With a 5-year growth rate of 6.9%, China’s economy is currently outpacing the world and is projected to reach $19.9 trillion by 2022. With China’s government focused on supporting hyper-growth sectors, such as virtual and augmented reality, with accelerated 5G infrastructure and political directives, such as the National Education Planning in the 13th Five Year Plan, it is important to assess, "Is China Still The Hot Spot For Virtual Reality Market Growth?"
Still A Hotspot for Growth
The Chinese virtual reality landscape has experienced significant changes in 2017 and 2018, particularly within its explosive out-of-home entertainment market segment. Currently valued at $1.6B, future growth of the Chinese VR market will be driven by demand from domestic enterprise firms for head-mounted displays and related other hardware, according to a new report released by Greenlight Insights & Yivian VR.
Greenlight Insights clients can read the full report: "2018 China Country Report
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Greenlight Insights is the world’s leader in virtual and augmented market intelligence and provides information solutions to global technology, entertainment, and marketing professionals to help them make strategic decisions about the future of immersive technology. Visit www.greenlightinsights.com for more information and follow @AskGreenlight on Twitter.