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.

Years considered for this report:

Historical Years: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022E

Forecast Period: FY2023F-FY2027F

Objective of the Study:

  • 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.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.

TechSci Research 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. TechSci Research 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 TechSci Research.

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.

Report Scope:

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:
    • Head Mounted Display
    • Handheld Device Applications
    • Smart Glass
    • 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:
    • Hardware
    • Software
  • India Augmented Reality and Virtual Reality Market, By Application:
    • Enterprise
    • 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.

Available Customizations:

With the given market data, TechSci 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).

1.           Product Overview                             

2.           Research Methodology                                

3.           Impact of COVID 19 on India Augmented Reality and Virtual Reality Market   

4.           Executive Summary                          

5.           Voice of Customer                            

6.           Global Augmented Reality and Virtual Reality Market Overview                        

7.           India Augmented Reality and Virtual Reality Market Outlook                             

7.1.            Market Size & Forecast                    

7.1.1.       By Value & Volume

7.2.            Market Share & Forecast                 

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

7.2.2.       By Organization Size (Small & Medium sized Enterprises and Large Enterprises)       

7.2.3.       By Offering (Hardware & Software)          

7.2.4.       By Application (Enterprise & Consumer)  

7.2.5.       By End User (Consumer Electronics, Automotive, Healthcare, Manufacturing, Defense & Others) 

7.2.6.       By Region  

7.2.7.       By Company (2021)           

7.3.            India Augmented Reality & Virtual Reality Product Market Map                 

8.           India Augmented Reality and Virtual Reality Head Mounted Display Market Outlook

8.1.            Market Size & Forecast                    

8.1.1.       By Value & Volume

8.2.            Market Share & Forecast                 

8.2.1.       By Organization Size         

8.2.2.       By Offering

8.2.3.       By Application        

8.2.4.       By End User           

9.           India Augmented Reality and Virtual Reality Handheld Device Applications Market Outlook             

9.1.            Market Size & Forecast                    

9.1.1.       By Value & Volume

9.2.            Market Share & Forecast                 

9.2.1.       By Organization Size         

9.2.2.       By Offering

9.2.3.       By Application        

9.2.4.       By End User           

10.        India Augmented Reality and Virtual Reality Smart Glass Market Outlook

10.1.         Market Size & Forecast                    

10.1.1.     By Value & Volume

10.2.         Market Share & Forecast                 

10.2.1.     By Organization Size         

10.2.2.     By Offering

10.2.3.     By Application        

10.2.4.     By End User           

11.        India Augmented Reality and Virtual Reality Head Up Display Market Outlook

11.1.         Market Size & Forecast                    

11.1.1.     By Value & Volume

11.2.         Market Share & Forecast                 

11.2.1.     By Organization Size         

11.2.2.     By Offering

11.2.3.     By Application        

11.2.4.     By End User           

12.        Market Dynamics                              

12.1.         Drivers                      

12.2.         Challenges                

13.        Market Trends & Developments                              

14.        Policy & Regulatory Landscape of India Augmented Reality and Virtual Reality Market                     

15.        Import & Export Analysis                             

16.        Major Consumers of India Augmented Reality and Virtual Reality Market

17.        India Economic Profile                                 

18.        Competitive Landscape                               

18.1.         Company Profiles                 

18.1.1.     Merxius Software Private Limited  

18.1.2.     Sony India Pvt. Ltd.

18.1.3.     Imaginate Software Labs Pvt Ltd. 

18.1.4.     Samsung India Electronics Pvt. Ltd.         

18.1.5.     Tata Elxsi Limited  

18.1.6.     SmartVizx Private Limited 

18.1.7.     Northern MindTech LLP    

18.1.8.     Microsoft Corporation (I) Pvt. Ltd. 

18.1.9.     Google India Pvt. Ltd.

18.1.10.  OnePlus Technology Co., Ltd.

19.        Strategic Recommendations

20. About Us & Disclaimer

  • Figure 1:             India Augmented Reality and Virtual Reality Market Size, By Value (USD Billion), 2017-2027F

    Figure 2:             India Augmented Reality and Virtual Reality Market Size, By Volume (Thousand Units), 2017-2027F

    Figure 3:             India Augmented Reality and Virtual Reality Market Share, By Product Type, By Value, 2017-2027F

    Figure 4:             India Augmented Reality and Virtual Reality Market Share, By Organization Size, By Value, 2017-2027F

    Figure 5:             India Augmented Reality and Virtual Reality Market Share, By Offering, By Value, 2017-2027F

    Figure 6:             India Augmented Reality and Virtual Reality Market Share, By Application, By Value, 2017-2027F

    Figure 7:             India Augmented Reality and Virtual Reality Market Share, By End User, By Value, 2017-2027F

    Figure 8:             India Augmented Reality and Virtual Reality Market Share, By Region, By Value, 2017-2027F

    Figure 9:             India Augmented Reality and Virtual Reality Market Share, By Company, By Value, 2021

    Figure 10:          India Augmented Reality and Virtual Reality Market Map, By Product Type, Market Size (USD Billion) & Growth Rate (%)

    Figure 11:          India Augmented Reality and Virtual Reality Market Map, By Organization Size, Market Size (USD Billion) & Growth Rate (%)

