A metaverse is a vast interconnected network of 3D virtual worlds, where real-world activities can be done in the virtual world via an avatar, presenting a grand business opportunity.
Top tech brands across the world have since dipped their toes in the market of the metaverse. The world’s tech giants and organizations are keen on cashing in. Therefore, it is rather clear why the Indian tech giants are approaching the metaverse.
The Metaverse offers $1 trillion markets, according to JP Morgan, the global investment bank. As per the Goldman Sachs report, the whole market opportunity could be as high as $12.46 Tn globally over the next two decades. So most of the companies would like to be part of the gold rush.
Indian companies are providing metaverse development services to businesses around the globe for every possible sector such as manufacturing, retail, healthcare to every existing one in a pocket-friendly way.
Tata Consultancy Services (TCS), Infosys, and Tech Mahindra are big India’s largest IT brands have announced their ideas and interpretations of the metaverse. Recently, Infosys has initiated Metaverse Foundry, Similarly, TCS, also, has connected the bandwagon and Tech Mahindra has launched TechMVerse, to drive for metaverse-based commerce solutions
The Infosys Metaverse
Infosys announced to launch the Metaverse Foundry, the Australian open 2021 featured an extensive digital-physical shop powered by Infosys’ Metaverse Foundry. Where customers could shop for goods and products like caps, racquets, and more in the metaverse-based shop.
Infosys has planned seven services under metaverses such as 5G and Metaverse Services, Digital Twin, Sustainability Services, XR Consulting, Media Services, Blockchain Consulting And Contact Centre, and Unified Communications Services. Along with this, the two metaverse solutions are Smart Fault Tree and Plant Operation Management.
Tech Mahindra’s TechMVerse
Tech Mahindra has marked its knock into the metaverse with the start of the TechMVerse which will use 5G resources to deliver mesmerizing experiences for its customers. The company has revealed four use cases with a specific principle.
The first one is the Dealer Verse, which is a metaverse-based car dealership. The second one is Middlemist, a dedicated NFT marketplace. The third one is the MetaBank – a virtual bank. The fourth one is the gaming hub within the metaverse.
Tata Consultancy Services (TCS)
TCS is working on altering the shopping scenario in India. While the tech giant’s shopping metaverse is yet in the development stage, TCS has brought out various services and products under its workplace experience.
The products and services are intended at improving the workplace understanding for the workforce working remotely. The vision 25:25 means only 25% of the workforce in the office with 25% of their time in a year in the office, this set of metaverse-based applications make sense.
Presently, billions of dollars are flowing into metaverse space. Therefore, governments around the world are likely to face the challenges of suitable policies in the future. No doubt, the metaverse is real and is likely to stay here.
Published By : Revathy G Sanal
Edited By : Subbuthai Padma
