HFS Horizons Report
Metaverse Services Providers, 2023
March 2023
AUTHORS:
Phil Fersht, CEO and Chief Analyst
David Cushman, Executive Research Leader
“The metaverse has evolved rapidly over the last year, creating a whole new dimension for immersive customer and employee experiences.”
Phil Fersht, CEO and Chief Analyst, HFS Research
“2023 must be a big year for proving value. We expect metaverse services to come under firm pressure to deliver real ROI in an increasing majority of enterprise use cases. Enterprises are ready to invest, with 47% committing to 10%–20% growth in metaverse investments over the next two years and a further 40% planning to add 5%–10% to metaverse budgets. To match this, they need service providers to upskill and scale up.”
David Cushman, Executive Research Leader, Emerging Technology, HFS Research
Contents
- Introduction and key findings
- Research methodology
- Horizons results: Metaverse services providers, 2023
- Publicis Sapient profile: Metaverse services, 2023
- HFS Research authors
- Demographics, guides, and definitions
1. Introduction and key findings
Introduction
The term “metaverse” is regularly used as marketing shorthand for any virtual space or augmented reality in which users interact with digitally generated or enhanced environments and other users, often via digital versions of themselves. Enterprises can work with this definition to develop better virtualized customer, employee, and partner experiences and to upskill in preparation for the needs of future customers. We asked providers to also consider the future direction of the metaverse—where it becomes an open and interoperable driver of an emerging business paradigm disrupted by decentralization—and the impact of customer control of their own data.
- The value proposition for metaverse services is moving from a “return on learning” toward what HFS describes as value across three horizons:
- Horizon 1: Driving business outcomes, cost reduction, and productivity improvements
- Horizon 2: Horizon 1 + improving customer experience (CX) and employee experience (EX) at the enterprise level
- Horizon 3: Horizon 2 + unearthing new sources of value to drive growth and manage risks at the ecosystem level
- This inaugural HFS Horizons report for metaverse services examines the capabilities of 18 services providers and management consultancies to paint the supplier landscape across the three HFS Horizons.
- We assessed the service providers across a defined series of criteria:
- The Why: Value proposition
- The What: Execution and innovation capabilities
- The How: Go-to-market strategy
- The So What: Market and client impact
- This report also includes detailed profiles of each service provider, outlining their placement, provider facts, and detailed strengths and opportunities.
Executive summary
- An estimated $1 trillion metaverse economy opportunity awaits—but so far, HFS estimates the 18 service providers in this report are only capturing around $2.45 billion of it. To start closing the gap, 2023 must be a big year for proving value. We expect metaverse services to come under firm pressure to deliver real ROI in an increasing majority of enterprise use cases. Enterprises are ready to invest, with 47% committing to 10%–20% growth in metaverse investments over the next two years and a further 40% planning to add 5%–10% to metaverse budgets. To match this, they need service providers to upskill and scale up.
- Commitment to the metaverse is not evenly distributed. We found many examples of service providers relabeling or reorganizing existing functions under a metaverse umbrella rather than adding significant new investment. This is true of personnel and revenue recognition. Additional investment is easier to identify in new offerings, roadmaps, and partner ecosystems.
- Enterprises should push their providers for the application of robust value frameworks to focus on outcomes. Many of the leading service providers in this report have them readily available. There is no need to experiment outside of these frameworks. We see the shortest routes to value through CX, EX and, in the industrial metaverse, through digital twins—impacting training, product and service development, and the supply chain. Digital twins represent our best-yet data visualization technology.
- The best near- and mid-term opportunities come from adding metaverse capabilities and approaches rather than wholly replacing old ways of working, living, buying, and making with the new. As with most new technologies, the opportunity is in combining the best available solutions to meet specific needs.
- Many service providers are compiling technology stacks in reaction to customer need. While they stick to this, it is hard to see how they can envisage and therefore shape a future state to lead their clients toward. Customers are looking for a leader in unfamiliar territory.
