India Augmented Reality and Virtual Reality Market [2029] by Trends, Share, Forecast

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 624.11 Billion
CAGR (2024-2029)	19.43%
Fastest Growing Segment	Automotive
Largest Market	South India

India augmented reality (AR) and virtual reality (VR) market is anticipated to grow at a steady pace in the forecast period, 2025-2029. According to IBEF research, India AR & VR market is expected to advance at a robust CAGR by 2029. The availability of various VR devices, growing adoption of head-mounted displays (HMDs) in different industries sectors, and advancement of technologies in India are factors driving the augmented reality (AR) and virtual reality (VR) market growth, during the forecast period.

Augmented reality (AR) enhances customers surroundings by adding digital elements or technologies to the real world, such as by using a smartphone camera. The best examples of augmented reality technology are the popular mobile app Pokémon Go, which allows players to find and capture real-world Pokémon characters. The essential value of AR is the way in which the components of the digital world combine with the human observation of the real world.

Additionally, VR creates an immersive virtual environment. This can be done with something as simple as a plastic stand to put the phone on, but nowadays most people prefer head-mounted displays. Virtual reality is a big technological advancement in the education & healthcare sector, military/defense training, or business, such as virtual meetings or video calls. Moreover, virtual reality has revolutionized the gaming and entertainment industry by allowing users to immerse themselves in highly simulated environments.

Increasing Government Interest in the Market & Adoption of AR/VR in the Healthcare Sector

High government funding across the APAC region to advance the region's overall travel and tourism infrastructure, especially in developing countries, such as India, is expected to influence the augmented reality and virtual reality market growth. In addition, governments across the nation support automation for the development and growth of industry producing with new technologies such as AR & VR. Industrial and commercial applications are also becoming more and more dependent on AR & VR technology for on-site advertising and digitization.

Due to the increasing transformation among the travel & tourism, healthcare, education, retail, and gaming sectors, the nation’s investments in AR/VR solutions are growing. Further, the nation has the presence of several AR/VR solution developers, which supports the market growth.

In the healthcare industry, there are different applications of VR and AR in medicine or healthcare as VR has been in the industry for years. One of the most important applications in healthcare VR can include a snowy world. This technique helps the patient to deal with pain recovery methods, wound healing, entertaining patients with VR technology and makes them experience different environments to keep them comfortable during treatment. For people with crowd, height, and water phobias, VR is used to strengthen willpower and reduce these phobias. It is also used in various therapies to treat body pain as mentioned in one of the doctor’s neuroscience journals, which included a study on the use of VR in healthcare. Patients are introduced to gaming, which consists of completing tasks in VR as a member who encourages patients to get well soon. Sensors collect neural inputs for further diagnosis. These are the reasons which is responsible for the expansion of India augmented reality (AR) and virtual reality (VR) market.

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Adoption of AR/VR in the Learning Process

Moreover, adoption of technology helps to make the learning process interactive and aids students in understanding concepts better through visual presentations. The site of learning analytics has expanded dramatically in recent decades, especially in higher education. When students participate in games events, they learn faster. Game features help create a fun and productive learning experience for learners. Additionally, with the introduction of VR and AR, now there are many platforms for education, and they are experiencing big changes in learning methods. VR offers constructed reality and AR offers a better image. So, the integration of gaming technologies into educational technologies using VR can lead to better academic results and higher demand for virtual reality and augmented reality platforms. For example, in India, Byju's is one of the edtech startups offering AR services. This is why the demand of AR/VR in the Indian market is growing with a high market CAGR.

Acceptance of AR/VR in the Gaming Industry

AR/VR technology has revolutionized the gaming industry across the nation. Presently, approximately 80% of the revenue is contributed by the gaming industry. Due to VR technology, video games have become an emerging trend and exciting enough to engage many people from all walks of life. However, the most important development was mainstreaming competitive gaming that led to the rise of VR technologies. India is predicted to have the largest demand for VR games, due to the growing number of single-use games revenues and technological improvements in the gaming and entertainment industry. In addition, the development of VR halls is encouraged by the emergence of Free Roam VR in India (Zero Latency India), which allows users to be transported to the virtual world without wires and walk freely in the warehouse. The nation’s online players play in a social environment (using motion-capture technology and proximity sensors) in these arcades. Hence, the growing acceptance of AR and VR gaming technologies are supporting the growth of the augmented reality and virtual reality market in India.

