Metaverse will prove to be a major data guzzler, according to the latest Credit Suisse report. Credit Suisse has claimed in its report that Metaverse will increase the global data usage by 20 times in next ten years. The report has further claimed that the exponential data usage caused by Metaverse will bode well for the future of Indian telecom companies.
“Internet traffic is already 80 percent video and has been increasing at 30% compound annual growth rate (CAGR). Our team projects that even modest Metaverse usage could drive a further 37% CAGR in next decade to 20X current usage,” the report said.
The upcoming 5G technology will support the growth of Metaverse ecosystem and the emergence of 6G will give a further acceleration to Metaverse while noting that gaming will be among the first segment to adapt the virtual world of Metaverse.
However, the Credit Suisse report explicitly mentioned that it is still too early to precisely decipher the impact of metaverse on the revenue of the two incumbent Indian telecom players – Bharati Airtel and Reliance Jio. But at the same time, the report clearly hinted that Metaverse will bring ample growth opportunities for the telecom companies.
Metaverse has become the buzz word ever since Facebook changed its name to ‘Meta. ‘The change in brand name is an indication that the social media giant is on its way to become a full-time Metaverse company.
If Facebook’s co-founder and CEO Mark Zuckerberg is to be believed then in distant future Metaverse will become an integral part of our life. A Metaverse boom is likely to cause explosive growth in the sales of AR and VR headsets.
Metaverse can be defined as a immersive virtual reality world where we can virtually live a parallel life and possibly do everything that we do in a real life – from making new friends, finding a job, getting married and lot of other things.
Metaverse has already caused polarizing views, with many calling it as a crazy experiment and human being’s imminent struggle to adapt to the virtual world. On other hand, several other tech experts have described Metaverse as the next big technology but it may take many more years for it to blossom into a mainstream technology.