NEW YORK, Oct. 25, 2016 /PRNewswire/ -- Augmented Reality (AR) offers real time display of real-world images with computer generated information, while Virtual Reality (VR) involves a computer generated virtual environment presented to the user in such a way that it resembles reality. Over the past few years, AR & VR market has been growing in India on account of increasing penetration of head-mounted displays in entertainment & gaming industry, rising defense spending coupled with surging demand in the country's healthcare sector. Over the next five years, anticipated growth in the country's defense budget, and rising demand for AR & VR enabled products for training purposes are expected to emerge as the major factors driving demand for AR & VR products in defense industry.
According to "India Augmented Reality and Virtual Reality Market By Product Type, By End-user, Competition Forecast and Opportunities, 2011 – 2021" India AR & VR market is projected to grow at a CAGR of over 55% during 2016 - 2021. Increasing AR usage for enhancing gaming experience, growing penetration of head-up displays in the automotive sector, rising use of AR in pico projectors, etc., are driving the AR & VR market in the country. India AR & VR market is a highly fragmented market, with several global majors such as Microsoft, OculusVR, Samsung, Sony, etc., operating across the value chain. "India Augmented Reality and Virtual Reality Market By Product Type, By End-user, Competition Forecast and Opportunities, 2011 – 2021" discusses the following aspects of AR & VR market in India: