IAMAI Forms AR/VR Committee To Promote The Technologies In India

The AR and VR is expected to reach a market size of $209.2 billion by 2022, according to an estimate by Statista.

The Internet and Mobile Association of India (IAMAI) has formed a new industry expert committee to develop and promote an augmented reality/virtual reality (AR/VR) ecosystem in India.

The committee is a step in IAMAI’s efforts to evangelise the nascent technology’s ability to drive economic growth, job creation, and skill development in the country.

The group will look to identify opportunities and challenges to help India’s AR/VR ecosystem, in partnership with the government, industry and startups.The committee would also closely work to develop potential sectors like healthcare, tourism, auto, agriculture, education and skill development.

On the agenda of this committee will be the nurturing of India’s AR/VR technology and talent ecosystem by driving particularly driving skill development. It will also be engaging with business, industry and government to evangelize the acceptance of the technology, along with helping drive training workshops, to familiarise potential users with technology and build use cases, in key sectors.

The committee is chaired by Namrita Mahindro, Senior General Manager, digital transformation, Mahindra Group and co-chaired by Satyajeet Singh, Head –Strategic Product Partnership, India and South Asia, Facebook.

Other members of the committee include Vaibhav Kumar Yadav, product head- JioCinema and GM, Reliance JIO, Ajit Kumar, Partner, Deloitte Digital, Mahesh Prabhu, VP-Global Head of Innovation, ITC Infotech.

“Immersive technologies like AR/VR and mixed reality will become the new engines of values creation in the experience economy…However, in order to be more effective and scale AR/VR to become mainstream needs industry, the government and academia working in synergy,” said Mahindro.

According to a Market Pulse report by GrowthEnabler, the Indian AR/VR industry is expected to grow at a compounded annual growth rate of 76 percent by 2022.

According to an estimate by Statista, the AR and VR is expected to reach a market size of $209.2 billion by 2022.

Tech giants are already taking the technologies seriously as is evident in their acquisitions- Google bought eye-interaction based AR/VR firm Eyefluence, Facebook acquired Oculus which makes hardware and software VR products, while Apple bought augmented reality firm meta.io.

“AR and VR technologies are making their mark across domains and Indian startups’ foray in the space of emerging tech is only the beginning…As a part of this committee, we want to fuel homegrown emerging technologies ecosystem; enabling AR/VR ventures with the knowledge and help them navigate andharvest the growing opportunities in this new age emerging tech ecosystem,” said Facebook’s Singh. – Money Control