East market contributed to 40% of DcVisionVR’s total business in 2023: Dhriti Chatterjee

The AR/VR market in India is estimated to reach around $789.0 million, with a projected CAGR of 9.74% between 2024 and 2029, resulting in a market volume of nearly $1,256 million by the year 2029, as per industry reports.

A pioneer in the AR/VR industry, Kolkata-based DcVision VR specialises in the creation of immersive VR business solutions for interior designers, architects, entrepreneurs, corporates, realtors, and others. Its team of experts offers superior-quality 3D designs that bring ideas to life. Its 3D VR simulations have been designed in a way that they display one’s business, product, or property in a captivating manner leaving an enduring impression in the minds of the consumers. It provides customized VR solutions to suit one’s specific needs and services such as the creation of immersive experiences, employee training, and VR marketing. It provides an all-inclusive VR training program equipping individuals with the required knowledge and skills for working in the domain of AR/ VR/ Metaverse.The objective of DcVisionVR is harnessing the transformational power of augmented and virtual reality across diversified industries.

Dhriti Chatterjee, Founder and Director of DcVision VR, is a certified VR professional from a London University, having over 22 years of experience. She has worked with more than 150 clients, imparting her knowledge to over 1,500 students and professionals. In recent times, DcVision VR has expanded its services, including digital twinning, being an enabler for clients for the creation of virtual replicas of their physical assets, further augmenting their capacity for visualizing, analyzing, and optimizing their projects.

In conversation with Adgully, Dhriti Chatterjee, Founder and Director of DcVision VR, speaks about the current market trends, challenges, and opportunities in the AR/VR industry in the East market, the significant shift towards technological integration, growing focus on sustainability, and more.

Dhriti Chatterjee noted, “In the East Indian market, the current trends show a significant shift towards technological integration, with increased adoption of advanced technologies like VR, AI, and IoT across various industries. There is also a growing focus on sustainability, with businesses and consumers alike emphasizing eco-friendly practices and products. The e-commerce sector has seen a substantial boom, with more people embracing online shopping and digital payment methods.”

She added, “However, challenges such as inconsistent internet and tech infrastructure in rural areas, a shortage of skilled professionals in emerging technologies, and a complex regulatory environment persist. Despite these hurdles, there are numerous opportunities, particularly in the realm of digital transformation, where traditional businesses have a high potential for modernization. Local innovations tailored to specific market needs and the growing global interest in Indian tech products and services further bolster this potential. Consumer behaviour has evolved significantly, with a more tech-savvy population that prioritizes quality and value over price, and shows a clear preference for immersive and personalized experiences. In summary, the East Indian market is dynamic and poised for growth, but addressing infrastructural and regulatory challenges is essential for sustained progress.”

Commenting on the marketing/ media mix strategy of DcVisionVR as well as its market share, ad spends in the East market, and what forms the core of the creative communication process of DcVision VR, catering to the requirements of the East market, Chatterjee shared, “DcVision VR’s marketing/ media mix strategy in the East market, particularly in West Bengal, leverages a balanced combination of digital and traditional channels. We allocate a significant portion of our ad spend to digital platforms, including social media, search engine marketing, and programmatic advertising, to reach our tech-savvy audience. Traditional media like print, outdoor advertising, and local events also play a crucial role in enhancing our regional presence.”

She further said, “Our market share in the East market has been steadily growing, currently capturing a significant portion of the VR solutions segment. Ad spends are strategically distributed, with around 60% dedicated to digital media and the remaining 40% to traditional channels. The core of our creative communication process centers on delivering immersive and relatable experiences. We emphasize storytelling that resonates with local culture and values, ensuring our messages are both engaging and relevant. Our content often highlights real-life applications of our VR solutions, showcasing their benefits in sectors like real estate, architecture, and manufacturing.”

“To cater to the specific requirements of the East market, DcVision VR tailors our solutions to address local business challenges and opportunities. Our VR tools are designed to enhance customer engagement, streamline operations, and provide innovative marketing strategies, all while considering the unique needs of the regional market. This localized approach helps us build stronger connections with our clients and maintain a competitive edge in the East Indian market,” she added.

Elaborating on the focus areas for DcVision VR in 2024 in the East market and the medium in which it is investing more, she said, “In 2024, our brand’s focus areas in the East market will include expanding our technological offerings, deepening local market penetration, and enhancing customer experiences. We plan to introduce more advanced VR solutions tailored to the unique needs of industries such as real estate, architecture, and manufacturing. Additionally, we aim to strengthen our support infrastructure to ensure seamless integration and ongoing client success.”

She further informed, “Our investment strategy will continue to prioritize digital media, reflecting the growing importance of online engagement and the effectiveness of digital marketing. We estimate that around 70% of our ad spend will be allocated to digital platforms, leveraging social media, search engine marketing, content marketing, and programmatic advertising to reach a broader and more targeted audience. The remaining 30% will be directed towards traditional media channels like print, outdoor advertising, and local events to maintain a strong regional presence and connect with audiences who prefer these mediums. This balanced yet digital-first approach will help us capitalize on emerging trends, engage effectively with our target market, and drive sustained growth in the East Indian market.”

Elaborating on how DcVisionVR is leveraging digital media, technology as well as influencer and social media marketing and the marketing/ ad campaigns launched by it in 2024, Chatterjee shared, “In 2024, our brand is leveraging digital media and technology through a robust presence on social media platforms like Facebook, Instagram, LinkedIn, and Twitter. DcVisionVR utilizes VR for virtual tours and product demonstrations, and AI to personalize marketing messages and optimize ad targeting. DcVision VR’s content marketing strategy includes educational blog posts, case studies, and videos to position us as industry leaders. Partnering with industry influencers, we enhance our credibility and reach through authentic content. Key campaigns for 2024 include “Experience the Future”, showcasing our latest VR advancements; “Transform Your Space”, targeting real estate and interior design sectors; “Smart Manufacturing Solutions”, aimed at manufacturers; and “Local Heroes”, highlighting success stories of local businesses using our VR solutions. This integrated approach strengthens our market position and drives growth in the East Indian market.”

Commenting on the performance of DcVision VR in 2023 in the East market and the growth projections, and expansion plans for 2024, Chatterjee said, “In 2023, our brand achieved remarkable performance in the East market, completing 52 projects, including 7 turnkey projects. This success reflects year-on-year growth of nearly 300%, highlighting our strong market presence and demand for our VR solutions. While our operations span pan India, the East market contributed to approximately 40% of our total business, underscoring its strategic importance. Looking ahead to 2024, we project continued robust growth with plans to further expand our footprint in the East market. DcVisionVR aims to increase our project volume by 50%, focusing on deepening our engagement in key sectors such as real estate, architecture, and manufacturing. Our expansion plans include enhancing our technological capabilities, investing in local partnerships, and launching targeted marketing campaigns to drive customer acquisition and retention. By strengthening our regional support infrastructure and offering tailored solutions, we are poised to sustain our growth trajectory and solidify our leadership in the East Indian market.”