Metaverse Technology Will Help Automotive Industry Next Year. According to the US multinational corporation, automotive industries will soon begin to incorporate a metaverse twist into their retail and industrial operations in order to increase the element of appeal for the next generation of companies and customers. Metaverse technology revolves around making online experiences more immersive and interactive, allowing humans to exist, work, and interact as digital avatars, and companies such as Meta, Alphabet, and Microsoft have all made investments in this sector.
“Full-fidelity, real-time car configurators, 3D simulations of vehicles, demonstrations in augmented reality and virtual test drives all help bring the vehicle to the customer,” Nvidia said in an official post.
The metaverse is expected to increase the level of monitoring of the vehicle production process by automotive players. This would allow them to make changes and modifications before it was too late.
Giving traditional operations a metaverse flavour, on the other hand, could deepen the relationship between clients and businesses from the comfort of their respective homes.
“In addition to gaming, advances in AI and in-vehicle compute are enabling a range of new infotainment technologies, including digital assistants, occupant monitoring, AV visualisation, video conferencing, and more,” the blog continued.
According to research reports, the market opportunity for the metaverse could reach $800 billion (roughly Rs. 59,58,700 crore) over the next two years.
Metaverse technology has received attention and funding from all over the world, as well as from numerous corporations.
Animoca Brands, the parent company of The Sandbox metaverse, announced earlier this month that it intends to launch a $2 billion (roughly Rs. 16,260 crores) mega-fund dedicated to the metaverse business.
Seoul’s Ministry of Science, ICT, and Future Planning allocated KRW 223.7 billion (roughly Rs. 1,400 crores) in February to the development of a national metaverse project.
Other technology companies, like Nvidia, are willing to place large bets on the technology.
Qualcomm set aside $100 million (roughly Rs. 760 crores) in March for the Snapdragon Metaverse Fund, with the goal of accelerating the development of Extended Reality technology.
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