Latest News | TechM to Work with 1,200 Clients for Metaverse, Hire 1,000 Engineers in a Year

New Delhi, Feb 28 (PTI) Tech Mahindra plans to work with 1,200 clients for its newly-launched metaverse business and deploy about 1,000 engineers in about a year for the development of technology, a top official of the company said on Monday.

The metaverse division of the company will work on developing and supporting immersive virtual environments for users in the coming days like live interaction with a 3D avatar of a person in real time, experience of automobiles interiors, playing games etc.

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"Tech Mahindra will work with its 1200 clients to help them enter the metaverse. We will leverage our Makers Lab in Pune and Hyderabad to train 1,000 engineers," Tech Mahindra MD and CEO CP Gurnani said while sharing details of the project.

He said that 1,000 engineers will be deployed at the metaverse experience centre in Hyderabad in about a year.

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Metaverse is a fast-evolving digital environment where individuals can interact with each other in a 3D virtual space.

According to Tech Mahindra, global Metaverse revenue opportunity could approach USD 800 billion in 2024.

"With 5G and some of the metaverse applications like e-commerce coming up, it (metaverse) will be a significant part of our revenue," Gurnani said.

He said that the company has invested in development of 5G, blockchain and experience management and is now connecting all the dots to foray in metaverse business.

"5G enabled human experience management to create meta-commerce is what Tech Mahindra is doing and will continue to explore. Our customers are in simulation mode. People who have come to us are dealerships, banks, resorts, fashion brands, sports training and gaming. Most of them are from the west and two customers are from India," Gurnani said.

He said that several companies have started launching their products and services on NFT platforms which are moving towards metaverse and the entertainment industry is clamouring for metaverse.

According to a Credit Suisse report, the transition of digital ecosystem to metaverse, where a person will feel immersed in a virtual world, will push data usage by 20 times across the globe by 2032 and telecom operators Bharti Airtel and Reliance Jio are suitably placed to benefit from the surge in India.

The report added that India is one of the leading countries in the world in terms of number of hours spent on mobile per day but it has low penetration of fixed broadband compared to global peers, which will be key to realise the full potential of metaverse.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)