6/11/2023 0 Comments Colorcross vr india![]() The enterprise segment accounted for 72% of the AR/VR market as of 2020 the technology has found application in the automotive, oil & gas, logistics and healthcare sectors. The hardware segment dominated India's AR and VR segment with 71% share as of FY20. Usage of AR/VR headsets has increased in the consumer segment due to the lower cost of wearables. AR/VR technology is widely used in retail, education, gaming, and healthcare. Most of the young population in Tier 2 and Tier 3 cities have high tech literacy, which has enabled companies/app providers to offer AR-based experiences. As of 2021, India had 1.2 billion mobile subscribers, of which 750 million were smartphone users. In India, AR/VR adoption has grown across business verticals, expanding from US$ 0.34 billion in 2017 to US$ 1.83 billion in 2020 at a compounded annual growth rate (CAGR) of 75%.Īccording to Research and Markets, the total market size of AR/VR in India is expected to advance at a CAGR of 38.29% to US$ 14.07 billion by 2027, driven by increased smartphone penetration and widespread internet connectivity, and this trend is expected to continue. The global AR/VR market size stood at US$ 28 billion in 2021 and is projected to reach US$ 250 billion by 2028, according to Statista. A smart device and camera are required to experience AR, while VR is experienced through a proper VR headset. ![]() Complex things can be simplified by visualisation using both these technologies. ![]() VR, on the other hand, refers to a computer-generated 3D environment that is fully digital. AR is a technology that superimposes an image onto the user's view of the natural world and enhances it with sound and touch. To keep pace with this trend, Indian companies have been adopting advanced technologies, such as Artificial Intelligence (AI), Big Data, Augmented Reality (AR) and Virtual Reality (VR), to improve efficiency and productivity. Advanced technology is gaining prominence across the globe, especially after the pandemic.
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