Security & Privacy Issues are Restraining the Market Growth

Security and privacy concerns have increased by developers of AR programming and AR apps and tools. Several AR applications do not have establishments to protect the identity and privacy of the company’s customer or user, since there are no policies that define what is allowed and what is not allowed for working in an AR Platform. Augmented Reality technology can be unsafe as it is possible to gain unauthorized access to users' personal information. For an illusion, clothing retailers may exploit the try-before-you-buy principle. Instead of clothes, a hacker can cover an image of user. Thus, such user privacy concerns hinder the implementation of AR and VR in retail and other sectors.

Recent Developments:

Microsoft Corporation & Volkswagen formed a collaboration to bring AR (Augmented Reality) to cars using Microsoft's HoloLens 2. This vehicle dashboard can display a pedestrian warning at crosswalks and the temperature inside the car.
In April 2020, one of India's leading affordable eyewear brands and affordable optical retail chains, ‘MyValueVision.com’ announced to strengthen its presence in India, especially in tier II and tier cities and international markets, by opening more than 200 stores in the coming years, this plan is expected complete in the upcoming years.
AR company Krikey has launched a new AR game ‘Yatra in India’ in partnership with Reliance Jio.
In May 2022, chennai-based gaming startup BalaAatral Solutions has received USD 0.41 million (3 trillion) funding from the Ministry of Defense for two defense startup challenges.
Flipkart launched Flipkart Labs to enhance the e-commerce experience with AR and non-fungible tokens.
The Reliance Jio company has invested USD 15 million in Silicon Valley-based startup TWO, which focuses on the AR/VR sector.
In April 2022, Indian Prime Minister ‘Narendra Modi’ inaugurated the Pradhan Mantri Sangrahalay (PM Museum) in New Delhi. Indian startup Tagbin, along with other technology partners, is digitizing the museum at an estimated cost of USD 40 million (Rs 300 billion) using technologies, such as AR/VR.

Market Segmentation

India augmented reality and virtual reality market is segmented product type, organization size, offering, application, end user, and region. Based on product type, the market is segmented into head mounted display, handheld device applications, smart glass, and head up display. Based on organization size, the market can be divided into small & medium sized enterprises and large enterprises. Based on offering, the market can be segmented into hardware and software. Based on application, the market is divided into enterprise and consumer. Based on end user, the market is divided into consumer electronics, automotive, healthcare, manufacturing, defense, and others. Based on region, the market is divided into West India, North India, South India and East India.

Market Players

The key players profiled in the report 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, Simulanis Solutions Private Limited, and Immertive Pvt. Ltd.

Attribute	Details
Base Year	2023
Historic Data	2019 – 2023
Estimated Year	2024
Forecast Period	2025– 2029
Quantitative Units	Production Volume and CAGR for 2019-2023 and 2024-2029
Report Coverage	Revenue forecast, company share, growth factors, and trends
Segments Covered	Product Type Organization Offering Application End-Use Region
Region Scope	West India, North India, South India, East India
Key Companies Profiled	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, Simulanis Solutions Private Limited, Immertive Pvt. Ltd..
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, the India augmented reality and virtual reality market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Augmented Reality and Virtual Reality Market, By Product Type:

Head Mounted Display
Handheld Device Applications
Smart Glass
Head Up Display

India Augmented Reality and Virtual Reality Market, By Organization Size:

Small & Medium sized Enterprises
Large Enterprises

India Augmented Reality and Virtual Reality Market, By offering:

Hardware
Software

India Augmented Reality and Virtual Reality Market, By Application:

Enterprise
Consumer

India Augmented Reality and Virtual Reality Market, By End User:

Consumer Electronics
Automotive
Healthcare
Manufacturing
Defense
Others

India Augmented Reality and Virtual Reality Market, By Region:

West India
North India
South India
East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India augmented reality and virtual reality market.

