Connect with us

Latest

Can India’s tech companies make it the “Metaverse Leader”?

Published

on

The effort by man to escape reality has given us many innovations. And the most recent one is the “Metaverse” or the “Virtual Reality”. The Metaverse sector is one of the fastest-growing sectors of the decade.

All the major companies want a share in this booming market and have been investing money and resources into it. Indian companies are also not left behind. As the world is learning about this new fancy looking term, it has also created a demand for engineers and tech people with suitable skills. Indian companies are providing Metaverse development services to almost every sector starting from manufacturing, healthcare, retail, etc.

According to tech analyst Vaishnavi Desai “The new space provides huge marketing potential that it presents in the form of virtual stores, live shopping, and virtual product launches, it is perhaps time for us to think of more novel opportunities that this space might provide us with.”

Various cities across the country, such as Delhi, Pune, Bangalore, Ahmedabad, Mumbai, have many Metaverse development companies, including Hyperlink Infosystems, HCL Technologies, Infosys, Capgemini India, Zensar Technologies, Tech Mahindra, Wipro, and TCS are the major Metaverse companies in India.

Since 2015, India’s ranking in the global innovation index has risen nearly 40 places, making it the 46th most innovative country in the world. The Indian entrepreneurship culture is also flourishing, and it has recently experienced significant growth. Last year India was just behind China and USA, with 42 of its startups becoming a unicorn.

India today is one of the youngest countries with more than 62 per cent of the population in the working-age group and more than 54 per cent of the total population below 25 years of age. This makes it a favourable market for the Metaverse industry. According to data, India’s video streaming consumption has increased substantially in the last few years and it is expected to surge to 7 billion by 2026.

The government has also been providing incentives and funds to boost the development of the companies in the sector. According to the budget 2022, India will aim to achieve a digital economy worth up to $1 trillion. The country has been making its mark in the global digital landscape by steps like introducing a digital currency and investing in lithium-ion battery production units.

Read more brand NewsStories, and market analysis on various industries from automobiles to fashion at Brandz Watch | Follow us on Twitter & Youtube

Zomato Faces Backlash Over New Pure Veg Fleet: Embraces 'Red Reality'
Analysis3 weeks ago

Zomato Faces Backlash Over New Pure Veg Fleet: Embraces ‘Red Reality’

Apple Google AI Deal: 21st Century Tech Collab to Integrate Gemini-Like Features in iOS
Analysis3 weeks ago

Apple Google AI Deal: 21st Century Tech Collab to Integrate Gemini-Like Features in iOS
With this deal, Google will be able to tap into Apple’s 1.4 billion active user base worldwide and expand the reach of its AI, Gemini, to a new stratum of users.

The 'Paramount' Sale of Viacom18's 13.01% Stake to Reliance Establishes Mukesh Ambani as Asia's Media Mogul
Analysis1 month ago

The ‘Paramount’ Sale of Viacom18’s 13.01% Stake to Reliance Establishes Mukesh Ambani as Asia’s Media Mogul
Paramount Global has been aiming to improve its balance sheet after ending last financial year with a long-standing debt of $15 billion.

Adani-Qualcomm Meeting Sends Sparks Across the Indian Tech Ecosystem
Latest1 month ago

Adani-Qualcomm Meeting Sends Sparks Across the Indian Tech Ecosystem

91Club offers a unique blend of entertainment and monetary rewards, making it a preferred choice for 2 million players.
Latest1 month ago

91Club: The Gaming Platform To Earn Real Money
Play and Win: 91Club, Where Gaming Means Real Money

Daman Game is a platform offering many games designed to entertain players of all ages It offers you a chance to win money by playing games.
Latest1 month ago

Daman Game: Where Fun Meets Real Rewards
Game On with Daman: Where Entertainment Pays Off!

TATA's Tech Revolution: Venturing into Chipmaking
Analysis1 month ago

TATA’s Tech Revolution: Venturing into Chipmaking
TATA Prepares to Venture into Chipmaking Business: Becoming the Herald of Change and Development in the Indian Tech Ecosystem

BharatGPT’s Hanooman: Desi Artificial Intelligence Ready For March Public Launch
Latest2 months ago

BharatGPT’s Hanooman: Desi Artificial Intelligence Ready For March Public Launch
The Indian tech scene is about to witness a dramatic makeover as BharaGPT prepares the public launch of the ‘Made In India’ AI, Hanooman.

OpenAI Launches SORA, its Text-to-Video Generator Model
Latest2 months ago

OpenAI Launches SORA, its Text-to-Video Generator Model

Gully Labs Story
Latest3 months ago

How a Homegrown Indian Sneaker Brand, Gully Labs is Embracing Indianism
Gully Labs: Redefining the sneaker culture in India

Topics

Editor's Pick

0
Would love your thoughts, please comment.x
()
x