Enterprises need to explore metaverse, super-apps in 2023, says Gartner

Metaverse, a digital space that uses virtual reality, augmented reality, and other advanced technologies to allow people to have lifelike experiences online, and super-apps that combine the features of an app, a platform and an ecosystem in one application, are turning out to be some of the key technologies that enterprises should explore in 2023 and beyond. This is according to a new report by analyst firm Gartner.

The analyst firm expects that a complete metaverse will be device-independent and won’t be owned by a single vendor. It will have a virtual economy of itself, enabled by digital currencies and non-fungible tokens (NFTs). By 2027, Gartner predicts that over 40% of large organisations worldwide will use a combination of Web3, AR cloud and digital twins in metaverse-based projects aimed at increasing revenue.

Super apps eliminate the need to download various programs to accomplish different tasks and provide a platform for third parties to develop and publish their own mini-apps on. For example, Alipay, PhonePe, Rappi, Grab, Tata Neu and Troop Messenger. By 2027, Gartner predicts that more than 50% of the global population will be daily active users of multiple super apps. 

“Although most examples of super apps are mobile apps, the concept can also be applied to desktop client applications, such as Microsoft Teams and Slack, with the key being that a super app can consolidate and replace multiple apps for customer or employee use,” said Frances Karamouzis, distinguished VP analyst at Gartner. 

Many of these trends are already visible in the Indian market. Tata Digital, which launched the super app Tata Neu in April this year, has a customer base of 83 million. It has already rolled out digital products and solutions for different Tata Group companies, for example, Titan, Tata Motors and Air India to the platform. Its rewards programme NeuPass has already garnered around 27 million customers, as per a report published in The Guardian.

The metaverse is also gaining momentum across the world and in India. The global metaverse market is expected to reach $996 billion in 2030, at a compound annual growth rate (CAGR) of 39.8%, according to a study published by data and analytics company GlobalData. The study said that the metaverse market size reached a value of $22.79 billion in 2021.

Already, Indian companies like Mahindra & Mahindra, Tanishq, Cadbury’s India, Tata Tea and MakeMyTrip have ventured into the metaverse space and are paving the road to the digital future. 

On Monday, Flipkart announced a metaverse-based shopping platform called Flipverse, in partnership with decentralised music and entertainment firm eDAO. Part of Flipkart Labs, Flipverse was unveiled in April to build “blockchain and metaverse use cases," the e-commerce giant told Mint, adding that “the first phase will involve 15 brands including apparel brand Puma, cosmetics and personal care brand Nivea, and homegrown electronics brand Noise.

Some of the other strategic technology trends that organisations need to explore in 2023 include, adaptive AI systems that use real-time feedback to change their learning dynamically and adjust goals. This makes them suitable for operations where rapid changes in the external environment, as in the case of space research. 

Gartner also said that currently many organisations are not well prepared to manage AI risks and 41% of organisations had experienced an AI privacy breach or security incident. However, those organisations that actively managed AI risk, privacy and security achieved improved AI project results and this would also be an interesting space to watch out in 2023 and beyond.