India and the industrial metaverse

Technology is not just evolving rapidly but also combining to create new ecosystems. The industrial metaverse as emerged as one such fascinating ecosystem. A collection of uniquely configured technologies is allowing immersive digital experiences not just for consumers but for producers too. 
 

In simple terms, a metaverse is a digital or virtual version of the real world. These exist in many different parts — from a gaming console which replicates a car race to a virtual reality (VR) headset where a person can walk around in a digital landscape. 
 

A metaverse happens when many such parts are combined for a specific action or activity. For example, a 3D version of a machine can be seen on a computer. With a VR headset, one can walk around it. In a metaverse situation, not just the machine but an entire factory can be created digitally for walkthroughs and production planning. 
 

The images inside the metaverse can be interactive and powered by artificial intelligence (AI) and edge computing, while being connected by 5G speeds.
 

A metaverse industry report published by Strategic Market Research says that its global market value is $47.48 billion in 2022. This is expected to surpass $678.80 billion in value by 2030. This market is a combination of hardware and software, which are applied in a variety of ways. 
 

“The increasing emphasis on connecting digital and physical worlds via the internet is the major factor spearheading the growth of the Global Metaverse Market,” the report says. “The rise of blockchain and digital assets is expected to propel the Global Metaverse Market forward. With the advent of a new, decentralised internet, there will be a greater emphasis on blockchain technology for the administration of transparent data.”
 

The applications are tremendous. The National Aeronautics and Space Administration (NASA) revealed earlier this year that it has conducted a “holoportation” -- teleporting a hologram. “Using the Microsoft Hololens Kinect camera and a personal computer with custom software from Aexa, ESA (European Space Agency) astronaut Thomas Pesquet had a two-way conversation with live images of (two doctors) in the middle of the International Space Station. This was the first holoportation handshake from Earth in space,” NASA said. 
 

The deployment of Holoportation “allows users to see, hear, and interact with remote participants in 3D as if they are actually present in the same physical space.”
 

This technology has been experimented with for some years and now is reaching maturity while triggering opportunities for various applications. After such experiments it is not difficult to imagine doctors advising patients. Or engineers resolving problems in remote locations. 
 

Creating digital versions also helps companies reduce quality issues in manufacturing. Boeing and Airbus have declared that they will design the next generation of their airplanes in digital metaverse. This means they will create and simulate every aspect of designing, manufacturing and testing digitally ahead of the actual production. 
 

In India, companies like Tech Mahindra and Infosys have launched industrial metaverse solutions for domestic and global businesses. “Tech Mahindra is geared up to harness the power of Metaverse to bring imagination to life and offer futuristic experiences NOW. [The] network of the future, 5G, will form the backbone to provide enhanced experience to customers in the metaverse universe,” the company says. 
 

With the roll-out of 5G in India, metaverse applications will accelerate across the industrial spectrum. High-speed connectivity and low latency is critical for any real-time application and usage. Companies using metaverse-based solutions will also have to change their internal business and manufacturing processes. If many of the design and quality check issues are avoided with digital design, many physical steps may become redundant.