In India, nearly 70% of executives plan to integrate the Metaverse into their organizational activities, and 63% of companies actively engaged in the Metaverse will fully integrate the Metaverse into their organizational activities within a year. said. to PwC India.

In this report, the metaverse is defined as artificial intelligence (AI), low-code/no-code platforms, blockchain, cybernetics, 5G, edge computing, digital identity models, communities, power platforms, augmented reality (AR), virtual reality ( VR).

Over 60% of business leaders surveyed by PwC India asserted that they had a detailed or thorough understanding of the Metaverse, with 48% saying they had a good understanding of the Metaverse. its advantages.

growth opportunity

Of the companies surveyed, 22% were telecoms, media and technology (TMT), 19% were FS, 16% were pharmaceuticals and healthcare, 15% were retailers and consumers, 12% were industrial products, and 9% were governments. , and 7% by Cent Automotive and Edtech. 79% of TMT departments say they have a detailed or very good understanding of this area.

“The opportunities in the metaverse are enormous and are relevant across genders, geographies and generations, so we anticipate exponential growth. Consumers are open to adopting new technologies and businesses are leveraging the metaverse.” We are already seeing brands experimenting with the metaverse to delight their customers,” said PwC India’s Digital and Emerging Technology Partner Ashootosh Chand said:

In India, businesses are most likely to create virtual content that their customers engage with in the metaverse (17%), with 13% saying they want to offer onboarding and training through the metaverse, and 11% saying they want to use the metaverse. I’m here. A metaverse for creating communities.

Metaverse integration

In terms of timelines, 25% of Indian respondents said the Metaverse plan would be fully integrated into activities within a year, and 47% said it would take place in 2-3 years.

In the US, 38% of respondents said they plan to incorporate the metaverse into their business operations within a year. “This is largely due to a large online gaming market combined with a more developed technological infrastructure and early adoption of technology that has helped build momentum and enthusiasm among companies around the potential of the Metaverse in the United States. It’s for.”

Additionally, companies around the world are beginning to seek partnerships with key metaverse technology players to explore possibilities, business opportunities, and pilot projects.

However, India’s metaverse ecosystem is still in its early stages. Businesses are gearing up for the opportunity, and technology companies are still building their solution stacks. It is estimated that it will be another year or two before companies start rolling out large projects in India, with 4% of US respondents and 7% of Indian respondents saying that he I answer that it will take more than a year. Adopt the company’s Metaverse plan.