Bhoomika Singh
According to recent research released on Wednesday, Indian business executives are embracing the metaverse trend as it gains traction in the global business scene, with nearly 70 per cent of them aiming to incorporate it into their organisational activities.
Approximately 63 per cent of businesses actively using the metaverse, according to international consulting company PwC, plan to fully incorporate it into their organisational operations within a year.
“The metaverse opportunity is enormous and we expect exponential growth because it is relevant across genders, geographies, and generations. Consumers are open to adopting new technologies and companies are investing heavily in the required infrastructure to leverage the metaverse,” said Ashootosh Chand, Partner — Digital and Emerging Technologies, PwC India.
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Furthermore, the study revealed that more than 60 per cent of company executives said they comprehend the metaverse in detail or well.
The organisations surveyed include 22 per cent from the telecom, media, and technology (TMT) sector, followed by 19 per cent from financial services (FS), 16 per cent from pharmaceutical and healthcare, 15 per cent from retail and consumer goods, 11 per cent from industrial products, 9 per cent from the government, and 7 per cent from the automotive and edtech sectors.
According to the report, about 39 per cent of Indian business executives believe that their company will use the metaverse as a social platform.
Nine percent think it’s the next iteration of the internet, while 20 per cent think it will transform business and usher in a massive gig/creator economy.
However, some people are still unsure; 24 per cent aren’t sure how they feel about the effects of the metaverse.
