AR/VR Industry on the move in India

By Hridkamal RoyThe technologies of AR and VR are gradually coming together to make an impact on the business ecosystem in the recent times. A severe reshaping of marketing trends whether it be consumer goods or automotive or real estate, has been brought about by application of Augmented and Virtual Realities. “It's a space that is niche. It's a space that is growing. Numbers have projected the valuation of $220 Bn for this industry and now, even the military is using VR technologies for training their cadets”, says Prajwal Mugali, Founder, Armonia Technologies (OnetoBeam).

AR & VR enabled products and services provide specialised experiences in implicit and immersive learning which are predicted to gain traction in the market. Some of the other industry verticals that these technologies can have possible effect on are Heavy machinery, Oil & Gas, Aerospace among many others where on-job trainings can be difficult and dangerous. The course material can be transformed into a much easier version through Augmented & Virtual reality solutions.

A recent report published by NASSCOM states that the advent of 4G and high speed data communications have become key drivers for adoption of VR/ AR. The Growing demand for VR gear among smart-phone users, advent of entry-level VR headsets in the market and marketing push by smart-phone manufacturers have boosted the VR market all across the globe.

Hurdles along the Way

In spite of the promising exposure of the AR & VR technologies, the acceptance and adaptation of these technologies in a developing country like India is expected to be a little slow at first owing to the lack of content as well as awareness among users. NASSCOM report has further predicted that thought leadership and trainings can prove useful for making the big shift towards adoption. However, interest in VR and AR has grown substantially among people over the last few years.

Another challenge that these technologies will have to overcome is the pricing patterns of Augmented and Virtual reality merchandise. Products such as HTC Vive, OCULUS Rip among few others, which are well VR headsets undergo pricing which is more than the middle class population of the country can afford.

Other Implementations

The NASSCOM report implies that the Central Government can make use of VR and AR products and services for customs and border protection by making it easier to simulate scenarios for virtual training. Similarly, VR based training can be leveraged for disaster preparedness.