- The metaverse of VR and AR and immersive experience is being widely embraced by both enterprises and service providers; the decentralized, data-challenging reality of Web3, less so. The most mature offerings embrace both. Service providers must be braver in outlining both the threats and the opportunities associated with the Web3-powered, decentralized, and interoperable version of the metaverse as it looms ever larger.
- The most mature metaverse services we identified in this report—in EX, CX and digital twins—are coming out of the innovation lab to be integrated into implementable enterprise-scale elements of core offerings.
The metaverse has moved from thought experiment to value
More hype than value
Invest if you want a high-risk and high-reward, but they don’t do much
Interesting thought experiments
Potentially game changing, but more philosophical as of now
Pilot and prove
Technology exists, but it needs a robust business strategy
Metaverse tech offers lessons in the virtualization of experience—and market access—now
Ready for primetime
Already proven to drive business outcomes and new sources of value
Examples across the spectrum:
- Cryptocurrencies
- Stablecoins
- NFTs
- CBDC
- Web 3.0
- Metaverse
- DeFi
- DAOs
- Ecosystem play
- Asset tokenization
- Multiparty financial transactions
- Supply chain track and trace
The open and interoperable true metaverse will drive new business models—but not yet.
Current value creation potential for enterprises: Least to Most.
CEOs have yet to wake up to the bigger picture on metaverse
Q. Rank the top three technologies your organization expects to invest the most in over the next 12 to 18 months.
Total percentage of rank 1, 2, or 3 responses.
- Blockchain: CEO 26%, CIO/CTO 15%
- AR-VR (augmented and virtual reality): CEO 21%, CIO/CTO 15%
- Web3 and metaverse: CEO 14%, CIO/CTO 12%
CEOs are more convinced by the nearer-term and often simpler use cases and benefits of blockchain and AR–VR than they are by the need to place their bets on Web3 and metaverse.
Blockchain and AR–VR are technology choices while Web3–metaverse requires buying into the process, enterprise, and cross-ecosystem benefits on offer.
Our data shows CIOs and CTOs are marginally more likely to see the bigger picture than their bosses. But just 14% and 15% are ranking Web3 and metaverse in their top three investments in 2023.
Sample: HFS Pulse 2022; n=98 Global 2000 CEOs, 104 Global 2000 CIOs and CTOs
Source: HFS Research, 2023
Enterprise appetite is huge—but it lacks strategic direction
Q. Rank the top three technologies your organization expects to invest the most in over the next 12 to 18 months.
Total percentage of rank 1, 2, or 3 responses.
Rank 1 / Rank 2 / Rank 3:
- Blockchain, AR–VR, Metaverse–Web3: 6% / 19% / 14%
- Cybersecurity: 13% / 10% / 13%
- Artificial intelligence (AI) (including machine learning, deep learning, computer vision, NLP/NLG): 11% / 11% / 12%
- Hybrid-cloud or multi-cloud: 11% / 9% / 11%
- Internet of things (IoT): 9% / 9% / 7%
- Smart analytics (predictive and prescriptive analytics): 7% / 9% / 9%
- Process automation: 8% / 8% / 8%
- 5G: 7% / 7% / 7%
- Quantum computing: 6% / 6% / 6%
- Microservices and containers: 5% / 4% / 5%
- Process mining and discovery: 4% / 6% / 4%
- Low code: 4% / 3% / 6%
Investment in the range of metaverse enablers (identified on page 18) is huge.
In combination, there is greater total prioritization (39% ranking 1, 2, or 3) placed on the metaverse enablers than on any other technology needs identified by our audience of Global 2000 executives (HFS Pulse, 2022).
The fact that enterprise buyers identify only a small proportion of this (14%) as related to their metaverse ambitions suggests a strategy gap that service providers must work harder to fill.
Projects involving AR and VR—and blockchain, too—should be delivered as part of a program with a clearer view on the more holistic business outcomes that the shift to metaverse can deliver.
The wisest long-term view is to add 5G, IoT, and quantum to that strategic plan.
Sample: HFS Pulse 2022; 602 G2000 executives
Source: HFS Research, 2023
Enterprises need service providers to step up
Using a 1 to 10 scale, where 1 is non-existent and 10 is the best you've seen, please rate vendors’ expertise in the following enabling technologies.
