The global Augmented Realty market is set to hit the $56.8 billion mark by the year 2020, with a Compound Annual Growth Rate(CAGR) of 79.6 percent between 2015 and 2020, according to a market report by research firm Markets and Markets.
And while the global growth figures seem to be encouraging for the technology,India is still in a nascent stage of its adoption, owing to the absence of a seamless mobile data connectivity as well as quality content which could facilitate individuals in their day to day activities.
”While a consistent mobile data connectivity has always been the challenge, a major number of AR applications in the country fail to provide the consumers with something beneficiary besides the wow factor,’’says Gaurav Wadhwa, Co-founder at GAMOOZ, a Gurgaon based Augmented Reality startup.
At present the technology is primarily being endorsed by e-commerce portals in engaging potential shoppers like Ray-Ban’s Virtual Mirror and Zovi’s Virtual Trial Room as well by digital marketing professionals for brand building activities with little to no penetration in other verticals.
”India is still in initial stages of AR adoption as compared to other developed parts of the world where different industry verticals are exploring the benefits of integrating the technology in their operations,” comments Imran Qureshi, Founder at Activemedia Innovations.
Industry experts also believe that education could emerge as a potential industry vertical for AR integration in years to come as it can transform the way a student gains knowledge.
”There is an immense scope for Augmented Reality in education. Imagine a young student receiving detailed information on any topic in an entertaining way by just flashing his smartphone at his textbooks similar to the Alive app being offered by Times Group. This would actually add more value to AR usage by consumers,” adds Wadhwa.
While initiatives like Digital India Plan, aiming to provide the last mile connectivity to citizens as well as the mounting smartphone penetration in the country are expected to resolve the connectivity glitches to some extent, a lack of quality content will also remains an area of concern for the technology in the country.