According to a Credit Suisse report, the shift of the digital environment to the Metaverse, where an individual feels immersed in a virtual environment, would boost data consumption by 20 times globally by 2032, and telecoms companies Bharti Airtel and Reliance are well-positioned to benefit from the surge in India. According to the report, the Metaverse has huge potential to increase screen time and bandwidth use.
"Internet traffic is already 80% video, and it is expanding at a 30% CAGR (compound annual growth rate). Our team anticipates that even modest Metaverse usage would generate a 37% CAGR to 20x present data usage over the next decade "According to a paper published on Thursday.
Augmented Reality and Virtual Reality are projected to grow because these are the technologies essential for accessing the Metaverse, augmented reality and virtual reality are projected to grow. While 5G will sustain the Metaverse environment, the introduction of 6G will expand Metaverse use cases, according to the report.
It said that one of the areas where initial use scenarios of Metaverse are predicted is gaming. According to the survey, gaming is in its early stages in India, and mobile gaming is now being pushed by mobile phones as a result of the introduction of inexpensive smartphones and 4G broadband services.
"Given the low fixed broadband penetration, mobile internet remains the primary way for Indian people to connect to the internet. The proportion of mobile gaming in online games is predicted to grow in the future "According to the survey.
According to the research, India is one of the top countries in the world in terms of the number of time spent on mobile per day, but it has a limited presence of fixed broadband compared to its global peers, which will be critical to realizing the full potential of the Metaverse.
"While it is too early to estimate the impact of Metaverse on Indian telcos' revenues," the research added, "we believe Bharti Airtel (with 17% of sales from a fixed-line) and Jio are well-positioned to gain from a boom in data consumption led by Metaverse in the latter part of this decade."
According to the estimate, fixed broadband consumption in India would rise to 9% in the current fiscal year from 6.8 percent in FY20.
"We predict penetration to expand further to 12.6% by FY25E, driven by ongoing data demand and telcos' desire to boost utilization rate of existing fiber infrastructure," according to the research.
Metaverse is a network that connects individuals to live in 3D Virtual Reality space. The term 'Metaverse' is made up of two words: 'Meta+Verse,' where 'META' is taken from a Greek word that is a prefix that signifies 'Beyond,' and 'VERSE' is derived from 'Universe.' The word promises to live in an artificial world built on cutting-edge technology that connects people in a 3D Virtual Reality area. In the 3D virtual reality environment, individuals may connect with their friends, attend concerts, play games, and witness many typical daily life events in addition to actual life. Our technology is based on a scientific hypothesis that asserts there are several worlds on this planet.