Future of India's App Development and AR Scenario in the Era of Metaverse

Nishant Behl, Founder, Expand My Business

India’s IT industry has experienced immense development over the recent years which has contributed to an upward trajectory in the form of a catalyst, leading to a turnaround. Due to this development, the expansion of the economy over the last decade is referred to as - Service sector-led growth. This advancement is attributed to the technological developments (such as AR-Augmented Reality/Blockchain) that have revolutionised every sector of the economy. That has led to the evolution and streamlining of the interconnectedness between the consumer and the service/business providers particularly through App Development, which establishes the first point of connection between the two. The advancement of the app development industry through the adaptation of a progressing tech ecosystem has displayed extensive potential for furthering and achieving the growth and trade goals of the Indian Economy.


The App Development Industry

India is the fastest-growing mobile internet market and a preferred terminus for the app development business. This aggressive spurt in demand is accredited to the extensive usage of apps by businesses and different sectors of the economy, as their first point of contact to the buyers and outsourcing of IT services. The app development industry has contributed colossally to the economy by furthering inclusivity and accessibility. It has generated direct employment opportunities ranging between 1,51,230-1,59,010 by 2016, the numbers have widened to a greater extent in recent years.

The worldwide revenue from the industry is forecasted to be $808.7 billion in 2022 and $935 billion in 2023. Additionally, the user penetration rate is also expected to shoot up immensely due to increased accessibility of mobile and internet services. But the major factor behind this expansion of the industry is the outsourcing of services from India due to cost-effectiveness. As the statistics suggest, app development services are relatively cheaper in India warranting the quality. It takes $25,000 to build an app in India against $80,000 in the USA. This development has been made possible with the help of a skilled, efficient and experienced workforce, quicker turnaround and multi-platform capabilities.


Augmented Reality (AR)

The most common and widely used example of AR is the Google Maps, filters in Snapchat, Instagram, Pokemon-Go and many other apps have been extensively using Augmented Reality to ensure the best service delivery to the consumers. The AR or Augmented Reality is an amalgamation of real-world and computer-generated perceptual information or virtual world through real-time interactive stimuli that provides accurate 3D virtual images, intelligent interaction or some other sensory form of interaction. The unprecedented evolution of technology has added great value to the apps by bridging the gap between real and digital space which enables the apps to extend their reach through greater functionality by augmenting the way consumers react to their surroundings.

Google Maps: The most prominent and prevalent usage which has brought AR into the everyday life of people is being done by Google Maps. With the help of AR, it helps in navigating routes and distances even while walking by superimposing directions and details on the screen. It has widely transformed the way people commute.

Snapchat: The social media app uses AR to provide face filters similar to the characters of Pixar films (toy story, soul, coco etc.). The users could transform their faces into cartoon characters in addition to filters. It is empowering content creators by introducing AR glasses to put digital creations into the real world.

These and many more apps have led to the introduction of AI in the daily lives of people, revolutionising the way people interact with their surroundings. It has wide application in E-commerce (Nike, Amazon etc.), Health care (SNAP, Accuvein etc.) and other sectors. The market value for AR is forecasted to reach at least $541.42 Billion by 2025 at a CAGR of 63.2% from 2018-2025. The advancement in AI has contributed to the upcoming and the future technology of metaverse whose invention and adaptation by the world is reliant on AI/VR in addition to the other related technologies.


Introduction of Metaverse to AR and App Development Scenario

The introduction of metaverse to AR and app development would be like adding fuel to fire. The Metaverse refers to a parallel virtual reality universe. It would complement the AR in making it more immersive, interactive and synergetic. The virtual world- metaverse - would be an incorporation of various technologies contributing to creating a universe which is considered to be a massive revenue opportunity of over $1trillion that has prompted Meta (Facebook) to spend $10bn in 2021, in expectation of subsequent high returns. AR has enhanced the user interaction and experience as it could allow users to feel or understand the application of products through its application in apps.

Big-tech companies like - Apple, Google, Microsoft among others have been working on Metaverse-related tech. Along with the new startups/businesses which are building their foundation in line to adapt to the ever-evolving technology and introduce it to the public, to optimise their users’ experience and expand their consumer base.