Scale labels: Non-existent, 2, 3, 4, 5, 6, 7, 8, 9, The best you've ever seen.
Metaverse:
- 1: 7%
- 2: 13%
- 3: 20%
- 8: 33%
- 9–10: 27%
Web3:
- 1: 8%
- 2: 20%
- 3–4: 28%
- 7: 16%
- 8: 16%
- 9–10: 12%
Augmented and virtual reality:
- 1: 2%
- 2: 4%
- 3: 2%
- 4: 7%
- 5: 16%
- 6: 21%
- 7: 23%
- 8: 16%
- 9–10: 9%
On average, enterprises are only willing to score their service provider partners 6.6/10 for metaverse expertise. One-fifth of those surveyed score their provider less than 5/10. The average rises to 7.2/10 for augmented and virtual reality. The related world of Web3 does better, with 44% of enterprises scoring their service provider 8/10 and above for their expertise.
For comparison, enterprises score service providers an average of 7.7 for process automation and 8.2 for analytics. It’s clear enterprises are less convinced by the capabilities available from service providers in the nascent area of metaverse services compared to those in which service providers have a longer track record. Enterprises leaders need convincing with success beyond the ideation session.
Sample: HFS Pulse H1 2023; n=300 Global 2000 leaders
Source: HFS Research, 2023
Service providers lag enterprise investment intent
Please specify which enabling technologies your service provider is leveraging as part of your relationship.
- Metaverse: 5%
- Web3: 8%
- Blockchain and distributed ledgers: 13%
- Augmented and virtual reality: 19%
- Edge computing: 20%
- Process mining and discovery: 24%
- Low code: 24%
- Applied AI (e.g., machine learning, deep learning, natural language processing, computer vision): 26%
- Process automation: 27%
- Analytics—predictive and prescriptive: 29%
- Internet of things: 29%
Enterprise customers say their service provider is leveraging metaverse-enabling technologies in only 5% of cases—yet…
Sample: HFS Pulse H1 2023; n=592 Global 2000 leaders
Source: HFS Research, 2023
…Metaverse will see biggest growth in enterprise investment
Question: By how much does your enterprise plan to increase investment in emerging technologies in the next 12–18 months?
20%+ increase / 10–20% increase / 5–10% increase / 1–5% increase
- Metaverse: 47% / 40% / 13%
- Low code: 24% / 25% / 32%
- Web3: 4% / 24% / 40%
- Augmented and virtual reality: 5% / 20% / 36%
- Analytics—predictive and prescriptive: 1% / 9% / 13% / 37%
- Process mining and discovery: 1% / 4% / 25% / 27%
- Edge computing: 2% / 5% / 15% / 29%
- Blockchain and distributed ledgers: 3% / 15% / 30%
- Applied AI: 1% / 5% / 14% / 29%
- Process automation: 6% / 13% / 29%
- Internet of things: 6% / 13% / 13%
Sample: HFS Pulse H1 2023; n=592 Global 2000 leaders
Source: HFS Research, 2023
Services—already worth $2.45 billion—will grow at an average of 15%
Metaverse services revenues ($ billion):
Metaverse services total headcount:
1 Individual expectations vary from 11% to 200% growth, depending on start point and growth to date.
Sample: Based on revenue and headcount growth estimates across 18 global service providers
Source: HFS Research, 2023
2. Research methodology
Hypothesis, inclusion criteria, and assessment
- The potential for metaverse in the enterprise is accelerating apace. How effectively are enterprises uncovering its potential across their customers and employees by partnering with service providers and consultants?
- In answering this, we selected 18 leading service providers and consultants offering metaverse services, based on revenue, investment, declared strategy, and market momentum.
- As further detailed on page 16, we assessed each provider’s value proposition (the Why?), execution and innovation criteria (the What?), go-to-market strategy (the How?), and market impact (the So What?).
- We assessed the combination of technology and services each provider is developing, applying, or partnering to deliver, many of which are captured on pages 17 and 18.
- Page 19 lists our definitions of Horizon 1, 2, and 3 in the context of metaverse services and what we are looking for from qualifying vendors.
