The Augmented Reality space seems to be taking shape in the country, as more brands opt for the technology to advertise their product and services. Additionally, more technology providers are beginning to offers services to a number of verticals in the country.
The latest company to join the bandwagon is Prisma Global, which is providing its augmented reality (AR) and image recognition (IR) services to automobile, print and construction sectors in the country.
The company’s Chairman and Group CEO Shreeram Iyer said that the augmented reality space is rapidly changing in the country with more enterprises have started to leverage the potential of the technology.
“Augmented Reality appeals to masses as its offers a complete new experience to them. On the other hand, it provides new tools to companies to advertise their offerings in an innovative way,” Iyer said.
In totality, Iyer said that broadband has to play a major role in the development of the AR ecosystem in the country. “3G has started picking up in the country, which will help the ecosystem to grow further,” He added.
Earlier, Katyayan Gupta, Analyst at Forrester Research said, “It requires a consistent 3G network to avail a convincing experience of augmented reality as GPRS would not be fast enough to provide a real-time experience.”
Prisma Global offers Snap2Life application for smartphones, which is a combination of IR (Image Recognition) and AR (Augmented Reality). The app allows users to use the mobile device for scanning an image to get desired output though its dedicated software and search engine.
Iyer said that the company’s application has the capability to work on 2G networks. With this application, the company is mainly targeting automobile, pharma, print and manufacturing companies in the country.
Iyer said that the company is in discussion with a few automobile companies in India for providing its AR solution. In Germany the company has partnerships with BMW and Mercedes.
Given the growth in the Indian AR segment, Shreeram Iyer expects PRISMA Global to earn $3.5 million revenue by the end of the fiscal 2014. “Going by the current speed, we expect our revenues to be around $12-$15 million by 2017,” he added. Iyer also informed that the company will be adding 100 people to its overall Indian operations this year.
The AR technology can help brands in providing good customer experience and can affect their businesses positively, as it could be used in marketing, as an advertising tool and for presenting information and geographical data.
Many Indian companies have already implemented AR as a part of marketing. For instance, Mahindra & Mahindra, Godrej Interio, Shopper’s Stop, Parle Agro and McDonalds India are leveraging the power of AR.
Print media in the country, is increasing tapping the potential of augmented reality. Very recently, Daily News and Analysis formed partnership with PRISMA Global to launch its AR application. Additionally, the Times of India group, also offers its augmented reality app ‘Alive’, built in partnership with AdStuck. Ahmedabad-based regional newspaper—Sandesh has its own AR app, called Sandesh Smart, built in partnership with Telibrahma.
According to a US-based research firm SEMICO, the total global revenue from augmented reality will touch INR 31,414 billion ($600 billion) by the year 2016. The research firm also predicted that more than 864 million mobile devices will be equipped with augmented reality by 2014.
Given the rapid increase in penetration of smartphone and optimistic approach of brands towards AR, the future of this technology seems bright.
-Danish Khan, Correspondent Light Reading India
Headline – Augmented Reality Set To Take Off In India
Publication – Light Reading
Edition – National
Date – 11th July 2013