According to Nvidia, Metaverse technology is reportedly going to introduce upcoming trends in the automotive industry, in the next year. It was claimed by the US multinational firm that the automotive industries will soon start adding a twist of metaverse into their industrial operations and retails.
It will be done in order to increase the appeal element for the customers and companies of the next generations. This metaverse technology will pertain to increasing immersive experience and more interactivity, wherein humans can exist, meet and work as their digital avatars and Meta, Microsoft, Alphabet and other companies can make investments in this sector.
In an official post, Nvidia mentioned that “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.” It was further added in the blog that “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.”
Funding and recognition are being received from different parts of the world for the metaverse technology. Companies are also doing the same. The parent body of The Sandbox metaverse, Animoca Brands, said that a mega-fund of $2 billion is being planned for the metaverse business. Back in February, KRW 223.7 billion (around Rs 1,400 crore) was put towards the development of a national metaverse project by Seoul’s Ministry of Science, ICT and Future Planning of South Korea. A fund of $100 million (around Rs 760 crore) under the name of Snapdragon Metaverse Fund was given for the development of Extended Reality technology by chipmaker Qualcomm.
It is expected that it will increase the level of monitoring for the vehicle production process for automotive users. Also, adding metaverse will deepen relationships between companies and clients just by sitting in their homes and improve traditional operations. Around $800 billion (around Rs 59,58,700 crore) market value is being expected for the opportunity of metaverse in the next two years, says research reports.
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