As per a recent report from Arthur D Little, the Web3 and Metaverse market opportunity in India is expected to grow at an annual rate of nearly 40% with a potential to become a $200 billion industry by 2035.
The Metaverse is the blend of real & digital world and creation of multi-sensory digital immersive experiences, delivered through the technologies such as Augmented Reality (AR), Virtual Reality (VR) and Mixed Reality (MR). The market of Metaverse will be built by these technologies supported by design and business ideas. There will be a requirement of talents for specialized hardware, software, rendering engines, platform, content and apps to build the ecosystem in India over the next one decade.
Augmented Reality (AR) is a technology that superimposes digital information, such as photographs, videos, or 3D models, on top of real-world surroundings. It improves our impression of Reality by fusing virtual and physical aspects. AR can be accessed via various devices, including smartphones, tablets, smart glasses, and heads-up displays. AR allows users to engage with virtual and real-world things simultaneously by superimposing digital content onto the actual environment. It has uses in gaming, education, healthcare, architecture, marketing, and other disciplines.
“I feel that Augmented reality is perhaps the ultimate computer.”
— Satya Nadella.
Virtual Reality (VR) creates a computer-generated, simulated environment that immerses viewers in a completely virtual world. Wearing a VR headset or goggles isolates users from their physical surroundings and transports them into a digital universe. VR technology detects user head movements and adapts the visual display to provide a sensation of presence and immersion. Through specialised controllers or sensors, users can interact with the virtual environment. VR can be used for gaming, training simulations, virtual tours, therapeutic experiences, design and prototyping, and other purposes.
“Virtual Reality is really a new communication platform. By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures.”
— Mark Zuckerberg.
People all around the world are already using AR-VR technologies, even if they are not aware of it. It has already begun to revolutionise specific industries, and it has the capacity to do so in others. Many individuals all across the world participated in Pokemon GO, in which they ran around capturing Pokemon (fictional creatures) with their smartphones. Over 3000 million users have downloaded Snapchat and use it to apply various effects to their images while they are being captured. Lenskart, an Indian firm, allows clients to test eyeglasses online in real time using augmented Reality. It builds a 3D mesh of the face in 5-10 seconds using AR technology, and you may then try on as many eyeglasses as you like before purchasing.
Source: stambol.com
These are some of the most prevalent AR/VR technology applications in everyday life. However, the technology can be used in a variety of other fields. The following are some of the areas where AR-VR is being employed and has the potential to make a significant impact in the near future:
• Education
• Training and Development
• Gaming
• Marketing & Advertisements
• Healthcare
• Interior Design
• Ecommerce and Retail
• Tourism and Travel
• Real Estate
• Aviation
• Defence
• Transportation
• Construction
• Manufacturing
Source: services.harman.com
As previously said, Augmented Reality and Virtual Reality; AR-VR technologies are generally accepted by a wide range of industries and have the potential to grow exponentially. There will be numerous possibilities and opportunities available in the section in the coming years, including those for the positions of Software Developer, Graphic Engineer, Software Engineer, XR gameplay and tools engineer, Game Developer, Graphic Designer, UI/UX Developers, Test Engineers, Cybersecurity experts, Mixed reality artist, and others, and students must decide whether or not to pursue them. IIT Jodhpur offers an hybrid M.Tech course in AR and VR for B.Tech/MCA/MSc graduates who are eager to take on the challenge and thrive in the field.
How IIT Jodhpur gives you the edge to excel:
1) Experienced Faculties – The program comprises faculties from across the nation. Their knowledge combined with years of experience will prove vital and significantly facilitate the learning of students.
2) Fully Equipped Labs – The program offers an immersion program which includes a campus visit every semester which will help students to visit labs and gain practical knowledge.
3) Structured Course – The course is well structured and curated by expert faculties. This ensures students become familiar and well versed with the technology
4) Networking Opportunities – Students with different backgrounds and various work experience will connect together on a common platform. This provides an excellent opportunity for them to grow their network and be enlightened of developments in different domains.
5) Become IIT Jodhpur Alumni – Becoming an IIT Alumni will provide access to a network of successful individuals, opening doors to numerous career opportunities.
Role of iHub Drishti to support you in Career Development
iHub Drishti is the Technology Innovation Hub (TIH) [A Section 8 Company] at IIT Jodhpur focussing on Computer Vision (CV), Augmented Reality (AR), Virtual Reality (VR). The hub, established by Department of Science and Technology (DST), Government of India, has set up state of the art infrastructure including Mixed Reality Lab, Digital Gaming Lab, Real Time Computer Vision Lab, Seeing and Sensing Lab, Visual Computing Lab, Data Annotation Lab, Radio genomics Lab, Vision Based Industry 4.0 Lab, Vision Based Autonomous Systems Lab and Drone Lab over 30,000 square feet area. The hub has already funded 50+ research projects which include digitization of museums, gamification of archeological sites, AR VR applications (including games), AR VR based medical simulators, radiogenomics, vision based industry 4.0 solutions, telemedicine solutions, and Smell (Olfactory) rendering Device for Immersive Experience, and many others. iHub Drishti along with other 5 hubs has been recognised in the readout of President Biden’s meeting with Prime Minister of India on May 24, 2022 in The White House Release for Indo-US (TIH-NSF) collaboration in cutting edge research. iHub Drishti has funded Indian researchers to collaborate with US researchers from University of Buffalo, University of South Florida and Florida State University. Just concluded NSF-TIH meeting on May 22nd and 23rd, 2023 in Baltimore, Maryland, US signifies the sound progress of these research projects, and also paves the way for strong future collaborations.
The participants of the M.Tech AR VR program will get access to iHub Drishti Labs, and can take up their Master Thesis to develop solutions to industry and business use cases using the latest tools and high end compute resources available with iHub Drishti such as DGX A100 and Omniverse.
iHub Drishti also offers Entrepreneurship Development programs such as Startup Incubation, Seed Support, Entrepreneurs in Residence (EIR) and Promotion and Acceleration Of Young And Aspiring Technology Entrepreneurs (PRAYAS).
India Growth Story
Post pandemic and with the current geopolitical situation, the world is passing through uncertain times. Germany, Europe’s largest economy, is officially in recession with inflation, higher interest rate and consecutive quarters of negative growth. The story is almost the same in other European countries. There is depression in the US as well, as The Federal Reserve increased its key interest rate recently by 0.25 percentage points - its 10th hike in 14 months. On the other hand, India has shown resilience in this uncertain time, and data released a few days back showed 7.2% growth in FY23. Going for masters in the US and Europe is still a very attractive option for many Indian students. However, looking at the current macroeconomic scenario and uncertainty across the globe on one side, and the rise of India on the other side, students and working professionals may rethink the strategy for higher education, considering the return on investment (ROI), quality of education, and job opportunities. Investing around INR 3.6 Lakh over two to three years without leaving a job for master level quality education and training in the emerging and promising technologies from an IIT may prove to be a wise idea.