Assessment methodology
The HFS Horizons Metaverse Services Providers, 2023 report evaluates the capabilities of providers across a range of dimensions to understand the Why, What, How, and So What of their metaverse services offerings. Our assessment is based on inputs from clients, partners, and employees and augmented with analyst perspectives. The following illustrates how we have assessed their vision, execution and capabilities.
Assessment dimension / Assessment sub-dimension / Distinguishing supplier characteristics
Value proposition: The Why? (25%)
Assessment sub-dimension:
- How do you define “metaverse”?
- Strategy and vision for metaverse and nature of outcomes
- Why did enterprises choose to work with you on metaverse?
Horizon 1 service providers:
- Ability to drive functional digital transformation by driving cost reduction, speed, and efficiency
Horizon 2 service providers:
- Horizon 1 + Ability to drive OneOffice mindset enterprise-level with real enterprise-level business outcomes
Horizon 3 service providers:
- Horizon 2 + Ability to drive OneEcosystem approach by finding completely new sources of value
Execution and innovation capabilities: The What? (25%)
Assessment sub-dimension:
- Technology roadmap for the metaverse
- How are you developing ecosystem partners for your roadmap?
- Where are you investing to deliver on your metaverse experience (your own employees’ experiences, your customers’ and your customers’ employees’ experiences, infrastructure, and labs?)
- How are you developing or training your staff to exploit the metaverse opportunity? Strategies for junior and senior talent? Specific hiring programs for metaverse capabilities?
- How are you developing the infrastructure to help clients define business outcomes and their future roadmap?
Horizon 1 service providers:
- Primarily focused on implementation
- Offshore-focused with strong technical skills and partnerships with 1-2 hyperscalers
- Demonstrate robust fundamentals of cloud-transformation with clients
- Partnerships with foundational technologies supporting the metaverse (e.g., IoT, blockchain, NFTs, 5G, AR, VR, digital twins)
Horizon 2 service providers:
- Ability to support clients’ metaverse roadmaps, aligning customer and employee experience
- Ability to create metaverse experiences with own employees
- Horizon 1 + global capabilities with strong consulting skills and partnerships with metaverse tech specialists covering DeFi, tokenization, geospacing tech
Horizon 3 service providers:
- Strategy and execution capabilities at scale
- Horizon 2 + well-rounded capabilities across all value creation levers: talent, domain, technology, data, and change
- Partnerships on emerging technologies that support the metaverse, e.g., Web3, dApps and DAOs, quantum
Go-to-market strategy: The How? (25%)
Assessment sub-dimension:
- What are you actually selling with the metaverse?
- What industries are you targeting? Investing in for 2023?
- New value sources from metaverse partner ecosystem
Horizon 1 service providers:
- Robust delivery of metaverse technologies
Horizon 2 service providers:
- Horizon 1+
- Proven and leading-edge proprietary tools, assets, and frameworks
Horizon 3 service providers:
- Horizon 2+
- Driving co-creation with clients and ecosystem partner
Market impact: The So What? (25%)
Assessment sub-dimension:
- How are you organized to develop your metaverse offerings and capabilities? Centralized, regional, or by vertical?
- Early- and mid-stage client experiences with metaverse
- Voice of the customer
Horizon 1 service providers:
- Referenceable and satisfied clients for ability to execute
Horizon 2 service providers:
- Horizon 1+
- Referenceable and satisfied clients for ability to innovate
Horizon 3 service providers:
- Horizon 2+
- Referenceable and satisfied clients driving new business models on the basis of the partnership
Metaverse enabling technologies and service capabilities
- Decentralized finance (DeFi)
- New business models (HFS OneEcosystem™)
- Metaverse (AR, VR, XR)
Web3 includes:
- Decentralized autonomous organizations
- Decentralized apps
- Metadata and privacy
- NFTs, tokenization
- Substrates
- Decentralized network and security
- Public blockchain (including smart contracts)
- Hybrid, multi-cloud, cloud 3
- Universal information (decentralized data)
- IoT, quantum, 5G, edge computing
Additional ecosystem factors:
- Incentive alignment
- Ecosystem governance
- Environmental impact
- Network effects
Metaverse services may comprise a menu of old and new
Something new:
- Virtual reality*
- Augmented or mixed reality*
- Extended reality*
- Blockchain*
- NFTs*
- Crypto*
- DeFi*
Old favorites:
- Digital twins
- Digital customer experience
- E-commerce
- Online events
- Online gaming
Secret sauces:
- Artificial intelligence
- Future-facing data strategy
- Web3
*Definitions in our A-Z of Web3
Source: HFS Research, 2022
HFS Horizons: What makes a Horizon 1, 2 or 3 provider?
