80% of Business Pros in Singapore Are Ready for the Metaverse
A new study commissioned by Ciena (NYSE: CIEN) has uncovered just how ready business professionals are to collaborate in the virtual world. According to the findings, 98% of Singaporean business professionals recognize the value of virtual meetings, and four in five (80%) would participate in work meetings in virtual spaces versus existing video conferencing tools.
The study, which surveyed 15,000 business professionals across 15 countries found that more than half (57%) of Singaporean business professionals agree that virtual meetings provide greater convenience as compared to in-person meetings, while 44% believe virtual meetings can create an environment that is easier to collaborate. A third (38%) of those surveyed also believe that virtual meetings are less expensive than in-person meetings.
Furthermore, 71% of Singaporean business professionals can see the metaverse becoming part of existing work practices, and over half (56%) think their workplace will move away from static work settings to a more immersive/virtual reality-based environment within the next three years. Similarly, 88% of Singaporean business professionals would feel comfortable conducting more formal, HR-type work meetings in a virtual space.
Despite a growing appetite to utilize enhanced reality tools, survey respondents cited the inability to read in-person expressions and emotions (35%) and virtual meeting fatigue (31%) as key drawbacks to using virtual-collaboration tools at work.
When asked to name the top barriers to business adoption of virtual reality platforms, 39% of respondents in Singapore have concerns with the associated costs, 43% worry that the technology is not readily available, and 41% feel their organizations do not have the reliable network required to support these virtual experiences.
“While network reliability is currently seen as a barrier to working in the metaverse, Singapore has been gaining momentum in strengthening its digital infrastructure to support the development of a digital economy, especially with significant progress in making island-wide 5G coverage a reality,” commented Dion Leung, Regional Managing Director, Ciena ASEAN. “As businesses and employees here opt to retain their present hybrid work arrangements, enhanced reality tools will provide a whole new dimension for collaboration and innovation in the new world of work. But its exciting use cases can only be achieved with a robust and always-on underlying network.”
Notes to Editors
The research surveyed a total of 15,000 business professionals, including 1,000 professionals within each of the following countries/regions: UK, Germany, Norway, Middle East, Australia, Denmark, Japan, Colombia, India, U.S., Philippines, Mexico, Brazil, Indonesia and Singapore. The study was conducted by Censuswide on behalf of Ciena in June 2022.
Ciena (NYSE: CIEN) is a global leader in networking systems, services, and software. We build the most adaptive networks in the industry, enabling customers to anticipate and meet ever-increasing digital demands. For three-plus decades, Ciena has brought our humanity to our relentless pursuit of innovation. Prioritizing collaborative relationships with our customers, partners, and communities, we create flexible, open, and sustainable networks that better serve all users—today and into the future. For updates on Ciena, follow us on LinkedIn, Twitter, the Ciena Insights blog, or visit www.ciena.com.
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