Harnessing immersive technologies responsibly
Immersive technologies are ushering in first-of-their-kind experiences and creating unprecedented opportunities worldwide and in India. Across industries, particularly in healthcare, hospitality, education and retail, businesses are charting new heights by harnessing the revolutionary power of cutting-edge technologies. Our report delves into how Indian companies are harnessing AR, MR and VR to transform the face of business and enhance customer experiences. However, the increasingly virtual world poses unique challenges that demand urgent attention from businesses and policymakers. They must come together to create a safe haven for new-age technologies to achieve their breakthrough potential. Our report brings to life the invigorating journey of XR in India and the necessary actions to keep the growth story intact. Experience how XR is opening up a whole new world of possibilities and what lies ahead.
With the market for extended reality (XR) technologies exploding in India, organizations are realizing the importance of keeping virtual at the core of how we work and live, more so during the current uncertainty.
XR is an umbrella term for virtual reality (VR), augmented reality (AR) and mixed reality (MR) technologies. XR will likely be a US$160-billion global industry by 2023, as per IDC’s May 2019 Worldwide Semiannual Augmented & Virtual Reality Spending Guide. In India, NASSCOM estimates XR spending to exceed US$6.5 billion by 2022, up from US$2 billion in 2020. The key driver will be deeper smartphone penetration, which will likely double during the period. This could imply new critical use cases for XR such as remote surgery and field monitoring across industries, including health care, manufacturing and retail. To tap XR’s full potential, business leaders and policymakers need to put in place a common vision for responsibly designing, building and deploying XR solutions.
XR Market Size
(in US$ million)
How are companies in India harnessing the power of XR technologies?
A leading infrastructure player in India, uses XR to educate its laborers on safety measures.
An online furniture player has pioneered the use of AR in helping customers to virtually place the selected furniture in their rooms to check if it meets their requirements.
A popular hotel chain in India is experimenting with XR to help guests experience staying in a room even before booking it.
India’s top education app offers an AR device that enables children to learn while playing games.
XR is helping an established real estate player in India provide customers with a view of the actual progress made on the project.
Oil and gas
An oil and gas giant has set up an XR facility to provide an interactive and simulated environment to practice field situations.
Hindustan Petroleum, an oil & gas giant, has set up an XR facility at its Petroleum House learning centre. It provides an interactive and simulated environment to practice field situations in functions such as refinery and depot. It’s helping address the challenges of traditional training methods that are fraught with difficulty, risks and come at a huge expense.
India’s top education app, Byju’s, recently acquired an educational gaming start-up called Osmo that has developed a gaming-based learning approach for children aged 4-11 years. Its AR device mounts on an iPad and enables children to interact with their environment without touching the screen.
Online furniture player Urban Ladder has pioneered the use of AR with its mobile app, Living Spaces. this tech helps customers to virtually place the selected furniture in their rooms to check if it meets their requirements. The app is helping the company make furniture selection easy and minimise the chances of returns.
Larsen & Toubro, a leading infrastructure player in India, uses XR to educate its labourers on how to operate safely at construction sites. The result? L&T’s labourers’ fatality rate has dropped to zero, safety awareness has increased by 90%, and training costs have declined by 60% - as opposed to on-site trainings that are expensive, time-consuming and not as effective.
XR is helping enhance customer experience at Lodha Group, an established real estate player in India. Most real estate companies are unable to deliver projects on time and fail to communicate the actual progress to the buyers. Lodha’s XR content will help customers view the actual progress made on the project.
OYO Hotels, the popular hotel chain in India, is experimenting with XR for an enriched customer experience. It aims to help guests experience staying in a room even before booking it. To bring these technologies to life, OYO runs a proprietary property management software called OYO OS at its partner hotels.
As XR enables the collection of personal information, exposure to unauthorized access of data can pose as a security risk.
Fake experiences generated through XR could lead to misinformation that harms individuals and society.
With personal data available, security concerns such as data breaches could damage trust and reputation of businesses.
As children’s use of technology rises, immersive environments with virtual characters could amplify cyberbullying and carry mental health risks.
Business leaders must work with various sectors to address ethical, social and regulatory risks that could come into play in virtual settings.
To reap the benefits of XR technologies, policymakers should support infrastructure investment for high-speed and reliable internet connection.
Policymakers can also help accelerate adoption of XR technologies through measures that encourage innovation for the benefit the general public.