An investigation of metaverse adoption for SMEs in Bangkok through the Technology-Organization Environment (TOE) framework
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Abstract
The adoption of Metaverse technologies has gained increasing attention as digital platforms become more prevalent in business and social interaction. This study investigates the determinants of Metaverse adoption intention among small and medium-sized enterprises (SMEs) in Bangkok, focusing on technological, organizational, and environmental factors. Data were collected from 240 SME participants using purposive sampling through structured questionnaires. Confirmatory Factor Analysis (CFA) verified the reliability and validity of the measurement model, while Structural Equation Modeling (SEM) examined the relationships among latent constructs. Results indicate that technological factors, including system readiness, security, and visual appeal, exert the strongest positive influence on adoption intention. Organizational factors, such as reduced anxiety, collective awareness, and word-of-mouth, also significantly affect adoption, highlighting the importance of social and organizational support within SMEs. Environmental factors, including technology investments, social influence, and vendor support, further positively impact adoption intention, emphasizing the role of external facilitation. The full SEM model demonstrated good fit, with χ²/df = 2.25, CFI = 0.94, TLI = 0.93, RMSEA = 0.059, and SRMR = 0.048, confirming that the proposed model adequately represents the relationships among constructs. This study contributes empirical evidence on multidimensional determinants of Metaverse adoption within SMEs, supporting the Technology–Organization–Environment (TOE) framework. Practically, the findings provide guidance for SME managers and platform developers to enhance technological readiness, foster organizational support, and strengthen environmental facilitation to encourage adoption. Future research may explore moderating and mediating variables, cross-cultural comparisons, and longitudinal adoption patterns to gain deeper insights into engagement with immersive digital platforms.
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