India, 28 September 2023: Hero Vired – India’s premium learntech company for professionals – recorded an impressive 20% of its total revenue in the last 12 months from its Future Tech domain. Since the launch of the category in September 2022, this domain has witnessed growth, largely attributed to its pioneering position as a first mover and its key industry partnerships. In-lieu of the demand from the market, the company has today announced adding 10-12 courses in the next 2 years to enhance the focus on India’s Future Tech learning. Their expansion strategy will cover a diverse range of emerging tech programs such as Advanced Data Science, Extended Reality, Artificial Intelligence, Gaming, Esports and User Experience (UI/UX). To cater to the rapidly-changing and growing market size of Emerging Tech, Hero Vired has strategically aligned one-third of its workforce for the Future Tech domain to stay on top of the increasing demand. This forward-looking approach aligns with Hero Vired’s core mission: to catapult Bharat into a prominent role on the global tech stage.
Talking about the expansion, Ms. Sushma Bharath, Head of Programs and Partnerships at Hero Vired said, “At Hero Vired, our main goal is to empower learners with the skills and knowledge needed to excel in fast-evolving technology fields. Industries like Gaming, Virtual Reality, Esports broadcasting, game development, and game streaming are rapidly growing, making it crucial to offer programs in these areas. We’re strategically investing in and expanding our offerings in future tech domains to provide world-class educational opportunities to learners in India. This aligns perfectly with our vision to address the increasing demand for tomorrow’s skill sets.”
Hero Vired witnessed a remarkable growth in FY23, with revenue reaching a substantial 55 crores. Looking ahead, Hero Vired has set an ambitious target, aiming for a 2X revenue growth by the next financial year. To support these goals, the company maintains an active workforce of over 300 professionals, and it plans to add an additional 45-50 resources across various functions this year with almost one-third of its resources dedicated to building the Future Tech domain. These milestones underscore Hero Vired’s unwavering commitment to excellence and innovation within the Future Tech domain.
The evolving tech market is positively impacting various industries in India. The Indian Augmented Reality and Virtual Reality Market is poised to reach a remarkable USD 9.28 billion by the year 2028, exhibiting a robust Compound Annual Growth Rate (CAGR) of 28% during the forecast period 2022-2028. Furthermore, India’s gaming market is assured to witness an astounding growth trajectory from $2.6 billion in FY22 to an estimated $8.6 billion by FY27. These statistics underscore the dynamic and promising future tech landscape in India. Esports alone is projected to create more than 11,000 direct and indirect jobs by 2025. Alongside this, the country boasts a thriving ecosystem of 192 VR and 246 AR startups, which are establishing a strong base for the Indian extended reality industry.
In India, future tech is set to disrupt the defence, healthcare, media, entertainment, real estate and education industries thereby creating millions of jobs and opportunities in the next few years. In FY’23 alone, 290K new jobs were added in the Indian tech industry as per a NASSCOM report.
Hero Vired is constantly expanding its program portfolio based on the dynamic market conditions with more additions to the future tech domain alone. Acknowledging market trends, Hero Vired aims to add new programs like User Design, Artificial Intelligence, and Machine Learning to their portfolio. Hero Vired laid the foundation of the Future Tech domain with its gaming and esports program in collaboration with Nodwin Gaming in September 2022, making it one of the first programs in the country to offer both theoretical and practical knowledge in Gaming and Esports through its immersive internships. Additionally, Hero Vired will continue to build the domain with strategic partnerships with industry leaders such as Snapchat, Unreal Engine etc.