- Virtual reality market in India is forecast to grow at nearly 56 per cent between 2016 and 2021.
- Sectors such as healthcare and military stand to benefit greatly from virtual reality apps.
Virtual reality has been around for quite some time now. With every other brand rushing to use virtual reality and augmented reality in its marketing efforts, this market is bound to grow by leaps and bounds. An IDC report estimates the revenues for augmented and virtual reality (AR/VR) market to grow to $162 billion in 2020. Another report expects the virtual reality market in India to grow at nearly 56 per cent between 2016 and 2021. So where does the opportunity lie in this market? Clearly, virtual reality has far more to offer than just viewing. And thus, we list down a few business opportunities in this market in India that can be explored by those who wish to rake in the moolah.
App development
It’s a booming business and the key to the market. Developing customised apps for different industries can be a great business opportunity. In particular, sectors such as healthcare and military can really benefit from VR.
In military, VR and AR can be used to train defence forces. The US-based Imaginate Technologies is already developing AR for the Indian army. Its ShootAR augmented reality simulator for soldier training lets soldiers see and interact in an environment that is an amalgamation of both real and virtual worlds.
This story is from the July 2017 edition of Electronics For You.
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This story is from the July 2017 edition of Electronics For You.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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