The Chinese Virtual Reality (VR) market reached $14.06 billion by 2020 with eight million VR products for about 25 million users as well as producing 70% of global high-tech VR headsets with Chinese VR devices to reach 120 million by 2023.
China accounted for over 20% of global VR spending by 2022 that will reach up to $65 billion in consumption (including Augmented Reality (AR)) by 2023 (and at a ten-fold increase from 2019).
Complete industrial product and service clusters have also been already established with more than 50% VR content revenue from video and 46% from gaming by 2021.
Alibaba’s ‘uni-commerce’, Uni-Technology concept involving AR/VR includes Alibaba’s “magic mirror” to try on items virtually for example while Jindong uses AR in its e-commerce apps as well as providing a livestreaming VR shopping channel.
China will globally lead VR by 2025 facilitated by increases in headset production, virtual chips and screens, UX, 3D models, motion control, big data, and position tracking.
Find out more about the future of Virtual/Augmented Reality in Digital Provinces Guide: Countdown to the Chinese Century and Dawn of the Digital Dragon Dynasty: Countdown to the Chinese Century in Shop.