Reliance Jio and Bharti Airtel, two of the only profitable telecom operators, are well set to benefit big from the increase in demand for data that metaverse is going to bring with it. There are people who are worried about the rising data prices, and Airtel has already reported that the data consumption per average user per month was lower in Q3 FY22 compared to the previous quarter.
But, the digital world is not ending, only beginning. While the data prices might go up, people will not stop consuming but will start paying more. A big part of the digital future is going to be metaverse.
Metaverse is a virtual ecosystem/world that will give users a fully immersed virtual experience. It has the potential of increasing the screen time of the users considerably and will definitely push the amount of data users consume.
Jio, Airtel to Benefit from the Increase in Data Consumption
The data usage is expected to go up by 20 times by 2032, said Credit Suisse, in a report on Thursday. According to PTI, the banking institution noted the strong position of Airtel and Jio in the Indian telecom market to benefit from the growth in data consumption.
The report mentions that while 5G will play a major role in the growth of metaverse, 6G is going to enhance the use cases of the virtual world.
Credit Suisse said that it is too early to determine how the impact of the metaverse would be on the revenues of the telcos, but Airtel and Jio are well placed to benefit from the surge in data usage.
There was no mention of the third-private telecom operator, Vodafone Idea (Vi). Vi will also try to compete with Airtel and Jio in the metaverse. But if the telco can’t upgrade networks fast, it won’t likely be a true competitor for Airtel and Jio anyway.