Metaverse – The future of Automotive

The next iteration of the internet where users can fully immerse themselves in a virtual environment that closely resembles Metaverse. Immersive technology can help automotive industry to diversify and expand revenue systems, increase brand loyalty, enhance customer experience, and optimize production.

What is Metaverse in the automotive industry?

Metaverse in the automotive sector is the integration of virtual reality (VR), augmented reality (AR), mixed reality (MR), and other immersive technologies into the automobile ecosystem. It enables users to experience, interact, and customize vehicles, services, and experiences through virtual representations.

Metaverse is completely revolutionizing the way we interact with cars and technology and with each other in the automotive industry. Without adopting multiple engineering and mathematical model changes, Metaverse plays a significant role in bringing out concept products quickly and intuitively.

Metaverse for automotive industry market growth

The market value for Metaverse in the automotive industry was valued at $ 5.3 billion in 2021 and it is anticipated to reach $ 116.5 billion by 2030 with a growth in CAGR of more than 41.46% from 2022 to 2030. India and other rapidly expanding regions are quickly catching up, providing chances for technology conglomerates.

How Metaverse is impacting automotive industry?

Virtual Showrooms:

Automakers and dealers can set up online showrooms where clients can browse a variety of models, personalize features, and do virtual test drives all from the comfort of their homes. This not only increases consumer convenience but also lessens the demand for inventory and physical space.

Product Customization:

Customers can easily customize the cars with Metaverse. They can view several colour schemes, interior layouts, and add-on features via VR before making a purchasing choice.

Virtual Assistance and Training:

It is used by automotive businesses to assist clients in the buying process or with problem-solving in real time. Virtual training platforms can be created to instruct staff members, mechanics, and technicians.

Car Maintenance and Repairs:

Auto mechanics and service professionals can access digital manuals and 3D models to help with upkeep and repairs. This can speed up the repair process and reduce the chances of errors.

Virtual Racing:

Automobile fans and gamers alike can engage with their favourite automobile models in a virtual environment through virtual racing competitions and gaming activities.

Collaborative Design and Innovation:

Automakers can use the Metaverse to support team-based design and innovation processes. Working collaboratively in shared virtual environments allows engineers, designers, and other stakeholders to refine concepts before going to actual prototypes.

Data Analytics:

Automobile manufacturers can gather useful information about consumer preferences, interactions, and behaviour through the Metaverse. Companies can use the analysis of this data to assist them make data-driven decisions by learning more about consumer preferences and market trends.

Use cases of Metaverse in the Automotive industry

BMW

BMW iX1 Metaverse offers the chance to explore the realm of dreams because its slogan is Sheer Driving Pleasure. The new iX1 allows users to virtually immerse themselves in three bizarre dreams where they can walk around, find wonders, and make amazing experiences. BMW has leveraged Omniverse to keep its Regensburg plant’s simulation as accurate as possible.

Nissan

It is making the rides more thrilling by developing concepts for both augmented reality and virtual reality. They are utilizing invisible-to-visible (I2V) technology that works with 3D view and augmented reality.

Audi

Holoride, a startup that has started providing virtual rides, has received support from Audi. The CEO of Holoride, Nils Wollny, wants to establish the business as a Metaverse transportation provider.

Volkswagen

It has launched an integrated Metaverse campaign to highlight the security and intelligence characteristics of its newest Polo model, the IQ.DRIVE. ‘Game On’ merges the realm of online gaming with reality by bringing interactive storytelling to life through a treasure hunt for hidden NFTs that are concealed and waiting to be found by fans on social media.

Future of Automotive Industry

Metaverse in the automotive sector is set to reshape the way we experience and interact with cars. Automotive manufactures may improve consumer interaction, optimize processes, and stimulate innovation by fusing virtual and real worlds.

Metaverse will soon gain acceptance as more players enter it to establish virtual businesses, NFTs, and showrooms. Players that join the Metaverse today are in a good position to take advantage of possibilities that arise.

Sapizon Technologies is a leading automotive Metaverse solution company, delivering some of the most engaging Metaverse solutions to build next  generation vehicles.