Indian Virtual Reality Market Industry Analysis, Trends, Opportunities, Drivers, Challenges and Forecast 2025

Indian virtual reality market is growing at a CAGR of approximately 32.0% during the forecast period. The country is continuously working towards positioning itself as one of the leaders by various technological development and industrialization. There are various large companies in the country which are increasingly focusing on the transformation of technology into the digital world. This is majorly owing to increasing awareness of novel operating models with advanced features. According to the India Brand Equity Foundation (IBEF), the India ranks at the third position in the most attractive investment destinations for technology across the globe, which increases the investments by the government and hence supports the Indian virtual reality market growth.

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Top Key Players - Apple Inc., HTC Corp., Microsoft Corp., Nvidia Corp., Samsung Electronics Co. Ltd., Sony Corp., Vuzix Corp., Zeiss international

Additionally, increasing Internet penetration and growing adoption of the smartphones in the country are driving the growth of the Indian virtual reality market. According to BGR Media, the total number of smartphone user in India was recorded 292 million in 2016, which was much higher from 238 million in 2015. Moreover, increasing trend of smart phone users along with social media growth is augmenting the market growth in India. About 451 million of internet users were recorded in 2016. This high penetration rate of Internet and smartphones has been acting as a lucrative segment to the attackers.

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Further, Google has brought Daydream View VR headset and controller to India in 2017. Through the VR headset and controller, the users can take experience of VR videos created by VR software companies operating across the world. The users can use Google Street View and YouTube VR to see curated tours of more than 150 spots of the world's immensely popular places such as the Taj Mahal and the Pyramids. Furthermore, there are various apps and games available on Daydream, which includes NYT VR, The Turning Forest, Guardian VR, Labster: World of Science, Google Play Movies, Within, Netflix VR, Fantastic Beasts, Wonderglade, The Arcslinger, Gunjack 2: End of Shift, Mekorama VR, Need for Speed No Limits VR, and LEGO BrickHeadz Builder VR. Thus, such innovations are expected to provide growth to the Indian virtual reality market.

Market Segmentation

Virtual Reality Market by Component

o Hardware
o Software

Virtual Reality Market by System

o Non-immersive VR
o Semi-immersive VR
o Fully-immersive VR

Virtual Reality Market by Application

o Entertainment
o Gaming
o Tourism
o Training & Education
o Others (Live Events and Real Estate)

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