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 reaching 120 million by 2023.
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China accounted for over 20% of global VR spending by 2022 that reached up to $65 billion in consumption (including Augmented Reality (AR)) by 2023 (and at a ten-fold increase from 2019).
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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.
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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.
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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.