Metaverse set to drive luxury car sales

Axiscades Technologies which is the augmented reality (AR) and virtual reality (VR) domain says premium and luxury car companies will be among the first to adopt such technologies that are called a Metaverse to offer both a virtual visualisation experience and differentiation to their potential customers.

Speaking with Autocar Professional, Arun Krishnamurthi, the managing director and CEO, Axiscades Technologies, explained, “We have seen car sales transitioning to online channels during Covid, and AR and VR are now bringing customers as close as possible to reality in the virtual environment. That is where deep technology and Metaverse come into the picture.”

Metaverse is the new mantra in the technological world, with many in the automotive sector exploring its myriad possibilities in product development, engineering as well as vehicle sales. Metaverse is a technology that allows various social and financial interactions in a 3D virtual world by the use of both AR and virtual reality VR tools.

While it is used extensively in the gaming industry, the technology has been used in various other sectors too like cinema, medicine, automotive, and sports to name a few, to establish a deeper connection with humans and to virtually transport them to a completely different world.

As Krishnamurthi puts it, “It’s not really about the price point which is the differentiator in the luxury segment but the car’s features, and how one can delight the customer, which are important.”

“Augmented reality is playing a big role in not just determining how one can visualise a product, but also in terms of exploring product features, customisation options and getting a truly immersive experience. There are boundless possibilities of human interactions with a car in the Metaverse, and a lot of intense engineering is currently happening,” Krishnamurthi added.

“I would say it’s hard to put a timeline in terms of number of years as to when the full roll out of Metaverse and deep tech in the automotive sector in India would happen, but, as a market, India is leapfrogging technology,” Krishnamurthi says.

“The adoption of Metaverse and deep tech by the automotive industry is certainly in the near term, and would only get faster with the advent of 5G and more accessibility to high-speed broadband,” Krishnamurthi said.

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In Conversation with Axiscades Tech's Arun Krishnamurthi