70% of Indian companies say they plan to use metaverses

In addition, 63% of firms actively working with digital worlds announced the full implementation of this technology within a year

08.05.2023 - 09:20

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2 min

What’s new? Nearly 70% of CEOs in India plan to integrate metaverses into their organizational operations, according to a report by consulting firm PricewaterhouseCoopers (PwC). In addition, 63% of firms actively working with virtual worlds announced the full implementation of this technology within a year. PwC India partner Ashutosh Chand expects exponential growth in the adoption of metaverses, as companies are already investing in related infrastructure and the technology itself is “relevant across genders, geographies, and generations.”

PwC’s report

What other data are known? More than 60% of the CEOs surveyed confirmed that they have a detailed or good understanding of metaverses. These included representatives from media and communications (22%), pharmaceuticals and healthcare (16%), retail (15%), and government agencies (9%).

25% of respondents believe that metaverses will be fully implemented in their companies within 2023, while 47% say it will happen in 2-3 years.

39% of respondents believe metaverses will become a social platform for their companies. 20% believe technology will revolutionize business by creating a separate sector of the economy. 9% believe the technology will be the next incarnation of the Internet. At the same time, 24% have not formed an idea of the implications of the adoption of metaverses.

17% of Indian companies are likely to create virtual content for customers based on the metaverse.13% said they would like to conduct training through metaverses, and 11% would like to use them to create communities.

In addition, 36% said that cybersecurity issues pose the biggest risk to businesses in India, and 28% of respondents believe technological limitations may pose a problem.

Earlier, Interpol announced its intention to monitor crime in metaverses. And the EU stated the need for antitrust regulation of the sector.

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