India Augmented Reality and Virtual Reality Market, By Product Type (Head Mounted Display, Handheld Device Applications, Smart Glass and Head Up Display), By Organization Size (Small & Medium sized Enterprises and Large Enterprises), By Offering (Hardware and Software), By Application (Enterprise and Consumer), By End User (Consumer Electronics, Automotive, Healthcare, Manufacturing, Defense and Others), By Region, Competition Forecast & Opportunities, FY2017-FY2027
India Augmented Reality and Virtual Reality Market stood at USD1.83 billion in FY2020 and is forecast to grow at a CAGR of 38.29% until FY2027. Growth in the India Augmented Reality and Virtual Reality Market is driven by the accelerating digital transformation of the country. The availability of various VR devices, growing adoption of head-mounted displays (HMDs) in different industries, advancement of technologies and growing digitization, penetration of HMDs in gaming and entertainment sectors following COVID-19, and high investments in AR & VR market are the key factors driving the growth of Augmented Reality & Virtual Reality Market across the country. Additionally, rise in adoption of technologically advanced solutions, increase in application areas among end-use industries, growing gaming industry all across the country with rising investments in AR and VR technologies in different fields and surge in penetration of smartphones in the emerging economies are expected to push the demand for AR & VR solutions in the forecast period. Moreover, government initiatives are anticipated to propel the product demand in the forecast period and also act as a catalyst in the growth of the India Augmented Reality and Virtual Reality Market.
Based on product type, the market can be segmented into Head Mounted Display, Handheld Device Applications, Smart Glass and Head Up Display. Head Mounted Display (HMD) dominated the market in FY2020 with market share of 35.84% on account of rising adoption of HMD products in various applications. Moreover, continuous growth in the country’s gaming and consoles industry is expected to boost the demand for HMDs in the upcoming period. Additionally, HMD devices are lightweight, portable, and affordable, providing opportunities in a variety of domains, such as healthcare and rehabilitation which is expected to foster the India Augmented Reality and Virtual Reality Market.
Based on organization size, the market can be divided into Small & Medium sized Enterprises and Large Enterprises. The Small & Medium Sized Enterprises dominated the market in FY2020 with a market share of 62.92% owing to their flexibility to make changes which leads them closer to the customers. Based on application, the market can be split into Enterprise and Consumer. The Enterprise overshadowed the market in FY2020 with a market share of 72.03% owing to their easy mobilization of resources and easy transferability of shares along with the various possibilities for expansion. Based on end user, the market can be divided into Consumer Electronics, Automotive, Healthcare, Manufacturing, Defense and Others. The Consumer Electronics outdid the market in FY2020 with a market share of 22.50% due to increased control and management of devices with improved device efficiency and potential energy savings.
On the basis of offering, the hardware segment dominated the India Augmented Reality and Virtual Reality Market with the largest market share of 71.28% in FY2020. This growth is due to the significant dip in the prices of AR and VR devices due to the large demand from gaming industry and easy availability of headsets across the country. On the basis of region, South India dominated the India Augmented Reality and Virtual Reality Market with a market share of 34.38% in 2020 owing to accelerated urbanization and digital transformation of the region.
Some of the major players in the India Augmented Reality and Virtual Reality Market include Merxius Software Private Limited, Sony India Pvt. Ltd., Imaginate Software Labs Pvt Ltd, Samsung India Electronics Pvt. Ltd., Tata Elxsi Limited, SmartVizx Private Limited, Northern MindTech LLP, Microsoft Corporation (I) Pvt. Ltd., Google India Pvt. Ltd., OnePlus Technology Co., Ltd. among others. Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and development of new innovative products.