Horizon 3—New sources of value
Horizon 2 +
Ability to drive OneEcosystem approach by finding completely new sources of value
- Strategy and execution capabilities at scale
- Well-rounded capabilities across all value creation levers: talent, domain, technology, data, and change
- Partnerships on emerging technologies that support the metaverse e.g., Web3, dApps and DAOs, quantum
- Driving co-creation with clients and ecosystem partners
- Referenceable and satisfied clients driving new business models on the basis of the partnership
Horizon 2—Improving stakeholder experience
Horizon 1 +
Ability to drive OneOffice mindset enterprise-level with real enterprise-level business outcomes
- Global capabilities with strong consulting skills and partnerships with metaverse technology specialists covering DeFi, tokenization, geospacing tech
- Proven and leading-edge proprietary tools, assets, and frameworks
- Ability to support clients’ metaverse roadmaps, aligning customer and employee experience
- Ability to create metaverse experiences with own employees
- Referenceable and satisfied clients for ability to innovate
Horizon 1—Driving business outcomes
Ability to drive functional optimization outcomes through cost reduction, speed, and efficiency
- Primarily focused on implementation
- Offshore-focused with strong technical skills and partnerships with 1-2 hyperscalers
- Demonstrate robust fundamentals of cloud-transformation with clients
- Partnerships with foundational technologies supporting the metaverse (e.g., IoT, blockchain, NFTs, 5G, AR and VR, digital twins)
- Robust delivery of metaverse technologies
- Referenceable and satisfied clients for ability to execute
Services providers covered in this report
We identified the leading service providers offering metaverse services, based on revenue, investment, declared strategy, and market momentum.
Note: Service providers are listed alphabetically.
HFS has leveraged a wide range of data sources (public and private) and conducted independent interviews with enterprise executives.
Covered providers:
- Accenture
- Capgemini
- Coforge
- Cognizant
- EY
- Foundever
- Hexaware
- IBM
- Infosys
- KPMG
- LTIMindtree
- Publicis Sapient
- PwC
- RRD
- TCS
- Tech Mahindra
- UST
- Wipro
Sources of data
This report relied on myriad data sources to support our methodology and help HFS obtain a well-rounded perspective on the metaverse services capabilities of the providers covered in our study. Sources are as follows:
RFIs and briefings
Each participating vendor prepared and presented a detailed briefing responding to specific questions provided by HFS. They also responded to brief but specific data-point requests for information.
Reference checks
We conducted reference checks with active clients of the study participants via phone-based interviews and/or detailed surveys. We also sought references from partners and, where available, employees.
HFS vendor ratings
Each year, HFS fields multiple demand-side surveys in which we include detailed vendor rating questions. For this study, we leveraged our fresh from the field HFS Pulse Study data featuring 900+ inputs across Global 2000 enterprise.
Other data sources
Public information, such as press releases and web sites.
Ongoing interactions, briefings, virtual events, etc., with in-scope vendors and their clients and partners.
