Greenlight, an American VR/AR research firm, has issued a location-based VR market report "The State of Location-Based Virtual Reality in China" in China. According to the report, it is expected that by 2023 the VR integrated aircraft will grow at an average annual rate of more than 30%.
This report examines the expansion of the location-based (facility-based) VR/AR/MR market in China. The key factors of VR development and growth in the future are discussed.
According to Greenlight's estimate, the average annual growth rate is 34.1% between 2018 and 2023, and the market size in 2023 is $1.3 billion (about 140 billion yen).
In addition, three examples are given to illustrate the main points of market expansion.
Improvement of Consumer's Cognition of VR
It has been about three years since location-based VR began operating in China, the report said. Consumers'awareness of media exposure has also improved, as have devices and content. As a result, the user experience has become better.
On the other hand, the main reason for the expansion of the market is the lack of Chinese content.
Construction of Facilities in Grade 2, 3 and 4 Cities
Greenlight shows that young people living in Tier 2 - 4 cities have higher disposable income and more leisure time than those living in Tier 1 cities like Beijing. The reason is that the rent is low and the working time is short.
The report suggests that while these cities are competitive, there are opportunities for location-based VR because entertainment spending can be foreseen.
Initial investment decline
PC VR head space, need large-scale initial investment location basic VR. Greenlight's cut in this investment is a holistic headdress. It allows you to walk freely in your daily life. It also makes your computer look cheaper and saves unnecessary costs.
Overall, HTC's Vive Focus and Facebook are expected to launch oulus Quest in the spring of 2019 as an example.
Greenlight: In 2023, VR integrative machine sales will grow at an average annual rate of 30%. Location-based VR (facility-based VR) experienced in game centers and shopping malls has been paid attention as one of the key factors of VR popularization.
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