    Figure 12:          India Augmented Reality and Virtual Reality Market Map, By Offering, Market Size (USD Billion) & Growth Rate (%)

    Figure 13:          India Augmented Reality and Virtual Reality Market Map, By Application, Market Size (USD Billion) & Growth Rate (%)

    Figure 14:          India Augmented Reality and Virtual Reality Market Map, By End User, Market Size (USD Billion) & Growth Rate (%)

    Figure 15:          India Augmented Reality and Virtual Reality Market Map, By Region, Market Size (USD Billion) & Growth Rate (%)

    Figure 16:          India Augmented Reality and Virtual Reality Head Mounted Display Market Size, By Value (USD Billion), 2017-2027F

    Figure 17:          India Augmented Reality and Virtual Reality Head Mounted Display Market Size, By Volume (Thousand Units), 2017-2027F

    Figure 18:          India Augmented Reality and Virtual Reality Head Mounted Display Market Share, By Organization Size, By Value, 2017-2027F

    Figure 19:          India Augmented Reality and Virtual Reality Head Mounted Display Market Share, By Offering, By Value, 2017-2027F

    Figure 20:          India Augmented Reality and Virtual Reality Head Mounted Display Market Share, By Application, By Value, 2017-2027F

    Figure 21:          India Augmented Reality and Virtual Reality Head Mounted Display Market Share, By End User, By Value, 2017-2027F

    Figure 22:          India Augmented Reality and Virtual Reality Handheld Device Applications Market Size, By Value (USD Billion), 2017-2027F

    Figure 23:          Figure 2: India Augmented Reality and Virtual Reality Handheld Device Applications Market Size, By Volume (Thousand Units), 2017-2027F

    Figure 24:          India Augmented Reality and Virtual Reality Handheld Device Applications Market Share, By Organization Size, By Value, 2017-2027F

    Figure 25:          India Augmented Reality and Virtual Reality Handheld Device Applications Market Share, By Offering, By Value, 2017-2027F

    Figure 26:          India Augmented Reality and Virtual Reality Handheld Device Applications Market Share, By Application, By Value, 2017-2027F

    Figure 27:          India Augmented Reality and Virtual Reality Handheld Device Applications Market Share, By End User, By Value, 2017-2027F

    Figure 28:          India Augmented Reality and Virtual Reality Smart Glass Market Size, By Value (USD Billion), 2017-2027F

    Figure 29:          India Augmented Reality and Virtual Reality Smart Glass Market Size, By Volume (Thousand Units), 2017-2027F

    Figure 30:          India Augmented Reality and Virtual Reality Smart Glass Market Share, By Organization Size, By Value, 2017-2027F

    Figure 31:          India Augmented Reality and Virtual Reality Smart Glass Market Share, By Offering, By Value, 2017-2027F

    Figure 32:          India Augmented Reality and Virtual Reality Smart Glass Market Share, By Application, By Value, 2017-2027F

    Figure 33:          India Augmented Reality and Virtual Reality Smart Glass Market Share, By End User, By Value, 2017-2027F

    Figure 34:          India Augmented Reality and Virtual Reality Head Up Display Market Size, By Value (USD Billion), 2017-2027F

    Figure 35:          India Augmented Reality and Virtual Reality Head Up Display Market Size, By Volume (Thousand Units), 2017-2027F

    Figure 36:          India Augmented Reality and Virtual Reality Head Up Display Market Share, By Organization Size, By Value, 2017-2027F

    Figure 37:          India Augmented Reality and Virtual Reality Head Up Display Market Share, By Offering, By Value, 2017-2027F

    Figure 38:          India Augmented Reality and Virtual Reality Head Up Display Market Share, By Application, By Value, 2017-2027F

    Figure 39:          India Augmented Reality and Virtual Reality Head Up Display Market Share, By End User, By Value, 2017-2027F

    Figure 40:          India Headphones, Earphones and Combined Microphone/Speaker Sets Import Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 85183000)

    Figure 41:          India Headphones, Earphones and Combined Microphone/Speaker Sets Export Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 85183000)

    Figure 42:          India Spectacles, Goggles and Others Import Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 90049090)

    Figure 43:          India Spectacles, Goggles and Others Export Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 90049090)

    Figure 44:          India Monitors, Projectors and Others Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2017-2021 (HS Code: 85285900)

    Figure 45:          India Monitors, Projectors and Others Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2017-2021 (HS Code: 85285900)

    Figure 46:          India Cameras and Recorders (Excluding Television Cameras, Digital Cameras and Video Cameras) Import Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 85258090)

    Figure 47:          India Cameras and Recorders (Excluding Television Cameras, Digital Cameras and Video Cameras) Export Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 85258090)

    Figure 48:          India Video Game Consoles and Machines Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2017-2021 (HS Code: 95045000)

    Figure 49:          India Video Game Consoles and Machines Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2017-2021 (HS Code: 95045000)

    Figure 50:          India Semiconductor Media, Recorded (Excluding Smart Cards) Import Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 85235990)

    Figure 51:     India Semiconductor Media, Recorded (Excluding Smart Cards) Export Scenario, By Value (USD Million) & By Volume (Million Units), 2017-2021 (HS Code: 85235990)