Virtual Reality Market in India Driving Growth!
16-sep-19 The adoption of virtual reality (VR) in industries like automotive, medical, aerospace and defense, gaming, retail, education, and entertainment are being driven by its benefits in training, conferencing, and communication. In India, the rate of adoption of innovative VR applications such as a head-up display and head-mounted display is rising, leading to generation of considerable funding. In 2013, the Indian VR market generated funds worth INR 7.04 Bn, while in 2017 the market had generated funds worth INR 122.44 Bn, thus rising at a compound annual growth rate (CAGR) of 104.24% for that period. 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 eq...