- Mar 09, 2023
Innovate Labs earlier this month, November 2022, was recognized by Silicon India Startup City among the top 10 AR/MR start-up of 2022 in India. This recognition is given to Innovate Labs for its unique solutions leveraging immersive technologies for industrial deployment.
As per the McKinsey, Technology Trends Outlook published in August 2022, the Immersive-reality technologies market size by 2035 is expected to be $1.2 trillion with a huge push coming from the growing B2B adoption with an approx. 66% CAGR in enterprise adoption of AR through 2026. In the past, a lot of start-ups in the AR/VR/MR space were focused on B2C due to some reasons which pushed B2B players to overlook the applications of Augmented Reality and Virtual Reality such as the assumption that immersive technologies as a service and concept are complicated to learn or adopt and could be very expensive & uneconomical to deploy.
But projecting the future demand and ease of adoption by the B2B players, Innovate Labs is taking the path less traveled and is focused on solving real-world problems at the industrial level starting with India.
“Making it to the 10 AR/MR start-up of 2022 in India is a true testament to the great team that we have at Innovate Labs and the way we have been able to experiment with new use cases and techniques to develop unique and custom solutions for a variety of industries. The last two years due to COVID year were indeed tough but the pandemic pushed industries around the world to think differently and offer new and innovative ways to engage, support, and service customers remotely.
At Innovate labs, our core team comes with a large industrial experience including a high level of expertise in AR/VR/MR deployment along with a deep-rooted understanding of the actual industrial work environment and challenges. Hence, we are able to adapt the technology to the challenges and issues faced in real-life scenarios and improve the efficiencies above conventional ways.” said Atul Marwaha, Founder and Managing Director at Innovate Labs.
The wide acceptance by the Indian market of immersive technology solutions such as Innovate Labs Design Xperience Suite, Industrial Metaverse Concept, Contextual AR/IoT data visualization, and interactive documentation demos is a validation of a great product development strategy and Innovate Labs is already thinking about international presence in countries such as Europe, North America, and the Middle East in near future.
About Innovate Labs: Innovate Labs is a disruptive technology startup in the immersive reality space based out of Gurugram, India. The company aims to be the industry thought leader in immersive and Web 3.0 technologies and be the preferred industry partner in providing innovative solutions and products addressing real-world problems.
The company believes in innovating at a level that elevates the day-to-day experience of the end users while at the same time bringing more efficiencies and reducing costs for the clients. Therefore, employees at Innovate Labs are given dedicated hours to experiment and test new used cases and challenge the status quo to bring unique perspectives on how immersive technology can solve a business’s needs & problems.