HIGHLIGHTS
- The use of augmented reality and virtual reality technology is predicted to skyrocket.
- The metaverse ecology will benefit from 5G.
- According to the survey, gaming in India is still in its early stages.
According to a Credit Suisse report, the transition of the digital ecosystem to the metaverse, where a person feels immersed in a virtual world, will increase data usage by 20 times globally by 2032, and telecom operators Bharti Airtel and Reliance Jio are well positioned to benefit from the surge in India.
According to the paper, the metaverse has huge potential to increase screen time and bandwidth use.
"Internet traffic is already 80 percent video and is expanding at a CAGR of 30 percent (compound annual growth rate). Our team anticipates that even modest metaverse usage will drive a further 37 percent CAGR to 20x present data usage over the next decade "According to a paper published on Thursday.
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 ecosystem, the introduction of 6G will expand metaverse use cases, according to the paper.
It said that one of the areas where early use cases of metaverse are predicted is gaming.
According to the survey, gaming is in its early stages in India, and mobile gaming is being pushed by mobile phones as a result of the introduction of inexpensive smartphones and 4G broadband services.
"Given the poor fixed broadband penetration in India, mobile Internet remains the primary means of connecting 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 paper, India is one of the world's top countries in terms of the number of hours spent on mobile each day, but it has low penetration of fixed broadband compared to global peers, which will be critical to realising the full potential of the metaverse.
"Given India's low fixed broadband penetration, mobile Internet remains the primary way to access to the internet. The percentage of mobile gaming in online games is expected to rise in the future "According to the poll.
According to the report, India is one of the top nations in the world in terms of the number of hours spent on mobile each day, but it has low penetration of fixed broadband compared to global peers, which will be key to realising the metaverse's full potential.
