India Virtual Reality Applications Market Outlook to 2030

India Virtual Reality Applications Market Overview

• In the last five years, theIndia Virtual Reality Applications market has experienced substantial growth, this is reflected by the India virtual reality market reaching a valuation of USD0.70 billion in 2023 driven by increased adoption of VR technologies in various sectors, including entertainment, healthcare, and education.
• Major players in the Indian VR applications market include Tata Consultancy Services (TCS), Tech Mahindra, Wipro, Infosys, and Virtalis. These companies lead the market through innovative VR solutions and strategic partnerships.
• Tech Mahindra has not launched a new VR platform aimed at enhancing remote collaboration and training in 2023. The search results indicate that Tech Mahindra has partnered with Amazon Web Services (AWS) to build a sports cloud platform that will offer immersive experiences using AR/VR and metaverse gamification for sports fans.
• Mumbai, Bengaluru, and Hyderabad are the dominant cities in the Indian VR applications market. Mumbai leads due to its role as a major financial and technological hub, Bengaluru is recognized for its tech innovation and startup ecosystem, and Hyderabad is growing rapidly in the tech sector.

India Virtual Reality Applications Market Segmentation

The India Virtual Reality Applications market is segmented by various factors like application, technology, and region.

• By Application: The VR applications market in India is segmented by application into gaming and entertainment, education and training, healthcare, and others. In 2023, the gaming and entertainment segment dominated the market due to the high demand for immersive gaming experiences. The popularity of VR gaming among consumers and investments by gaming companies contribute to the dominance of this segment.

• By Technology: The market is further segmented by technology into hardware-based VR, software-based VR, and mixed reality (MR). Hardware-based VR was the leading segment in 2023 due to advancements in VR hardware and decreasing prices. The development of more sophisticated and affordable VR equipment has driven the growth of this segment.

• By Region: The VR applications market is segmented by region into North India, South India, East India, and West India. In 2023, North India dominated the market due to its large consumer base and substantial investments in technology. South India, with cities like Bengaluru and Chennai, follows closely due to its strong tech industry presence and innovation in VR solutions.

India Virtual Reality Applications Market Competitive Landscape

• Tech Mahindra: In 2024, Tech Mahindra has recently launched a new VR collaboration platform that has garnered positive feedback from major clients, who are adopting it for virtual meetings and training. This platform is designed to enhance remote work and training experiences by providing high-fidelity VR environments.
• Wipro: In 2023, Wipro announced a specialized solution for AR-enabled training, especially for equipment and hardware/products. This allows users to visualize the equipment in 360-degree 3D animation and understand its usage and troubleshooting providing an immersive and interactive experience.

India Virtual Reality Applications Market Analysis

India Virtual Reality Applications Market Growth Drivers

• Increasing Demand for VR in Healthcare: The demand for VR applications in the healthcare sector is rapidly growing due to the need for advanced training tools and patient treatment methods. As of 2024, the Indian government has allocated INR 500 crore for digital health innovations, including VR technologies for medical training and therapy. This funding supports the development and implementation of VR solutions that enhance surgical precision and patient rehabilitation, addressing a need for modernized healthcare tools.
• Expansion of VR in Educational Institutions: Educational institutions are increasingly adopting VR for immersive learning experiences. The Indian education sector spend over USD 6 billion on AR and VR technologies in 2023. This initiative aims to improve learning outcomes by providing interactive simulations for complex subjects, driving growth in the educational VR sector. The program supports the adoption of VR in classrooms across India, boosting its market presence.
• Growing Investment in VR Startups: There is a surge in venture capital investment in VR startups, driven by the growing interest in innovative applications. In 2024, Indian VR startups secured over INR 200 crore in funding from venture capitalists, reflecting strong investor confidence in VR technologies. This influx of capital supports the development of new VR applications and technologies, fostering innovation and contributing to the market's expansion. The increased funding accelerates the growth and competitiveness of the VR industry in India.

India Virtual Reality Applications Market Challenges

• Limited Content Availability: The availability of localized VR content is limited, which impacts the adoption rate in India. As of 2024, only a small portion of VR applications are tailored to the Indian market, leaving a gap in content that addresses local languages, cultures, and industries. This lack of localized content hampers the market’s growth by reducing the relevance and attractiveness of VR solutions for Indian users.
• Technical and Infrastructure Constraints: Technical and infrastructure challenges pose obstacles to the widespread adoption of VR technologies. In 2023, majority of urban areas in India lacked the necessary high-speed internet connectivity to support advanced VR applications effectively. The insufficient infrastructure affects the performance of VR solutions, leading to suboptimal user experiences and limiting the market’s growth potential.

India Virtual Reality Applications Market Government Initiatives

• Digital India VR Initiative: The "Digital India VR Initiative," launched in 2024, aims to boost the adoption of VR technologies across various sectors. The initiative includes INR 400 crore in funding for VR startups and grants for research projects. This government effort is designed to promote innovation in VR applications, support industry growth, and improve the integration of VR technologies in key sectors such as education, healthcare, and tourism.
• National VR Research and Development Fund: In 2023, the Indian government established the "National VR Research and Development Fund," with an allocation of substantial amount to support VR research and development activities. This fund aims to advance VR technology through academic research, technology development, and industry partnerships. The initiative is intended to drive technological advancements and enhance the competitive edge of Indian VR companies.

India Virtual Reality Applications Future Market Outlook

The India virtual reality applications market is poised for remarkable growth, driven by expansion of VR in healthcare and education, rise of VR-based consumer entertainment experiences, and development of VR infrastructure and ecosystems.

Future Market Trends

• • Expansion of VR in Healthcare and Education: By 2028, VR applications in healthcare and education are projected to significantly expand. The integration of VR into medical training and patient care is expected to enhance the effectiveness of these sectors. The Indian government’s continued investment in digital health and educational technologies will drive this growth, supporting the development and deployment of advanced VR solutions.
  • Rise of VR-Based Consumer Entertainment Experiences: The consumer entertainment segment, particularly VR gaming and interactive experiences, is anticipated to grow rapidly. Advances in VR hardware and content creation are expected to lead to more immersive and engaging entertainment options. The increasing availability of high-quality VR content and devices will drive consumer interest and market expansion.