the Metaverse in REM setups.

Suggested Citation

  • Pronaya Bhattacharya & Deepti Saraswat & Darshan Savaliya & Sakshi Sanghavi & Ashwin Verma & Vatsal Sakariya & Sudeep Tanwar & Ravi Sharma & Maria Simona Raboaca & Daniela Lucia Manea, 2023. "Towards Future Internet: The Metaverse Perspective for Diverse Industrial Applications," Mathematics, MDPI, vol. 11(4), pages 1-41, February.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:4:p:941-:d:1066501
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    References listed on IDEAS

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    1. Fleura Bardhi & Giana M. Eckhardt, 2012. "Access-Based Consumption: The Case of Car Sharing," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(4), pages 881-898.
    2. Chang, Jasmine (Aichih) & Katehakis, Michael N. & Shi, Jim (Junmin) & Yan, Zhipeng, 2021. "Blockchain-empowered Newsvendor optimization," International Journal of Production Economics, Elsevier, vol. 238(C).
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    Cited by:

    1. Yang, Liang, 2024. "Metaverse Identity: Core Principles and Critical Challenges," 24th ITS Biennial Conference, Seoul 2024. New bottles for new wine: digital transformation demands new policies and strategies 302504, International Telecommunications Society (ITS).
    2. Keattikorn Samarnggoon & Supara Grudpan & Noppon Wongta & Konlawat Klaynak, 2023. "Developing a Virtual World for an Open-House Event: A Metaverse Approach," Future Internet, MDPI, vol. 15(4), pages 1-23, March.
    3. Kim, Youngju & Kim, Bumsoo, 2024. "How do the news media, academia, and the public view the metaverse? Evidence from South Korea," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    4. Tibor Princz-Jakovics & Márton Szemenyei, 2024. "Development of an e-governance system to support cooperative environmental policy actions," Environment Systems and Decisions, Springer, vol. 44(4), pages 763-778, December.

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