According to Nvidia, the Metaverse technology should drive the upcoming trends in the automotive industry from the next year 2023. The US multinational has claimed that the auto industry will soon begin to give its retail and industrial operations a metaverse twist to increase appeal to the next generation of businesses and customers. Metaverse technology is about making more immersive and interactive online experiences where people can exist, work and meet as digital avatars, and companies like Meta, Alphabet and Microsoft have all invested in this sector.
“Real-time, true-to-life car configurators, 3D vehicle simulations, augmented reality demonstrations, and virtual test drives all contribute to bringing the vehicle to the customer,” says Nvidia said in an official post.
With the metaverseAutomotive stakeholders are expected to increase the level of oversight of the vehicle production process. This would allow them to make changes and modifications before it’s too late.
On the other hand, adding a metaverse flavor to traditional operations could deepen the relationship between customers and business from the comfort of their own home.
“In addition to gaming, advances in AI and computers in vehicles are enabling a range of new infotainment technologies, including digital assistants, occupant monitoring, AV visualization, video conferencing and more,” the blog continues.
The market opportunity for the Metaverse could reach $800 billion over the next two years recommend estimate.
The Metaverse technology has received recognition and funding from several parts of the world and from many companies.
earlier this month, Animoca Marksthe parent company of The Sandbox Metaverse, is planning to launch a US$2 billion (approx. Rs.16,260 billion) mega-fund dedicated to the Metaverse business.
in February Seoul’s Ministry of Science, ICT and Future Planning of South Korea allocated KRW 223.7 billion (approx. Rs. 1,400 crore) for the development of a national Metaverse project.
As NVIDIAother technology companies are also ready to make big bets on the technology.
in March, chip maker Qualcomm set aside a US$100 million (around Rs.7.60 million) fund called the Snapdragon Metaverse Fund in hopes of accelerating the development of extended reality technology.
