Tech in Asia
Last Updated at January 17, 2018 10:47 IST India has seen 170 AR/VR startups rise in the past few years. The AR/VR market there is expected to grow at a compound annual growth rate (CAGR) of 76 percent over the next five years.
AR/VR has impacted various industries in the country, such as consumer goods, retail, real estate, and automotives. But despite its potential, there are still some major issues that need to be addressed.
Let’s take a deeper look. Positive trends The key drivers of AR/VR adoption in India are the advent of 4G technology and high-speed communication combined with the increasing number of smartphone users.
Local mobile network operator Reliance Jio has made 4G accessible to the rural population, while the number of smartphone users in India (160 million currently) is expected to surpass that of the US in two years. Currently, India is swamped with VR gadgets (e.g.
Oculus, Samsung Gear VR, Sony PlayStation VR, etc.) with decreasing prices. A developing interest for VR gear among mobile users, the availability of entry-level VR headsets in the market, and push from mobile device makers have become instrumental in boosting the VR market in India. Read more from business-standard.com…
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