• To analyze the historical growth in the market size of India Augmented Reality and Virtual Reality Market from FY2017 to FY2021. • To estimate and forecast the market size of the India Augmented Reality and Virtual Reality Market from FY2022 to FY2027 and growth rate until FY2027. • To classify and forecast India Augmented Reality and Virtual Reality Market based on product type, organization size, offering, application, end user and region. • To identify the dominant region or segment in the India Augmented Reality and Virtual Reality Market. • To identify drivers and challenges for India Augmented Reality and Virtual Reality Market. • To identify and analyze the profile of leading players operating in the India Augmented Reality and Virtual Reality Market. • To identify key sustainable strategies adopted by market players in the India Augmented Reality and Virtual Reality Market. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the country. The analyst calculated the market size of India Augmented Reality and Virtual Reality Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and application for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Augmented Reality and Virtual Reality products providers, distributors and other stakeholders • Maintenance and deployment companies • Organizations, forums and alliances related to Augmented Reality and Virtual Reality • Government bodies such as regulating authorities and policy makers • Market research and consulting firms The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the India Augmented Reality and Virtual Reality Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• India Augmented Reality and Virtual Reality Market, By Product Type: o Head Mounted Display o Handheld Device Applications o Smart Glass o Head Up Display • India Augmented Reality and Virtual Reality Market, By Organization Size: o Small & Medium sized Enterprises o Large Enterprises • India Augmented Reality and Virtual Reality Market, By offering: o Hardware o Software • India Augmented Reality and Virtual Reality Market, By Application: o Enterprise o Consumer • India Augmented Reality and Virtual Reality Market, By End User: o Consumer Electronics o Automotive o Healthcare o Manufacturing o Defense o Others • India Augmented Reality and Virtual Reality Market, By Region: o South o West o North o East
Competitive Landscape :
Company Profiles: Detailed analysis of the major companies present in the India Augmented Reality and Virtual Reality Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Our reports have been used by over 10K customers, including:
175 pages •
By The Business Research Company
• Jun 2022
Major players in the volumetric video market are Microsoft Corporation, Intel Corporation, 8I Ltd, Google, Stereolabs, Scatter, Facebook, 4D View Solutions SAS, OTOY Inc., Dimension, Mark Roberts Motion Control, Sony Group Corporation, Canon Inc, Verizon Communications, IO Industries Inc, Evercoast, DGene, and 3nfinite. The global volumetric...
The global near-eye display market size is estimated to be USD 1.7 billion in 2022 and is projected to reach 5.3 billion by 2027, at a CAGR of 24.7% during the forecast period. The market has a promising growth potential due to several factors, including the emergence of metaverse, surge in the use of OLEDoSmicrodisplays, and rising adoption...
This IDC Perspective discusses how augmented reality (AR) and virtual reality (VR) are preparing companies for the ever-evolving metaverse. It underscores several current use cases -- virtual meetings, virtual training and development, and augmented reality with field service -- with IDC's three pillars of the future of work: culture, augmentation,...
InContext Solutions, Inc. - Tech Innovator Profile Summary InContext Solutions, Inc., a Chicago-based company specializes in web-based 3D simulation software and virtual reality (VR) solutions to retail and consumer goods industries by leveraging ShopperMX, its VR platform for 3D simulation. Scope The...
The global head mounted display market is expected to grow from US$ 7,840.66 million in 2021 to US$ 55,333.07 million by 2028; it is estimated to grow at a CAGR of 32.2% from 2021 to 2028. Military operations are becoming increasingly diverse in their nature.There have been numerous goals driving this research over the past several...
KEY FINDINGS The North America graphic processing units (GPU) market growth is expected to progress at a CAGR of 33.21% during the forecast period, 2021-2028. The market growth is accredited to government funding in VR (virtual reality) and the emerging machine learning start-ups. MARKET INSIGHTS Canada...
The Asia Pacific Light Field Market would witness market growth of 16.5% CAGR during the forecast period (2021-2027). Light field refers to a function that explains the amount of light traveling in each direction using each point in space. Conventional photography obtains light with the help of lens-and-recorder integration, throwing...
The Europe Multi-access Edge Computing Market would witness market growth of 38.1% CAGR during the forecast period (2021-2027). The high requirement to improve the experience of virtual reality or augmented reality (VR/AR) by increasing the bandwidth that will help in improving the 5G capabilities thereby will boost the growth of the...
This IDC study provides the worldwide augmented and virtual reality hardware forecast for the 2021-2025 period."The worldwide augmented reality (AR) and virtual reality (VR) market will experience continued growth, thanks to a slowly warming reception and an increase in the number of new devices arriving to market," says Ramon T. Llamas, research...
Virtual And Augmented Reality
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.