India augmented reality and virtual reality market size, share & market forecast fy2026

FY2016–FY2026 INDIA AUGMENTED REALITY AND VIRTUAL REALITY MARKET FORECAST & OPPORTUNITIES

www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

Scope of Report Product of Interest (POI): Augmented Reality and Virtual Reality

Augmented Reality (AR) offers enhanced display of real-world through the help of digital visual elements, while Virtual Reality (VR) involves a computer-generated simulation in which a user may or may not experience real word with the use of electronic devices.

Market Segmentation AUGMENTED REALITY AND VIRTUAL REALITY MARKET

PRODUCT TYPE

END USER

ORGANIZATION SIZE

•

Head-Mounted Display

•

Entertainment

•

Large Enterprises

•

Head-Up Display

•

Manufacturing

•

Small & Medium-

•

Smart Glass

•

Healthcare

•

Handheld Device

•

Defense

Applications

•

Consumer Electronics

OFFERING •

Hardware

•

Software

•

Automotive

•

Others APPLICATION

•

Consumer

•

Enterprise

Sized Enterprises REGION •

North

•

South

•

East

•

West

Year Range Review Period

FY2016 – FY2019 Base Year

FY2020 Estimated Year

FY2021 Forecast Period

FY2022 – FY2026

2

Table of Contents S. No. 1.

2.

Contents Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)

Research Methodology (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)

3.

Executive Summary (This chapter covers summary of the complete study.)

4.

Voice of Customer (Brand Awareness, Challenges Faced Post Purchase, Factors Influencing Purchase Decision)

5.

Global Augmented Reality & Virtual Reality Market Overview

6.

India Augmented Reality and Virtual Reality Market Outlook, FY2016-FY2026F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)

6.1.

Market Size & Forecast 6.1.1.

6.2.

5.3.

7.

Page No.

By Value & Volume

Market Share & Forecast (The overall product of interest bifurcated/split among various segments.)

By Product Type (Head-Mounted Display, Head-Up Display, Smart Glass, 6.2.1.

Handheld Device Applications) 6.2.2.

By Organization Size (Large Enterprises, Small- & Medium-sized Enterprises)

6.2.3.

By Offering (Hardware & Software)

6.2.4.

By Application (Consumer, Enterprise)

6.2.5.

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

6.2.6.

By Company (FY2020)

6.2.7.

By Region (North, East, West, South)

Product Market Map

India Augmented Reality & Virtual Reality Head-Mounted Display Market Outlook, FY2016-FY2026F

3

Table of Contents S. No.

Contents 7.1.

Market Size & Forecast 7.1.1.

7.2.

8.

By Value & Volume

Market Share & Forecast 7.2.1.

By Organization Size

7.2.2.

By Offering

7.2.3.

By Application

7.2.4.

By End User

India Augmented Reality Head-Up Display Market Outlook, FY2016-FY2026F 8.1.

Market Size & Forecast 8.1.1.

8.2.

9.

Page No.

By Value & Volume

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

India Augmented Reality Smart Glass Market Outlook, FY2016-FY2026F 9.1.

Market Size & Forecast 9.1.1.

9.2.

By Value & Volume

Market Share & Forecast 9.2.1.

By Organization Size

9.2.2.

By Offering

9.2.3.

By Application

4

Table of Contents S. No.

Contents 9.2.4.

10.

By End User

India Augmented Reality Handheld Device Applications Market, FY2016-FY2026F 10.1.

Market Size & Forecast 10.1.1.

10.2.

11.

By Value & Volume

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

India Augmented Reality Smart Glass Market Outlook, FY2016-FY2026F 11.1.

Market Size & Forecast 11.1.1.

11.2.

12.

13.

Page No.

By Value & Volume

Market Share & Forecast 11.2.1.

By Organization Size

11.2.2.

By Offering

112.3.

By Application

11.2.4.

By End User

Market Dynamics (This chapter assesses the major demand drivers and restrains. In addition, this section also analyzes its impact on the demand of the product during study period.)

12.1.

Drivers

12.2.

Challenges

Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)

5

Table of Contents S. No.

Contents

14.

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

15.

India Economic Profile

16.

Competitive Landscape 16.1.

Competition Outlook

16.2.

Company Profiles (Top 10 Leading Companies) 16.2.1.

Company Details

16.2.2.

Products & Services

16.2.3.