3. Horizons results: Metaverse services providers, 2023
Summary of providers assessed in this report
Accenture — Metaverse as a catalyst for total enterprise reinvention
Capgemini — Leading with immersive multi-sensory experiences
Coforge — Metaverse as a value maximizer for blockchain and AI
Cognizant — Just another toolkit for fixing enterprise problems
EY — Sophisticated, compliance-led, sector-specific, strategy-to-launch
Foundever — CX-focused services for metaverse natives and beginners
Hexaware — Fast tests delivered with established technology ecosystem
IBM — Infrastructure-led continuum of value, enabling rapid scale
Infosys — Deep-tech early mover meeting customers where they are
KPMG — Managing the real risks of the big problems in virtual worlds
LTI Mindtree — Creative flair meets modular tech focused on collaboration
Publicis Sapient — CX-led approach and enviable self-transformation
PWC — Embedding trust to build safe metaverse solutions
RRD — Content and experience metaverse to help CMOs do business
TCS — End-to-end capabilities focused on experience 4.0
Tech Mahindra — Mature practice with major implementation creds
UST — Pragmatic delivery of fast, value-focused metaverse POCs
Wipro — Comprehensive test-and-learn offers for now and next
HFS Horizons: Metaverse services providers
Horizon 3 – Market Leaders:
- Accenture
- EY
- IBM
- Infosys
- KPMG
- Publicis Sapient
- Tech Mahindra
- Wipro
Horizon 2 – Enterprise Innovators:
- Capgemini
- Coforge
- Cognizant
- Hexaware
- PwC
- RRD
- TCS
Horizon 1 – Disruptors:
Note: All service providers within a “Horizon” are listed alphabetically.
4. Publicis Sapient profile: Metaverse services, 2023
Publicis Sapient: CX-led approach and enviable self-transformation
HORIZON 3 – Market Leader
HORIZON 2 – Enterprise Innovator
HORIZON 1 – Disruptor
Strengths
- Definition and value proposition: The metaverse / Web3 are the next iteration of the internet. Publicis Sapient focuses on decentralizing power to individual users in varying degrees. Individuals seek value through a metaverse owned by builders and users, orchestrated by Web3 currency, spanning AR/VR, websites and the physical, in open communities.
- Offerings: Through its SPEED (strategy, product, experience, engineering, and data and AI) capabilities, Publicis Sapient focuses on authentication, ticketing, AR/VR, coupons and loyalty, digital identity, and ecommerce gamification. The Web3 Quick Start program can deliver in 6–10 weeks.
- Growth proof points: Publicis Sapient invested in creating a series of POCs as evidence it can solve the hard problems of the metaverse, drawing together Publicis Groupe resources to create a metaverse tech stack, LionVault to provide a crypto fast pass, six-level learning management certification in metaverse skills, and Web3 Quick Start for POCs.
- Key differentiators: Publicis Sapient has a digital business transformation focus, CX expertise, media knowledge, internal training and development, access to Publicis Groupe’s (97,000 employees) scale and innovation, and a start-up mentality.
- Outcomes: It has delivered a leading beauty brand POC into production, and is providing metaverse strategy, vendor and agency selection, definition, and analytics capabilities for Unilever. POCs include NFT marketplace, blockchain loyalty, and a smart key fob in automotive.
- Customer kudos: The company exceeded expectations improving CX and developing new business models. It’s looked to for strategic transformation and design capabilities and applauded for collaboration and driving ecosystem synergies.
- Partner kudos: It has formidable big brand access, excellent at project management and in guiding partners toward deals.
Development opportunities
- What we’d like to see more of: We love the internal focus on training and development.
- What we’d like to see less of: Publicis Sapient has invested to build strong creds; 2023 should be a year of profitable deliverables and fewer POCs.
- Customer critiques: Customers report few weaknesses, but indicate room for improvement regarding the use of metaverse specialist advisory partners.
- Partner critiques: More metaverse team resources please! Trying to operate like a scale-up is not always a good fit with the pressures of enterprises.
Relevant M&A and partnerships
Acquisitions (2019–2022)
Partnerships
- Salesforce, Google, Microsoft, Meta, AWS, Consensys, Polygon, Niantic, Roblox, Zepeto, AirCards, POAP, Surreal Events, TokenProof, Boson Protocol, Dapper Labs, Giga Labs, Coinbase, IYK
Key metaverse services clients
Number of metaverse services clients: Undisclosed
Key clients:
- Multinational FMCG
- global multi-brand beauty business
- snacking brand
- spaceflight experience for a museum
- several major automotive brands
- airport lounge
- credit card company
Global metaverse operations and resources
Metaverse services headcount: Undisclosed; HFS estimates 50% yoy growth.
