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Mixed Reality

July 24, 2020
Fintech

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New Normal, Digital Transformation, Industry 4.0

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Mixed Reality

24 July 2020

The new normal of life has increased the involvement and dependence of technology in the day to the day activities. With the help of converging technologies like mobile, cloud, analytics, robotics, AI/ML, 4G/5G, there is a lot of innovative approaches that has been established and reintroduced for the consumers in larger interest.

The Mixed Reality technologies landscape has changed over the course of time. In the past few years of the introduction Gaming, Media and Entertainment were the major applications area. But during the present course of time the capacity of usage of MR in India has increased to automotive, manufacturing, transportation, architecture, animation, education, and healthcare.

According to Nasscom, India’s Immersive Mixed Reality Technology is slated to become a US $6.5 billion market by 2022. The two of the most deployed MR technology include Augmented Reality and Virtual Reality. There is huge opportunity ahead of which the AR and VR market is estimated to be about $5.9bn and $0.5bn worth respectively. As per IDC, the global AR and VR spend stood at USD 10.5 bn in 2019 and is expected to reach USD 103.1 bn. by 2023.

The key market developments during these time ahead would be in the areas of –

  • Product Customization
  • Virtual Training/Education/Meet
  • Customer Service
  • Virtual Operations Management

The biggest drivers in India in the times ahead is because of –

  • Expected next year arrival of 5G in India which would boost the potential of implementation and usage of MR
  • Change in definition and medium of content delivery, work flow module and business operations and management
  • Change in adoption of Hardware Unit setup including the headsets, display units, high powered processors, close to reality display(8k) resolutions
As Mukesh Ambani quotes at the currently concluded AGM/launch event,

“furthering India’s inclusive and accelerated growth, propelled by the adoption of digital technologies, that helps improve the lives of 1.3 billion Indians…Their support further strengthens our resolve as we firmly set forth to build a New India”.

All the major tech companies are venturing into smart eyewear segment, with the latest addition of Jio Glasses by RJio, Apple and Facebook working on the proof of concept model, Microsoft Hololens (limited to developers), Google Glasses (enterprise version) launched back in 2014, and Amazon working on its Echo Frames. Therefore, currently the market is attracting a lot of deeptech players for the assembly setup and future implementation. The scope is equally huge in India which would enable the cause of improving the economy, lifestyle and living in India.

Prateek Bebortha, SAATRA Capital

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