Metaverse Training: A New Dimension of Corporate Training

The global VR in the education market will hit 13,098.2 million by 2026. (Fortune Business Insights)

Greenlight Insight reports,

• 78% of Americans are familiar with VR technology now.

• The AR/VR market worldwide will touch $209.2 billion in 2022.

It feels like just a couple of years ago, technologies like Augmented Reality and Virtual Reality were the hot trends in science fiction.

And now, they are the reality that every industry strives to achieve. All sectors are grappling with effectively utilizing these technologies, from education to corporates.

The emergence of the metaverse and metaverse training have made the craze for immersive technologies more alive.

All industries are now focussing on leveraging metaverse services in almost all facets of their businesses. 

• The global metaverse market will ascend to $426.9 billion by 2027. (Markets And Markets)

Hence the novel metaverse reality is going up the Web 3.0 tide, breathing life to concepts like metaverse training.

This unique phenomenon can change the human outlook on teaching and learning approaches.

• VR and AR technology will influence about 23 million jobs shortly. (PWC)
  

If we value PWC's forecast, then training in the metaverse seems peerless for corporates to stay relevant in the market. You can learn more about metaverse for enterprise.

For a few years, corporates have been experimenting with immersive technologies and e-learning platforms to train their employees.

But, now switching to metaverse seems the most beneficial for them to help employees grow their technical and soft skills.

What Is Metaverse Training For Corporates?

As per the reports of PWC,

• The global top 100 companies' market capitalization has increased by 11% by March 2022. The amount is a whopping $35.2 trillion. 

  
  

• Another fascinating fact is that technology companies worldwide represent almost 34% of the top 100 global companies. They contribute approx. $12.0 trillion market capitalization.
  
  

Hence, corporate companies must stay up-to-date regarding the latest technologies and trends to remain relevant in the market.

• Companies must provide their employees with relevant training to boost productivity in person, blended, or remote work settings.

  
  

• Moreover, frequent corporate training ensures employees grow their knowledge and skills and work in a supportive environment.

  
  

• As technologies like AI, ML, AR, VR, MR, Etc., are fostering metaverse training, it opens new prospects for training corporate employees.

  
  

• Companies invest a lot in training their employees in the verticals of sales training, technical training, soft skill training, and even customer services.

  
  

• For example, if a company decides to grow a new service line, they must arrange short training for employees before the big launch.

   

• Metaverse for training allows employees to acquire new knowledge and skills faster than before in a safe virtual environment.

  
  

• Theoretical knowledge may not always prove effective; they lack real-life experiences.

  
  

• On the contrary, metaverse training is an ideal, cost-effective, and practical solution for corporates looking to enhance their employees' performance. 
  
  

Also read: Positive Impacts of Gamification in Workplace

The efficiency of Metaverse Training to Grow Technical Skills

The global metaverse market will grow to 61.8 billion in 2022. (Markets And Markets). The growing corporate training space is equally responsible for this massive growth.

The more innovative technology corporates implement in their training program, especially metaverse learning, the learning impact will get more extensive. The innovative metaverse training will bring the following immediate benefits to the corporate sector:

Learning Speed

Metaverse corporate training program allows employees to access several digital tools.

Consequently, Employees learn faster than in a traditional training environment.

Convenient Learning Mode

On choosing the metaverse training option for employees, employers do not need to walk the extra mile to select the training venue or check the safety parameters.

Employees can learn and upgrade their skills in a virtual and safe environment.

In the case of arranging traditional employee training programs, employers need to organize the training space that goes hand in hand with all the safety parameters.

Cost-Efficient Learning

Metaverse corporate training is undoubtedly a cost-effective solution.

Employers do not need to arrange employee transfers, training tours, office rearrangements, or other preparations associated with physical training.

Employee training in the metaverse helps corporate decision-makers to save the unnecessary spending of their resources.

Improved Skill And Performance

Employees can learn critical business operations within a safe metaverse learning virtual environment.

It allows them to get virtually hands-on experiences, facilitating their skill growth.

They learn how to solve critical issues in real-world scenarios while training in a virtual risk-free zone.

No doubt, it fosters their learning growth but also ensures faster onboarding through metaverse for training.

Moreover, the metaverse training space enables employees to gain and master new skills simultaneously.

Employees can boost their performance within the organization with sharpened skill sets.

Related post: How AR VR Can Augment Military Training?

How Metaverse Training Helps Employees Grow Soft Skills

In a global corporate scenario, companies are going through gaps not only in technical skills but also in the case of soft skills.

The technological skill demand will touch 55% by 2030. (McKinsey)

On the other hand, the Soft skills training market will grow at a CAGR of 12.5% between 2020 and 2027. (Data Bridge Market Research)

Soft skills are in great demand and surprisingly hard to attain and implement in a workplace. 

Conflict resolution, teamwork building, communication skills, time management, and leadership have become more critical than ever. 

However, the challenge lies in stuffing your employees with soft skills and teaching them how to implement them rightfully. 

The challenge gets heightened in hybrid or remote workplace settings.

Well, with the metaverse training approach, even challenges like remote soft skill training become effortless. 

With the help of a metaverse development company, corporate employers can refer to real-world scenarios to show their employees the immediate actions of their specific way of speaking, the proven methods of leadership, and many other things. 

In this way, employers can leverage the metaverse technology to fine-tune their employees' technical and soft skills.

Parting Words

• By 2024, the global metaverse market will snowball to almost $800 billion. (Earth Web)
  

The IT industry has already fastened its seatbelt to go higher with its metaverse venture. And in that case, metaverse training for employees is worth of investment.

It will push corporate metaverse efforts to a new dimension of success.

EDIIIE boasts of its professional and experienced immersive technology experts in NFT development, and Blockchain development.

Our experts hold ample metaverse knowledge and skill to feed the corporates.

Access to EDIIIE website to squeeze the most out of the metaverse technology until it's hot.