LSE Consulting, anchored within the London School of Economics and Political Science (LSE), released a report proposing a strategy for European dominance in the emerging Web 4.0 sector.
The report suggests emulating the model of Airbus, a multinational conglomerate formed through the merger of French, German, and Spanish aerospace companies, to create an industrial conglomerate dedicated to fostering innovation and growth in the metaverse. This approach aims to position the EU as a leading player in the global metaverse market.
An immersive industrial cluster, similar to Airbus in the aerospace industry, could contribute to specialized internet engineering expertise in Europe. This cluster would require support from national and regional governments to enhance engineering and research education programs and make them more attractive.
The report cites case studies from prominent European firms such as BMW, Ikea, Bosch Sensortec GmbH, Ericsson, and STMicroelectronics to underscore the potential of European companies in exploring metaverse technologies.
Michael Barngrover, Managing Director at XR4Europe, acknowledged the various paths available for European advancement in the metaverse sector. He highlighted the significance of LSE’s recommendations in shaping discussions about the continent’s future in this domain.
The report from LSE Consulting provides valuable insights and recommendations for positioning Europe as a dominant player in the Web 4.0 sector. By leveraging successful models from other industries and fostering innovation through collaboration and government support, Europe can enhance its competitiveness in the rapidly evolving metaverse landscape.
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