The National Association of Software and Services Companies ( NASSCOM ) has released a study with McKinsey & Company as knowledge partners, titled " Metaverse – Prepare to win". The report delves into key trends in adoption, potential applications of the Metaverse, and opportunities for service providers to take an active role in this exciting new development. While the term ‘Metaverse’ has existed for nearly two decades, the novel internet avatar has seen an accelerated development driven by technology revolution, consumer readiness and the rise of consumer-led marketing. Significant PE/VC investments and strong M&A commitments have announced in H1 of 2022, amounting to > $120 Bn value (based on estimates between Jan-May’22). What is Metaverse Metaverse has many interpretations. However, with growing consensus about the defining characteristics of this technology, Metaverse can be defined as a persistent and immersive virtual world experience with … [Read more...] about metaverse: Nasscom releases report on Metaverse, aims to track potential and path ahead
Nasscom
Metaverse: Metaverse adoption at mass level likely 8-10 years away: Nasscom report
While at-scale Metaverse adoption is likely to be 8-10 years away, the space is witnessing strong early adoption in India, a Nasscom report has said. Significant private equity/venture capital investments and strong merger and acquisition commitments were announced in the first half of 2022 in the metaverse space, amounting to more than $120 billion in value. Now, enterprises are starting to implement metaverse use-cases across the value chain. Read Also Samsung, Huawei, LG lead metaverse patent race Sony, Manchester City building a metaverse By 2030, sectors such as retail, manufacturing, media, healthcare, telecom, professional services and banking are likely to be major spend drivers of enterprise use cases in the metaverse, according to the study by Nasscom and McKinsey & Company. "We are beginning to see a more nuanced and thoughtful approach to designing an immersive experience whether it is creating virtualized … [Read more...] about Metaverse: Metaverse adoption at mass level likely 8-10 years away: Nasscom report