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2Q 2023

The Energy Metaverse

Digital Twins, AI, Extended Reality, Drones, and Blockchain for the Utility and Oil & Gas Sectors: Global Market Outlook and Forecasts, 2022-2031

The energy metaverse is just emerging, but the building blocks are securely in place—so much so that Guidehouse Insights forecasts more than $300 billion in cumulative global investment in core energy metaverse technologies over the next decade. So just what is the energy metaverse?

Broadly speaking, the metaverse is the confluence of several emerging digital technologies, most already familiar to energy industry executives, which promises to radically change the way energy companies plan, build, operate, and market their services over the long term. Core energy metaverse technologies include digital twins, AI and machine learning (ML), unmanned aerial systems (UAS) and drones, extended reality (XR), and blockchain-based applications.

When the energy metaverse is fully realized—admittedly more than a decade away—utilities and oil & gas (O&G) concerns can envision a day when employee onboarding and training take place via XR in a metaverse-based training center. Utility storefronts in metaverse malls could provide virtual customers with real-world benefits such as product comparisons and purchasing, energy use analysis, and evaluation of a premises’ suitability for solar. In-demand specialized experts in a field could work on a virtual offshore rig, advising onsite workers how to address a problem—without ever leaving their home office. And drones could conduct ongoing inspections of critical assets, feeding real-time data into digital twins equipped with advanced AI to predict and prevent wildfires or methane emissions.

This Guidehouse Insights report provides an overview of the energy metaverse. It defines the core technologies and provides case studies where these technologies are in use today. It outlines energy metaverse market drivers and barriers and describes the industry value chain and competitive landscape. Finally, it provides market forecasts for core energy metaverse technology investments by the utility and O&G energy verticals through 2031.

Pages 42
Tables | Charts | Figures 33
  • What is the metaverse? How will the energy industry leverage metaverse technologies?
  • What are some examples of energy metaverse investments taking place today?
  • What are the market drivers and barriers for energy industry investments in metaverse technologies?
  • Who are the key players developing metaverse solutions, and what can they do for the energy industry?
  • How large will investment in core energy metaverse technologies become over the next decade?
  • Utilities
  • O&G concerns
  • Digital twin solution vendors
  • UAS/drone solution vendors
  • Extended reality solution vendors
  • Energy IT/OT solution vendors
  • AI/ML solution vendors
  • Regulators
  • Investor community

1. Executive Summary

1.1   Energy Metaverse Market Forecast

2. Market Issues

2.1   What Is the Metaverse?

2.2   Metaverse Technologies

2.2.1   Digital Twins.

2.2.1.1   Case Study: Transmission System Operator

2.2.1.2   Case Study: Oil Refinery

2.2.2   AI and Machine Learning

2.2.3   Extended Reality

2.2.3.1   Case Study: American Electric Power

2.2.4   Unmanned Aerial Systems and Drones

2.2.5   Metanomics and Blockchain

2.2.5.1   Energy Metanomics and Blockchain

2.3   Market Drivers

2.4   Market Barriers

2.5   A Metaverse Roadmap for the Energy Industry

2.6   The Energy Metaverse and Sustainability

3. Industry Value Chain

3.1   Competitive Landscape

3.1.1   Major Energy IT/OT Solution Providers

3.1.2   XR Equipment and Software Providers

3.1.3   UAS/Drone Equipment and Software Providers

3.1.4   Metaverse Platform Providers

3.1.4.1   NVIDIA Omniverse Case Study: Predictive Maintenance in Power Plants

4. Market Forecasts

4.1   Methodology

4.2   Regional Outlook

4.2.1   North America

4.2.2   Europe

4.2.3   Asia Pacific

4.2.4   Latin America and Middle East & Africa

4.2.5   Cumulative Investment by Technology: Regional Market Shares, 2022-2031

5. Conclusions and Recommendations

5.1   Three Big Takeaways

5.2   Recommendations

6. Acronym and Abbreviation List

7. Table of Contents

8. Table of Charts and Figures

9. Scope of Study, Sources and Methodology, Notes

  • Energy Metaverse Spending by Region, World Markets: 2022-2031
  • Energy Metaverse Spending by Technology Segment, World Markets: 2022-2031
  • Energy Metaverse Spending by Technology Segment, North America: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Europe: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Asia Pacific: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Latin America: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Middle East & Africa: 2022-2031
  • Cumulative Energy Metaverse Spending Share by Region, World Markets: 2022-2031
  • Cumulative Energy Digital Twin Spending Share by Region, World Markets: 2022-2031
  • Cumulative Energy AI/ML Spending Share by Region, World Markets: 2022-2031
  • Cumulative Energy Extended Reality Spending Share by Region, World Markets: 2022-2031
  • Cumulative Energy UAS/Drones Spending Share by Region, World Markets: 2022-2031
  • Cumulative Energy Blockchain Spending Share by Region, World Markets: 2022-2031
  • Core Components of the Energy Metaverse
  • Digital Twin Maturity Dimensions
  • The Digital Twin Hierarchy (Utility Example)
  • The Extended Reality Spectrum
  • Blockchain Use Cases across the Energy and Power Industries
  • Energy Metaverse Technologies and Use Cases
  • Typical Activities and Progress across the Energy Metaverse Value Chain
  • Select Energy Metaverse Solution Vendors
  • Energy Metaverse Spending by Region, World Markets: 2022-2031
  • Energy Metaverse Spending by Technology Segment, World Markets: 2022-2031
  • Energy Metaverse Spending by Technology Segment, North America: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Europe: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Asia Pacific: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Latin America: 2022-2031
  • Energy Metaverse Spending by Technology Segment, Middle East & Africa: 2022-2031
  • Energy Metaverse Spending by Region, Digital Twins: 2022-2031
  • Energy Metaverse Spending by Region, AI/ML: 2022-2031
  • Energy Metaverse Spending by Region, Extended Reality: 2022-2031
  • Energy Metaverse Spending by Region, UAS/Drones: 2022-2031
  • Energy Metaverse Spending by Region, Blockchain: 2022-2031
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