Is the industrial metaverse proving to be more than just a promising concept? Tom Cash, director of industrial parts supplier Foxmere, explains the current state of play.

81 per cent of industrial companies globally are using, testing or planning to adopt industrial metaverse technologies. That’s according to a survey by S&P Global Market Intelligence’s 451 Research in partnership with Siemens, involving 900 respondents from 16 industries in seven countries.

Siemens remains a major driver of this evolution of the metaverse. In July of last year, Siemens invested €500M in a new technology campus in Erlangen, Germany, to help develop its vision of the industrial metaverse.

The company intended to create a blueprint for the future — a real-time, photorealistic virtual representation of the world, where AI helps to create the next generation of high-tech, flexible and sustainable manufacturing technologies.

What sets Siemens’ initiative apart are the ambitious goals it aims to achieve within...