A report published by Credit Suisse revealed that the metaverse revolution will hike the average data usage to 20 times around the globe by 2032, and to gain benefit from this surge in India, two leading telecom operators Airtel and Reliance Jio already started preparation.
Metaverse is the sort of 3D virtual world with real-life experience that includes different components such as virtual reality, augmented reality, and devices.
To increase user experience, uninterrupted connectivity with the network is the key requirement for the metaverse. There are tons of metaverse developers that are actively working to bring the virtual reality concept to life. Furthermore, according to a recent report, spending hours on the metaverse will skyrocket in the coming years.
“While it is too early to determine the impact of metaverse on Indian telcos’ revenues, we believe Bharti Airtel (with 17 percent of revenues from fixed line) and Jio are well placed to benefit from surge in data usage driven by metaverse in the latter half of this decade,” the report said.
In Budget 2022, the country has already defined outlines for 5G network service by increasing bandwidth.
However, the report indicates that the 5G network will support metaverse, while 6G will have broader metaverse use cases. On the initial day of the metaverse, the gaming segments could have driven more traffic on the network.
In recent days, Indian mobile users soared in an exponential manner on online gaming. Reliance Jio is the most credited platform that brought the internet revolution to the country after rolling out 4G network service at a very cheap cost.
“Mobile Internet remains the key medium for Indian users to go online, given relatively low fixed broadband penetration. The share of mobile gaming in online games is expected to increase in future,” the report said.
However, India is still lacking in providing fixed broadband compared to global competitors, which will define the metaverse future in the country.
“Internet traffic is already 80 percent video and has been growing at a 30 percent CAGR (compound annual growth rate). Our team projects that even modest metaverse usage could drive a further 37 percent CAGR in the next decade to 20x current data usage,” the report said on Thursday.
The report envisages fixed broadband penetration in India to soar 9% this year in comparison to 2020 with 6.8%.
Apart from network service, Reliance Jio recently acquired a 25% stake in Two Platforms, a metaverse developer.