Financials (As Reported)

16.2.4.

Key Market Focus & Geographical Presence

16.2.5.

Recent Developments

16.2.6.

Key Management Personnel

17.

Strategic Recommendations (Based on the findings of the report strategic recommendations on how to enter and expand market share)

18.

About Us & Disclaimer

Page No.

6

RESEARCH METHODOLOGY

Research Methodology

Market Profiling

In-depth secondary research was conducted to determine top players in the India augmented reality and virtual reality market, overall market size and segmental market size.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

Developing List of Respondents

List of industry players and industry specialists was developed.

Data Collection

Data Validation

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

TechSci conducted interviews with industry experts and industry players for data collection and verification.

Primary Research

Data Collection

Data Filter & Analysis

Research & Intelligence

Actionable Insights

Business Solution

Primary Research ✓ LinkedIn ✓ TechSci Internal Database

Desk Research

✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews

Secondary Research ✓ Company Websites ✓ Company Annual Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc.

✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Conclusion

Data Analysis

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India augmented reality and virtual reality market.

Company Analysis ✓ Market Participants ✓ Key Strengths

Paid Sources ✓ Factiva ✓ Hoovers

8

Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India augmented reality and virtual reality market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing penetration of head-mounted displays in entertainment & gaming sector, rise in defense budget allocation coupled with surging demand in healthcare sector, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India

augmented reality and virtual reality market.

Methodology Followed for Calculation of Market Size: •

Market Size By Value : Market size, in terms of value, for the year FY2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as augmented reality and virtual reality companies, end users, industry experts, and other industry participants.

•

The team interviewed more than 40 – 50 companies, 180 – 200 end users, and 15 – 20 industry experts and other value chain stakeholders in the India augmented reality and virtual reality market to obtain the overall market size from FY2016 to FY2020, which was validated by the Delphi technique.

Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2016-FY2020.

•

Respondents were asked about the current and future market growth rates, market shares by product type, by organization size, by offering, by application, by end user, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders.

9

Research Methodology Methodology Followed for Calculation of Market Shares: Market shares by product type, by organization size, by offering, by application, by end user, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of augmented reality and virtual reality market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting:

•

TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.

•

Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India augmented reality and virtual reality market, TechSci Research used various forecast techniques such as: ✓

Moving Average

✓

Time Series Analysis

✓

Regression Analysis

✓

Econometric and Judgmental Analysis

10

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data.

Partial List of Companies Interviewed

▪ Merxius Software Private LimitedSony India Pvt. Ltd. ▪ Imaginate Software Labs Pvt Ltd

Key Secondary Sources

▪ World Bank ▪ TechSci Research Proprietary Database & Knowledge Repository

▪ Samsung India Electronics Pvt. Ltd.

▪ Company Annual Reports

▪ Tata Elixsi Limited

▪ Industry Magazines

▪ SmartVizx Private Limited

▪ Industry Reports

▪ Northern MindTech LLP

▪ Statista

▪ Microsoft Corporation (I) Pvt. Ltd.

▪ News Dailies

▪ Google India Pvt. Ltd.

▪ Credible Paid Databases

▪ OnePlus Technology Co., Ltd.

11

Industry Brief According to TechSci Research report, “India Augmented Reality & Virtual Reality Market By Product Type (Head-Mounted Display, Head-Up Display, Smart Glass, Handheld Device Applications), By Organization Size (Large Enterprises, Small- & Medium-sized Enterprises), By Offering (Hardware & Software), By Application (Consumer, Enterprise), By End User (Entertainment, Manufacturing, Healthcare, Defense, Consumer Electronics, Automotive, & Others), By Company and By Geography, Forecast & Opportunities, FY2026”, India augmented reality & virtual reality market is expected to witness robust growth in the next five years owing to rising adoption of technology in diverse portfolio sectors including content generation, engineering and technology, and development of virtual applications for electronic devices to create customizable content.

Roll-out of 5G technology and Wi-Fi 6 and emerging technologies including big data analytics, artificial intelligence, machine learning is fueling the India augmented reality and virtual reality market growth. Digital transformation is observed around the world and growing tourism industry is fueling the market growth further in the upcoming five years.

However, lack of awareness in underdeveloped economies and high cost for equipment required for augmented reality and virtual reality coupled with harmful effect over eyes may create hindrance to the market growth.

