Nokia is setting itself up for a transformative future, foreseeing a substantial surge in network demand by 2030. This surge is being driven by the rapid growth of emerging technologies such as the metaverse, Web3, and AI. The company’s Technology Strategy 2030 report outlines a comprehensive plan to upgrade network infrastructure and services to meet the anticipated increase.
At the core of Nokia’s forward-looking strategy is a significant investment in network technologies essential for navigating the expanding realms of the metaverse and beyond. The company is expecting a 22%-25% rise in network demand from 2022 to 2030, mainly fueled by the widespread adoption of generative AI and virtual reality devices. Nokia’s plan includes a substantial investment in its network equipment and services portfolio to support the evolving ecosystems of the Internet of Value, decentralization, blockchain, and smart contracts.
Nokia is not just preparing for the future but actively engaging with the opportunities presented by the metaverse. The company has established two labs dedicated to exploring the metaverse and its foundational technologies. Practical experiments and initiatives are already in place, such as using a 5G-connected Microsoft HoloLens for remote aircraft maintenance instructions. This showcases the potential of augmented reality to assist technicians in remote locations.
Nokia’s Technology Strategy 2030 report identifies key trends that will shape the future of connectivity, including AI, cloud computing, the metaverse, the Internet of Value, Industry 5.0, and API networks. By 2030, the proliferation of connected devices will drive significant adoption of the metaverse across consumer, enterprise, and industrial sectors. This technological leap is poised to revolutionize supply chains, manufacturing processes, and real-time interactions, paving the way for efficient supply planning.
The industrial metaverse is experiencing rapid growth, with sales expected to reach US$ 61.8 billion in 2022. Forecasts indicate a compound annual growth rate (CAGR) of 25.3% from 2023 to 2033, highlighting a shift towards integrating metaverse technologies in industries like car manufacturing. This integration is projected to drive innovation, propelling the Industrial Metaverse Market to grow from US$ 80.1 billion in 2023 to an impressive US$ 765.8 billion by 2033.
Nokia’s proactive approach to embracing technological evolution and seizing the opportunities presented by the metaverse sets a strong foundation for the company’s vision for 2030. By investing in network technologies, exploring metaverse opportunities, and shaping the future of connectivity, Nokia is positioning itself as a key player in the digital transformation landscape.
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