Industrial Metaverse: A New Dawn For The Automotive Manufacturing Industry

Industrial Metaverse: A New Dawn For The Automotive Manufacturing Industry

The future is here!

With every year passing, technology is seeping into our life course, refurbishing everything around us. And gradually, it is gaining a solid foothold in the name of the metaverse.

Primarily being rooted in the gaming and education industry, the metaverse is expanding its roots in several mainstream industries like Automotive, manufacturing, Etc. Since technology boosts convergence across multiple departments, so the demand for metaverse development companies is rising.

The metaverse market worldwide will rise to $61.8 billion by 2022. (Markets and Markets)

It is clear that the metaverse is taking the world by storm. The craze around the metaverse has gone beyond the gaming and education industry. As a matter of fact, while seeping into sectors like manufacturing and automotive, the metaverse gets a new shape: industrial metaverse.

Just like NFT and blockchain development company means for gaming and entertainment, the industrial metaverse seems to have the same value for the automotive and manufacturing sectors.

So, let's dive into the industrial metaverse and how it revamps the automotive industry from multiple corners.

What Is Industrial Metaverse For Automotive Industry?

The automotive industry will bounce off in the upcoming years.

Ø  Light vehicle production worldwide will reach 99 million by 2025. (Statista)

Ø  Moreover, new business models can outstretch the automotive industry revenue pool by $1.5 trillion by2030. (McKinsey And Company)

Considering the fast adoption of the industrial metaverse in the automotive industry, there lies hardly any doubt regarding the driver of this growth.

Metaverse is a set of technologies fostering persistent and digital representations of real-world aspects like people, places, and things.

The characteristics of metaverse shift according to the requirements of sectors. The idea of the industrial metaverse comes to the surface.

Automotive metaverse involves changes in the industrial-technological abilities:

·         AR, VR, and MR-enabled market-ready devices

·         Automotive specified metaverse world with millions of active users

·         Virtual assets carved out of Web3 technology, to name a few.

This kind of convergence is adding new dimensions to the automotive industry.

·         It facilitates a new immersive sphere blurring the lines between the virtual and real worlds.

·         Organizations and employees can interact and fully immerse themselves in this remodeled virtual world.

·         They can access digital content in three dimensions—a far cry from the earlier and conventional online experiences.

The global Metaverse market will expand to $426.9 billion by 2027. (Markets and Markets)

·         The forecast of metaverse market expansion entirely depends on how it revolutionizes industries quickly. Many car manufacturers are exploring the possibilities of industrial metaverse applications.

·         The interactive holographic widescreen, and 3D simulated virtual vehicle showrooms, are just the beginning.

So, what are the other potential changes the industrial metaverse can bring to the automotive manufacturing industry?

Let's unlock!

How Is Industrial Metaverse Reshaping The Automotive Manufacturing Industry?

As per Gartner's perspective, organizations leveraging the metaverse can draw and engage their targeted audience virtually through the principle of Human-Machine interaction.

Industrial metaverse can help the automotive industry cope with the market challenges and reshape organizations through the following ways:

Safe And Effective Employee Training

·         Admit it or not, it is more challenging for automotive manufacturing companies to train employees within a safe environment. In addition, Automotive employee training is an expensive one as well.

·         Metaverse is making it easier for automotive manufacturing companies to train their employees and workers within a safe virtual environment.

·         Instead of using physical equipment, employees can practice the function of industrial equipment by simply putting on VR headsets.

·         For instance, It is pretty expensive and time-consuming to train JetBlue technicians. So, JetBlue has partnered with Strivr to develop VR solutions to train their technicians efficiently. The VR-enabled training solutions have helped employees to gain technical skills within a safe 3D simulated environment.

·         Additionally, employees or workers can make mistakes within a metaverse without facing real-world consequences.

Virtual Test Drives For Employees And Customers

·         Virtual test drive is a new trend that fascinates the employees and customers on the verge of the automotive industry.

·         On one side, VR-enabled test drives help employees to detect flaws n their vehicle design and development before the launch.

·         While on the other side, it allows customers to experience real-life-like vehicle rides in the metaverse.

·         In 3D virtual vehicle showrooms, customers can configure car models and features. 

·         VR showrooms even allow customers to interact with others via audio chat rooms.

·         Workers and customers can jump on avatars of their preferences and indulge themselves in car modification, test drives, and gamification.

·         So, virtual test drives will foster a never-like-before customer-vehicle manufacturer bond.

·         In addition to that, by partnering with blockchain development companies, automotive manufacturers can launch their NFTs in the metaverse, alluring more customers to their virtual car showrooms.

Virtual Product Design Collaboration

·         Metaverse adoption can also reform and modify the vehicle design and development area.

·         Engineers can collaborate on designs in metaverse meetings and conference rooms, whether in the office or working remotely.

·         It also allows the engineers to create virtual vehicle designs and present them to their seniors in the virtual meeting rooms. It will definitely boost engineers' designing efficiency and production overall.

Final Thoughts

To conclude, industrial metaverse impregnates with infinite possibilities.

It holds the potential to impact multiple industries at once. Partnering with a metaverse development company is the best way automotive manufacturers can do to stay relevant in the market.

It is also true that the metaverse is in the early stage. So, our expectations of metaverse-driven automotive industry changes are just the tip of the iceberg. Since the metaverse is here to remain longer than we can imagine, how the automotive industry will adopt the technology is to observe.

The global metaverse market for automotive will ascend to $16.5 billion by 2030 from $1.9 billion in 2022. (Markets and Markets)

All front-row tech and market forecast specialists share the same thought. They are assuming that metaverse in the automotive manufacturing space will expand in tandem within the next five years.