Available Customizations:

India augmented reality and virtual reality market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

India augmented reality and virtual reality market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.3. Markets Covered

1.4. Years Considered for Study

1.5. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. India Augmented Reality and Virtual Reality Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Product Type (Head Mounted Display, Handheld Device Applications, Smart Glass, and Head Up Display)

5.2.2. By Organization Size (Small & Medium Sized Enterprises and Large Enterprises)

5.2.3. By Offering (Hardware and Software)

5.2.4. By Application (Enterprise and Consumer)

5.2.5. By End User (Consumer Electronics, Automotive, Healthcare, Manufacturing, Defense, and Others)

5.2.6. By Region

5.3. By Company (2023)

5.4. Market Map

6. West India Augmented Reality and Virtual Reality Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product Type

6.2.2. By Organization

6.2.3. By Offering

6.2.4. By Application

6.2.5. By End-Use

7. North India Augmented Reality and Virtual Reality Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Product Type

7.2.2. By Organization

7.2.3. By Offering

7.2.4. By Application

7.2.5. By End-Use

8. South India Augmented Reality and Virtual Reality Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Product Type

8.2.2. By Organization

8.2.3. By Offering

8.2.4. By Application

8.2.5. By End-Use

9. East India Augmented Reality and Virtual Reality Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Product Type

9.2.2. By Organization

9.2.3. By Offering

9.2.4. By Application

9.2.5. By End-Use

10. Market Dynamics

10.1. Drivers

10.2. Challenges

11. Market Trends & Developments

12. Policy & Regulatory Landscape

13. India Economic Profile

14. Company Profiles

14.1. Merxius Software Private Limited

14.1.1. Business Overview

14.1.2. Key Revenue and Financials (If Available)

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.2. Sony India Pvt. Ltd.

14.2.1. Business Overview

14.2.2. Key Revenue and Financials (If Available)

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.3. Imaginate Software Labs Pvt Ltd.

14.3.1. Business Overview

14.3.2. Key Revenue and Financials (If Available)

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.4. Samsung India Electronics Pvt. Ltd

14.4.1. Business Overview

14.4.2. Key Revenue and Financials (If Available)

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.5. Tata Elxsi Limited

14.5.1. Business Overview

14.5.2. Key Revenue and Financials (If Available)

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.6. SmartVizx Private Limited

14.6.1. Business Overview

14.6.2. Key Revenue and Financials (If Available)

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.7. Northern MindTech LLP

14.7.1. Business Overview

14.7.2. Key Revenue and Financials (If Available)

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.8. Microsoft Corporation (I) Pvt. Ltd.

14.8.1. Business Overview

14.8.2. Key Revenue and Financials (If Available)

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.9. Google India Pvt. Ltd.

14.9.1. Business Overview

14.9.2. Key Revenue and Financials (If Available)

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

14.10. OnePlus Technology Co., Ltd.

14.10.1. Business Overview

14.10.2. Key Revenue and Financials (If Available)

14.10.3. Recent Developments

14.10.4. Key Personnel

14.10.5. Key Product/Services

14.11. Simulanis Solutions Private Limited

14.11.1. Business Overview

14.11.2. Key Revenue and Financials (If Available)

14.11.3. Recent Developments

14.11.4. Key Personnel

14.11.5. Key Product/Services

14.12. Immertive Pvt. Ltd

14.12.1. Business Overview

14.12.2. Key Revenue and Financials (If Available)

14.12.3. Recent Developments

14.12.4. Key Personnel

14.12.5. Key Product/Services

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

Who are the leading players in India augmented reality and virtual reality market?

The key players profiled in the report 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, Simulanis Solutions Private Limited, and Immertive Pvt. Ltd.

What are the main drivers of the India augmented reality and virtual reality market?

Government initiatives are anticipated to propel the AR/VR demand in the forecast period and act as a catalyst in the growth of the India augmented reality and virtual reality market.

What is augmented reality and virtual reality?

Augmented reality (AR) is an immersive experience of the physical world environment whereas, virtual reality (VR) is a virtual experience. Entertainment (especially video games), education (such as medical or military training), and business (such as virtual meetings) are all examples of virtual reality applications.

What are the significant challenges faced by the India augmented reality and virtual reality market?

Numerous augmented reality applications do not have policies to protect the privacy of the company’s customer, which is anticipated to hamper the market growth in the forecast period.

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Press Release

India Augmented Reality and Virtual Reality Market Expected to Grow at a Robust CAGR

Aug, 2023

Growing gaming industry 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

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