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Metaverse Revolution in Automotive Industry

By Vishakha Thakur

In metaverse, car companies may connect with customers on a deeper level and provide them with more imaginative experiences. To increase their consumer base, brand recognition, and bottom line, automakers are using the metaverse.

The introduction of cutting-edge technologies is causing a huge upheaval in the automotive industry. The metaverse, an extension of how we use the internet today, is projected to transform all aspects of the automotive industry, including manufacturing, product customisation, and brand loyalty, as it will allow customers to view and buy cars from the comfort of their homes.

How can metaverse transform the automotive industry?

Metaverse has enabled vehicle manufacturers to virtualize processes throughout the customer’s car purchasing journey.

•  Customer Engagement
• New Experiences
• Be Competitive
• Increase Revenue
• Reduce Costs

Customer Engagement: The metaverse enables automotive brands to communicate with consumers all around the world. Automakers may enhance their brand reach and recognition by exposing their vehicles to a larger audience.

Fascinating experiences: The metaverse allows manufacturers to provide their customers with fascinating new experiences. Buyers can also customise their vehicles and take virtual test drives. This method will provide consumers with immersive experiences.

Be Competitive: The automotive industry is very competitive, and automakers are continuously looking for ways to differentiate themselves from competitors.

Using virtual reality is a terrific alternative for all automakers because it sets them apart from others.

Increase Revenue: Metaverse will provide new revenue prospects for all automakers. For example, automakers can sell virtual goods associated with their vehicles, such as virtual car accessories. This method generates additional revenue for automakers, while also potentially increasing actual vehicle sales and consumer loyalty.

Reduce Costs: While it is tough to reduce marketing and advertising expenses, automakers can do so with the metaverse and technologies like augmented reality and virtual reality. Metaverse provides a more cost-effective solution for all, as well as virtual showrooms, which are preferable to actual showrooms that incur significant costs.

Automakers Joining Metaverse Bandwagon

Auto giants such as BMW, Mercedes-Benz, Lamborghini, Maruti Suzuki, Nissan, and Hyundai have entered the metaverse, and many others are joining the bandwagon.

For instance, German automakers Audi and BMW are currently utilising Metaverse technology. Audi provides virtual driving enjoyment through Holoride, a platform for integrated and adaptive in-car entertainment. BMW is also creating an entire universe with Joytopia.

Skoda has also entered the Metaverse with Skodaverse to appeal to a younger demographic of shoppers.

Nissan, a Japanese carmaker, recently introduced the Heritage Cars and Safe driver studio in Meta’s Quest headset to honour its 90th anniversary.

Maruti Suzuki, Hyundai Motor, and MG Motor have also demonstrated their metaverse experiences by building digital twins of their own Auto Expo.

In an interview with Autocar Professional, Sukrit Singh, the co-founder of Metaform, remarked:

 “Leading manufacturers, including General Motors, Ford, Hyundai, Volvo, Jaguar, Maruti Suzuki, and Acura, have all ventured into the Metaverse with curated experiences. With Metaverse gaining popularity, all automobile manufacturers will inevitably have to be present on the Metaverse to reach out to their consumers.”

Why are automakers venturing into the metaverse?

The way we work, play, and live is going to change, and automakers are ready to take advantage of this.

•  Virtual Showrooms
• Virtual Introduces
• Customization

 Virtual showrooms: 

In virtual showrooms, customers will be able to explore and experience cars in realistic, three-dimensional settings, which will be highly interactive and immersive spaces. Customers will be able to take virtual test drives, personalise and customise cars to their preferences, and even communicate in real time with salespeople. These showrooms are positioned to provide highly engaging and customised experiences with the help of virtual and augmented reality.

Virtual car launches

Metaverse’s virtual car debut will provide participants with a highly realistic and interactive experience, allowing them to explore and experience the latest vehicles and their features in a lifelike, 3D environment. These launches will make use of advanced virtual and augmented reality technology to provide participants with a highly engaging experience, including virtual test drives, interactive displays, and virtual interactions with experts and sales staff.

Personalization

Metaverse enables brands to properly meet consumer expectations, such as customization. The virtual world allows buyers to change and customise a product to their taste. Customers can affect a product’s design sensibilities by requesting that makers and dealers add or improve new features, among other things. Customers will be able to choose from a variety of services, along with their choice of colour, interiors, etc.

For automakers, the metaverse has opened up new avenues for communicating with customers and creating unique experiences. Automakers are using the metaverse to reach a bigger audience, differentiate themselves from competitors, and develop new revenue streams.

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