India augmented reality & virtual reality market can be segregated by product type, organization size, offering, application, end user, region, and company. Based on application, market is further divided into consumer and enterprise. Consumer segment is expected to dominate the market in the forecast period due to rise in application of technology in consumer electronics and development of interactive gaming platforms. Also, rise in awareness regarding augmented reality and virtual reality is a major driver for the market growth. Depending on product type, market is categorized into head-mounted display, head-up display, smart glass, and handheld device applications. Head-mounted display is expected to hold major market share for the next five years. Growing investment for development of the technology is driving the market. Also, rise in demand for lightweight displays and increasing affordability among middle class families is fostering the growth of the market. Presence of young population immersed in engaging content in country along with application in various sectors comprising of healthcare, tourism, defense, gaming, automotive is also contributing to surge the demand for augmented reality and virtual reality market in India.

Merxius Software Private Limited, Sony India Pvt. Ltd., Imaginate Software Labs Pvt Ltd, Samsung India Electronics Pvt. Ltd., Tata Elixsi Limited, SmartVizx Private Limited, Northern MindTech LLP, Microsoft Corporation (I) Pvt. Ltd., Google India Pvt. Ltd., OnePlus Technology Co., Ltd. are the leading players operating in India augmented reality & virtual reality market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several electric charging vehicle infrastructure manufacturers are coming up with their technologically advanced offerings.

“Adoption of augmented reality and virtual reality for training purpose to replicate real life situations and instill quality training by prestigious institutions is expected to fuel the market growth. For instance, healthcare sector is using 3-D modelling for training purpose, among others. Highend investments from key players to provide engaging consumer experience and productivity gains is fostering the market growth. Also, reduction in deployment costs would benefit the new investors in settling their business in the country,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

12

Sample Data - Snapshot India Augmented Reality and Virtual Reality Market Size, By Value (USD Million) & Volume (Million Units), FY2016–FY2026F

5.00 10.00 FY2016

6.00 20.00

7.00 30.00

8.00 40.00

CAGR By Value & Volume

XX%

9.00 50.00

10.00 60.00

FY2020

FY2021E

12.00 80.00

11.00 70.00

13.00 90.00

14.00 100.00

CAGR By Value & Volume

YY%

By Value (USD Million)

15.00 110.00

FY2026F

By Volume (Million Units)

India Augmented Reality and Virtual Reality Market Share, By Product Type, By Value, FY2016–FY2026F

Head-Mounted Display FY2026F

FY2025F FY2024F FY2023F FY2022F FY2021E FY2020 FY2019 FY2018 FY2017 FY2016

Head-Up Display

25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

Smart Glass

Handheld Device Applications

25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

India Augmented Reality & Virtual Reality Head-Mounted Display Market Share, By Offering, By Value, FY2016–FY2026F FY2026F FY2024F FY2022F FY2020 FY2018 FY2016

Hardware 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

Software 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

13

Industry Brief

Report Name: INDIA AUGMENTED REALITY AND VIRTUAL REALITY MARKET FORECAST & OPPORTUNITIES FY2016–FY2026

Report Price License Type

Price

Electronic Access - Single User License

$2950

Electronic Access - Multi-User License

$3750

Custom Research License

$7500

To View Sample OR Purchase Report

14

About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas

to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

Related Reports •

India IoT in Manufacturing Market By Component (Solution, Platform, Service), By Application Area (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management, Real-Time Workforce Tracking & Management, Automation Control & Management and Emergency & Incident Management, Business Communication), By Vertical (Energy & Utilities, Automotive, Food & Beverages, Aerospace & Defense, Chemicals & Materials, High-Tech Products, Healthcare, Others), By Company, By Region, Forecast & Opportunities, FY2026

•

India Cloud Computing Market By Type (Public, Private, Hybrid), By Service (SaaS, IaaS, PaaS, BPaaS), By Organization Size (Small & Medium-Sized Enterprises (SMEs), Large Enterprises), By Application (App Hosting, E-mail, Storage & Backup, CRM, Business Analytics, Database & Content Management and Others), By End User (IT & Telecom, BFSI, Manufacturing, Government, Healthcare and Others), By Region, Forecast & Opportunities, FY2026 TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com

TechSci Research – Europe

54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com

TechSci Research – Asia-Pacific

B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com

Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand.

However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.