AR/VR Market to Register CAGR of over 50% in 5 years: Akash Ambani

The augmented reality market is likely to record a compounded annual growth rate (CAGR) of more than 50 percent in the next five years, said Akash Ambani, the eldest son of Mukesh Ambani, Chairman, RIL, during his address at the Digital Open Summit 2018.

He said that 2017 was the tipping point globally for AR/VR with accelerated momentum happening in 2018.

Besides, he also mentioned that artificial intelligence, cloud and blockchain would be the key focus areas in the near future. “Artificial intelligence projects have leveraged Open Source to enable continuous innovation – there are many examples of industry leading AI that has been contributed to the Open Source community ,” he said.

Talking on India Public Cloud market, Ambani said that it is estimated to be $2.6B in 2018, over $4B by 2020.

On blockchain, he mentioned that beyond cryptocurrency blockchain was at its core provides an open source platform for enabling transaction secured with a distributed ledger system.

“These all areas can impact every Indian in a profound and improving their day to day lives, Jio is committed more than anything else to impact positively the lives of a billion Indians by providing access to to these cutting edge technology platforms to every single customer,” Ambani said.