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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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.

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.

Research Methodology

The market study of the Indian virtual reality market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for virtual reality software and service providers, VR devices manufacturers, and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Virtual Reality Market Research and Analysis by Component
2. Indian Virtual Reality Market Research and Analysis by System
3. Indian Virtual Reality Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Indian Virtual Reality market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian Virtual Reality market.
• Insights about market determinants which are stimulating the Indian Virtual Reality market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.