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The augmented reality (AR) and virtual reality (VR) market in India is poised for substantial growth, driven by a burgeoning demand for immersive experiences across various sectors. According to industry projections, the market is anticipated to expand at a compound annual growth rate (CAGR) of 11.39%, reaching a projected value of US$1,170.0 million by 2028.
AR and VR are being leveraged to enhance productivity, improve training and development, and provide valuable insights for decision-making
The Key Driver
Increasing adoption of AR and VR technologies in the consumer and enterprise segments.
The Key
Driver
Increasing adoption of AR and VR technologies in the consumer and enterprise segments.
In the consumer space, AR and VR are gaining popularity for gaming, entertainment, and social interactions. The availability of affordable and high-quality AR and VR devices, coupled with the development of engaging content, is expected to fuel consumer adoption.
Gaming, Social,
Entertainment
Revolution.
Manufacturing companies are using AR to visualize product designs and assembly processes, while healthcare professionals are employing VR for surgical training and patient education. Additionally, AR and VR are being used in education to create immersive learning experiences and in retail to provide virtual product demonstrations.
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In conclusion, the AR and VR market in India is on a trajectory of significant growth, driven by a confluence of factors, including increasing consumer adoption, enterprise applications, technological advancements, and government support.
The market is expected to witness substantial expansion in the coming years, with AR smart glasses emerging as a key area of focus. While challenges remain, the overall outlook for the AR and VR market in India is positive, and the potential for innovation and growth is immense.
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