Metaverse — the most used tech buzzword of the year — has failed to gain the attention of the masses to date. Will it become useful in our daily lives in 2023 as companies spend billions on virtual reality/augmented reality (VR-AR) related technologies?
The metaverse market size reached a value of $22.79 billion in 2021, according to
“As India gears up to become among the world’s fastest growing economies in 2023, the months to come will be crucial towards setting the stage for our long term success,” Prativa Mohapatra, Vice President and Managing Director, Adobe India, told IANS.
2022 sparked mega trends like the cryptocurrency boom and bust, increasing examples of the power of Generative AI, and the emergence of incredible use cases on what could be metaverse’s long-term journey to making real impact in the world. “With such fast-paced trends governing with the dynamics of the industry and customer experiences in 2023, businesses will need to continually adapt to changes, evolve strategies, and be laser focused on looking around the corner to drive innovations that can create an impact, Mohapatra added.
Various players in the technology sector, including those manufacturing semiconductors, components, and application software, have started leveraging metaverse.
“Enterprise Metaverse will continue to gain traction in 2023. Enterprises will seek to build efficiency gains and battle unsustainable black swan events,” Prabhu Ram, Head-Industry Intelligence Group, CMR, told IANS.
With digital twins, for instance, Indian manufacturing enterprises have been able to monitor, map and manage supply chain and production plants remotely, he added.
Meta in November had announced that it is supporting industry body
The National e-Governance Division, an initiative of the Ministry of Electronics & Information Technology (MeitY), will be the technical partner to the programme. “The vision for India can only be achieved when the young developers and start-ups, including, contribute to enabling future technologies,” said
In 2021, Meta partnered with the