Key growth drivers of the market:
o The Indian government has initiated several development programs, which are supporting the VR market. Also, organizations like IDG Ventures India (IDGVI) and Axilor Ventures are participating in the development of the VR market in India with the help of investments through Frontier Tech Innovators Program. As a result, various kinds of VR equipment have become easily accessible and affordable for Indians, thus driving the growth of the market.
o VR has recently found extensive usage in India in the fields of military, telecommunications, entertainment, and medicine for training, developing easy mobile application, designing games, and enabling easy surgery simulation, phobia treatment, and robotic surgery. Increasing use of VR applications in different industries is driving growth of the market across India.

Key deterrents to the growth of the market:
Although the Indian VR market operates with the help of several large, small, domestic and international enterprises, the technological infrastructure of the country lags behind that of the advanced economies like China, the United States of America (U.S.A), and Japan. Also, the Indian parents are often not ready to let their children use VR applications extensively through games, movies, or other forms of entertainment, or even education for they fear that it might develop addiction among kids. As a result, use of VR applications in India is limited to specific play stations at supermarkets, or in the form of headgears sold with smartphones.

Companies covered:

o IndiaNIC Infotech Limited
o Juego Studio Private Limited
o Meraki Virtual Reality Studio
o Merxius Software Private Limited
o Quy Technology Private Limited
o SmartVizx Private Limited
o Tata Elixsi
o Xenium Digital Private Limited
o Yudiz Solution Private Limited
o Zatun

The post Virtual Reality Market in India (2018-2023) first appeared on CRI Report.

Market Analysis
Virtual reality (VR) is changing the manner in which we connect with the environment and the objects around us. Expanding adoption and usage of augmented or virtual reality in different areas is driving the development of the global virtual reality market. Virtual presents a 3D computerized environment which an individual can explore and interface with. It is expected that the global virtual reality market would surpass the value of USD 100 Bn by the year 2027, growing at a CAGR of 37.4% during the evaluation period (2017-2027).

Additionally, the extensive use of the VR as a business strategy is enticing the users to buy the product. This, on one hand, is increasing the sales of the HMDs. The growth opportunities of the market may emerge from improvised networking advancements like 5G and enhanced adoption of VR headsets. However, the higher manufacturing expenses relating to system-on-a-chip (SoC) can cause a hindrance in the growth of the global virtual reality market.

Market Segmentation
The global virtual reality market is classified on the basis of its component, device type, technology, industry vertical and regional demand. By component, the global market has been classified into software and hardware.

Based on its device, the market has been divided into gesture tracking devices, head-mounted displays, display walls and projectors, and 3D cameras. Based on its technology, the market has been bifurcated into semi-immersive, non-immersive, and fully immersive.

In terms of its industry verticals, the market is segmented into industrial, healthcare, aerospace and defense commercial, consumer electronics and others.

Regional Analysis
The market segments have been analyzed under six major global regions such as North America, Europe, Latin America, Asia Pacific, the Middle East & Africa (MEA) and Rest of the World (RoW).

Major Players
Some of the key players in the global virtual reality market include companies like Samsung Electronics Co. Ltd., Google LLC, Facebook, Microsoft Corporation, Sensics, Inc., Sony Corporation, Avegant Corporation, Sixense Entertainment, EON Reality, Vuzix Corporation, Qualcomm, among others.

The post Global Virtual Reality Market Research Report – Forecast till 2027 first appeared on CRI Report.