5 Top Indian Companies To Watch Out For Working On Metaverse In India

Future of Metaverse

Metaverse is said to be a nearly $800 billion market as it attracts a whole lot of social networks, online game developers etc. The Metaverse is the convergence of the physical and digital spaces in the next evolution of the internet as well as social networks implementing real-time 3D software.

Now as metaverse shall take over similar to blockchain technology, here are Indian tech companies with focus and working on the Metaverse space. Further the technology shall be a boon for tech companies thanks to Covid that scaled even a high adoption of cloud technology.

For IT companies, the metaverse offers a significant opportunity, thanks in large part to the pandemic that accelerated cloud adoption.

TCS:

The country's top IT major is slowly and gradually taking its move towards the Metaverse space. In a leading news daily report, the company's technology head Ramanujam said, "We are quite excited about it and we are making significant investments in metaverse along those lines. But the deal pipeline in terms of value will be very small." Further he adds that the value shall inch higher over the next 5 years.

The share price of the scrip saw a decline after the ex-date for the buyback and last traded in price at Rs. 3510.8 per share.

Tech Mahindra:

The IT services and solution provider to the telecom sector across the globe is also venturing into Metaverse. The company as per its report will be involved in the coevolution of physical and virtual world. Also, XR apps is said to be the crux for metaverse, enabled by 5G.

Among the strengths of the company is its debt free stance but nonetheless the IT major has posted poor profit growth of just 2% over the past 3 years.

Accenture:

The metaverse is seen to be a $8 trillion opportunity and is seeing a huge boom. So, in particular as per reports Accenture is helping the application of the landscape in banking space. Further as per the company's report Banking in the Metaverse: The next frontier it is said that banks need to understand the possibilities metaverse can offer and can transform everything from the basics to the future of business.

Zensar Technologies:

The company founded in the year 1991 has been recognised as 'Major contender' in @EverestGroup's Insurance Platforms IT Services PEAK Matrix® Assessment 2022. The company also excels in the areas of digital supply chain, AI, automation, cloud infra, data management, data science etc.
The company has identified Metaverse as one of its five strategic growth areas under the new CEO.

Infosys:

The company is in today's session (February 25, 2022) is up on the news of building Infosys metaverse foundry. As per reports, the company is aggressively foraying and establishing solutions around the 'Metaverse'- seen to be the 'next phase of the internet' that will be much more immersive, with interconnected virtual experiences.
On the stock front, the company is virtually debt free and has a healthy operating margin. Also, the scrip has a good ROE of 25.16%.