In the ultimate vision of the end of days, the world experiences a dramatic shift in global power. The dominance and authority long held by the nations of the earth will finally transition to the Israelites. The primary approach among commentators is that the total kingdom, government, and greatness of all nations under heaven will be handed over to them. According to one perspective, this monumental shift parallels an earlier vision of a human figure, which serves as a symbol for the Israelite nation led by the Messiah [מלבי״ם].
This transfer of global authority takes place during the collapse of the fourth kingdom, representing the current era of exile that has splintered into various nations. The final power to rise in this prophetic vision likely represents the nation of Gog and Magog, which is destined to wage war against the Israelites. Ultimately, God will humble them, stripping them of their power and granting global leadership to the Israelites.
The duration of the Israelites' oppression under foreign rule is measured in a specific span of time. This period is calculated so that a unit of "times" equals two of God's days, amounting to two thousand years. An additional "half a time" represents a portion of the subsequent era, adding roughly three hundred years. In total, this results in two thousand three hundred years of exile before the final promise is realized [יוסף אבן יחיא].
Once established, this new kingdom will be eternal. All other earthly rulers will submit to it. The surrounding nations will not merely offer their service; they will become completely obedient, carefully listening to and executing every command issued to them [רש״י, מצודת דוד].