Delivery and metaverse labs: No specific metaverse labs; incubators in Atlanta, Boston, and Chicago; emerging experience labs in Boston, San Francisco, Seattle, Paris, and Munich; and in-venue digital design labs in Atlanta, NYC, and Portland. Mobile CoEs aggregate expertise and physical hardware (AR, VR, MR) in Atlanta, Boston, and Stockholm.
Target industries: Retail, consumer goods, financial services, travel and hospitality, telco, media and tech, transportation and mobility, energy and commodities, PS and health
Organization: Centralized with plans to verticalize metaverse offerings
Flagship internal or co-developed IP—metaverse services
- LionVault (Publicis Groupe) is an on ramp to develop Web3 and metaverse experiences by enabling blockchain-based transactions for clients.
- Learning Management Solution to ramp up training and certification in all Web3 areas.
5. HFS Research authors
HFS Research authors
Phil Fersht
CEO and Chief Analyst
phil.fersht@hfsresearch.com
Phil Fersht is widely recognized as the world’s leading independent analyst focused on the alignment of business operations and technology, spanning more than two decades. He has a global reputation for calling out the big trends, being unafraid to share his honest views, and driving a narrative on the technology and business services industries that shape many leadership decisions.
His reputation drove him to establish HFS Research in 2010. Fersht coined the term “OneOffice” in 2016 to describe HFS Research’s vision for future business operations amidst the impact of cloud, automation, AI, and disruptive digital business models.
David Cushman
Executive Research Leader
david.cushman@hfsresearch.com
David Cushman is our strategic lead for Metaverse and Web3, aligning closely with his research in Emerging Technology. He is also deeply engaged in research into Employee Experience, and leads our HFS Hot Vendors program.
Experienced in start-up, scale-up and large-scale digital transformation programs, he has led digital development at the UK’s fastest-growing media company, founded and grown digital consultancies across Europe and worked with world-class companies as a director in digital strategy advisory at a tier-1 services provider.
He is the author of The 10 Principles of Open Business (Palgrave-Macmillan, 2014).
6. Demographics, guides, and definitions
Demographics
Our cohort of metaverse services providers provided customer references. References hold decision-making roles in Global 2000 enterprises.
Heading
Location of respondents
- North America: 61%
- LATAM: 15%
- Europe: 8%
- India: 8%
- Aus-NZ: 8%
What do customers use metaverse service providers for?
- Design capabilities: 69%
- Strategic transformation: 62%
- Access to specific talent/skills: 54%
- Tech-enabled business strategy: 54%
- Implementation and integration: 54%
- Application development: 46%
- Access to emerging tech: 38%
- Business process operations: 15%
- Application management: 8%
- IT infrastructure operations: 8%
- Cloud expertise: 8%
- Data and analytics: 8%
Primary IT roles among respondents
- Architecture: 50%
- Software engineering: 37%
- Digital: 13%
Primary business roles among respondents
- Finance, treasury: 55%
- Marketing: 18%
- Operations: 9%
- Business, shared services: 9%
- Strategy, innovation, R&D: 9%
Guides and definitions
This report may contain terms, abbreviations, and concepts you may not be familiar with. HFS has compiled a series of guides to help newcomers understand the implications for a new business paradigm driven by metaverse-related technologies.
Click images of the reports to open links. For more, search “metaverse” at www.hfsresearch.com.
About HFS
Insight. Inspiration. Impact.
HFS is a unique analyst organization that combines deep visionary expertise with rapid demand-side analysis of the Global 2000. Its outlook for the future is admired across the global technology and business operations industries. Its analysts are respected for their no-nonsense insights based on demand-side data and engagements with industry practitioners.
HFS Research introduced the world to terms such as “RPA” (Robotic Process Automation) in 2012 and more recently, Digital OneOffice™ and OneEcosystem™. The HFS mission is to provide visionary insight into the major innovations impacting business operations such as Automation and Process Intelligence, Blockchain, the Metaverse and Web3. HFS has deep business practices across all key industries, IT and business services, sustainability and engineering.