Additionally, 63% of companies that are actively engaged with the metaverse say they will fully embed the metaverse in their organisational activities within a year, said the report titled ‘Our Take – Embracing the Metaverse’.
More than 60% of the business leaders surveyed affirmed that they have a detailed or good understanding of the metaverse.
The survey conducted early this year asked respondents – nearly 150 in number – across different regions of India for their title/role, age group, their gender, the sector their company represented, and their company turnover, PwC India said.
“The metaverse opportunity is enormous and we expect exponential growth because it is relevant across genders, geographies, and generations. Consumers are open to adopting new technologies and companies are investing heavily in the required infrastructure to leverage the metaverse,” said Ashootosh Chand, Partner – Digital and Emerging Technologies, PwC India.
The report further said globally, businesses have started exploring partnerships with some of the leading players in the metaverse to explore business opportunities.
Discover the stories of your interest
However, the metaverse ecosystem in India is still at a nascent stage. “25% of India respondents say that their metaverse plans will be fully embedded in their activities within a year, while 47% say that this will take place in 2-3 years,” it said.
Sudipta Ghosh, Partner and Leader – Data & Analytics, PwC India said, “Metaverse allows organisations to be really innovative about how they can meaningfully engage with the customers, employees and the broader ecosystem.
As per the report, 36% of those surveyed said cybersecurity poses the biggest risk for businesses in India and 28% respondents felt the technological limitations could pose a challenge.
In the US as well, cybersecurity tops the list, followed by privacy risks, which is the third-most important risk area for India respondents.
