German businesses are still holding back on the Metaverse project – Image: Xpert.Digital
Potential in the Metaverse: Why German companies hesitate
Indecisiveness in the metaverse: What is blocking German companies?
Although the metaverse offers potential applications in many industries and sectors, German companies remain hesitant to take action themselves. According to a survey by Bitkom, there is widespread uncertainty surrounding the topic. One-fifth of companies (20 percent) view the metaverse as an opportunity, while almost as many (17 percent) consider it a risk. Around a quarter (27 percent) offered no opinion, and 37 percent believe that the metaverse will have no impact on their own business. At the same time, approximately 23 percent are interested in and open to the metaverse, while 24 percent are critical and dismissive. The largest group, 43 percent, remains undecided.
It is worrying that one in ten companies (10 percent) state that the metaverse threatens their business model, and 15 percent even feel their existence is threatened by it. Nevertheless, the vast majority (83 percent) want to wait and see what experiences other companies have with the metaverse. These figures come from a representative survey of 605 companies with at least 20 employees in Germany, commissioned by the digital association Bitkom.
Bitkom CEO Dr. Bernhard Rohleder emphasizes that while the initial euphoria surrounding the metaverse has subsided, there is no reason to dismiss the topic. On the contrary, many applications are already in practical use, particularly in the commercial sector. This applies, among other things, to the Industrial Metaverse with digital twins in manufacturing. Rohleder warns that waiting is not a strategy. German companies should examine potential areas of application and closely monitor further technological developments.
More applications and standards are desired, less data protection and legal uncertainty
The biggest challenge companies see surrounding the metaverse is a perceived lack of practical applications (76 percent). Two years ago, this figure was 66 percent, indicating increasing skepticism. 43 percent of companies see no benefit for themselves, and 14 percent are already investing in other future trends. There are also concerns regarding the technology: three-quarters (73 percent) consider it immature, 55 percent complain about insufficient standardization, and 10 percent lack external service providers.
Regulatory challenges also arise. For example, 67 percent of companies see stringent data protection requirements as an obstacle, 44 percent cite legal uncertainties and an unclear legal framework, and 36 percent view IT security requirements as a hurdle. Internal barriers also exist on the path to the metaverse. Approximately half of the companies lack the necessary expertise (52 percent) or qualified personnel (46 percent). Seventeen percent each lack sufficient financial resources or time to address the issue.
The significance of the Metaverse for the German economy
The metaverse has the potential to fundamentally change the way businesses operate. It offers new possibilities for collaboration, product design, and customer interaction. For example, companies can use virtual environments to develop and test products before they go into physical production. In the manufacturing sector, the industrial metaverse enables the creation of digital twins that provide real-time data, thereby increasing efficiency and product quality.
Despite these advantages, the reluctance of German companies shows that many questions remain unanswered. The technology is still abstract for many, and there is a lack of concrete use cases that make the benefits of the metaverse tangible. Furthermore, the investment costs and resource expenditure for implementation are a deterrent for many companies.
The need for standards and cooperation
Another important aspect is the lack of standardization. Without uniform standards, it is difficult to develop interoperable systems that work together seamlessly. This leads to isolated solutions and hinders the widespread adoption of the technology. However, developing standards requires collaboration between companies, industry associations, and regulatory authorities.
Data protection and legal framework
Concerns about data privacy and legal uncertainties also pose significant obstacles. Strict data protection laws in Germany and the EU, such as the GDPR, place high demands on data processing and storage. Companies must ensure they meet these requirements, which necessitates additional resources. Furthermore, many legal questions within the context of the metaverse remain unresolved, particularly regarding intellectual property, liability, and consumer rights.
Ways to overcome the obstacles
To overcome these obstacles, companies must act proactively. They should build internal expertise by training employees and hiring specialized professionals. Partnerships with technology providers and research institutions can help acquire the necessary know-how. Furthermore, it is important to launch pilot projects to gather practical experience and evaluate the benefits of the metaverse for their own business model.
The role of politics and associations
Policymakers and industry associations are also called upon to improve the framework for using the metaverse. This includes creating clear legal frameworks, promoting standardization initiatives, and providing funding for research and development.
Possibilities and application scenarios
Despite current reluctance, there are indications that investments in the metaverse will increase in the coming years. Technological advances, such as improvements in virtual and augmented reality technologies, the further development of blockchain, and increasing connectivity through 5G, are creating new opportunities and application scenarios.
Companies that invest early in the metaverse and gain experience could achieve long-term competitive advantages. They can develop innovative business models, tap into new markets, and implement more efficient processes.
The metaverse presents both a challenge and an opportunity for the German economy. While current reluctance is based on understandable concerns, companies should not ignore this development. A strategic approach that weighs the opportunities and risks can help to successfully leverage the potential of the metaverse.
Through proactive action, the promotion of innovation, and collaboration with various stakeholders, existing obstacles can be overcome. Ultimately, the metaverse could make a significant contribution to the digital transformation of the German economy and strengthen its competitiveness on a global scale.
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Key findings of the survey
A wait-and-see approach: German economy caught in the metaverse dilemma
German businesses remain hesitant and reserved regarding the Metaverse. Although many companies recognize the Metaverse's potential across various industries and sectors, they are often uncertain and cautious about their own participation. A representative survey conducted by the digital association Bitkom among 605 companies with at least 20 employees underscores this reluctance.
Opportunities and risks
One-fifth of companies (20%) see the metaverse as an opportunity, while almost as many (17%) view it as a risk. A quarter (27%) are unable to offer an assessment, and 37% believe that the metaverse will have no impact on their business.
Interest and rejection
Approximately 23% of companies are interested in and open to the metaverse, while 24% are critical and opposed to the topic. The largest group (43%) is still undecided.
Threat potential
One in ten companies (10%) views the metaverse as a threat to its business model, and 15% feel their existence is threatened.
Wait
Despite these uncertainties, 83% of companies want to wait and see what experiences other companies have with the metaverse.
Challenges for implementation
Missing applications and standards
The biggest challenge for companies is a perceived lack of practical applications (76%). Furthermore, 55% complain about insufficient standardization.
Technological maturity
Three-quarters of companies (73%) do not yet consider the metaverse technology to be mature.
Regulatory hurdles
Data protection requirements (67%), legal uncertainties (44%) and unclear IT security requirements (36%) represent further major hurdles.
Internal obstacles
Internally, many companies lack the necessary know-how (52%) and qualified personnel (46%). Furthermore, 17% lack sufficient financial resources or time to address the issue.
Examine potential areas of application
Although the initial euphoria surrounding the metaverse has subsided, Bitkom CEO Dr. Bernhard Rohleder still sees great potential, particularly in the commercial sector, for example through the *Industrial Metaverse* with digital twins in manufacturing. German companies should therefore examine potential applications and closely monitor technological developments instead of simply waiting.
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