India Augmented Reality and Virtual Reality Market Set to Grow at CAGR 55% till 2021
Increasing adoption of head-mounted display in gaming
industry and defense aircraft to drive India augmented reality and virtual
reality market through 2021
According
to recently released TechSci Research report, “India
Augmented Reality and Virtual Reality Market By Product Type, By End-user,
Competition Forecast and Opportunities, 2011 – 2021”, augmented
reality (AR) and virtual reality (VR)market in India is projected to register a
CAGR of 55.3% during 2016 - 2021. Rising adoption of AR & VR based products
such as head-up display, head-mounted display, etc., among various end
users including defense, automotive, consumer electronics, etc., is anticipated
to drive the growth in the country’s AR & VR market over the next five
years. In addition, a rising number of consumer electronics applications such
as gaming, entertainment, etc. are witnessing increasing adoption of AR &
VR devices in the country.
Browse 16
market data Tables and 40 Figures spread through 111 Pages and an
in-depth TOC on "India Augmented Reality and Virtual Reality Market"
https://www.techsciresearch.com/report/india-augmented-reality-and-virtual-reality-market-by-product-type-head-mounted-display-head-up-display-smart-glasses-and-handheld-devices-applications-by-end-user-defense-automotive-etc-competition-forecast-and-opportunities-2011-2021/719.html
Among various AR & VR technology based products,
head-mounted display (HMD) accounted for the largest revenue share in the
country in 2015. On account of rising adoption of HMD products in various applications
as well as new products, head-mounted displays segment is anticipated to continue
its dominance during the forecast period. Moreover, continuing growth in the
country’s gaming industry is expected to boost demand for HMDs over the course
of next five years. In 2015, gaming market in India was over US$ 501 million
and it is forecast to cross US$ 792 million in value terms by 2021.
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In 2015, defense industry was the largest end-user of AR
& VR products on account of increasing use of head-mounted display for
training purpose, and of head-up displays for displaying information such as aircraft
speed, altitude, horizon line, etc. Rising defense budget of the country is
expected to further boost adoption of AR & VR based products over the next
five years. “Rising usage of augmented
realty in pico projectors, coupled with growing adoption of virtual & augmented
reality in gaming, defense and education & training is likely to drive the market
during 2016-21. In addition, rising applications of VR in e-commerce industry and
increasing sales of AR embedded luxury cars is anticipated to augment demand for
AR & VR based products and technology in the country during forecast
period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“India Augmented Reality and
Virtual Reality Market By Product Type, By End-user, Competition Forecast and
Opportunities, 2011 – 2021” has
evaluated the future growth potential of India augmented reality and virtual
reality market and provides statistics & information on market structure,
consumer behavior and trends. The report is intended to provide cutting-edge
market intelligence and help decision makers in sound investment evaluation.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities available in India AR & VR market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research
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employing innovative research solutions and tracking global and country
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market trends.
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