San Francisco — Greenlights Insights’ latest report, the 2019 China xR Stat Pack, provides a quick look at the Chinese marketplace for virtual (VR) and augmented reality (AR, together, xR) products for the next five years. Greenlight anticipates strong growth in head-mounted displays (HMDs) for both VR and AR in this time period. AR HMD sales will grow faster during that period, with a Combined Average Growth Rate (CAGR) of 67.8% in revenue by 2023. In that same period, AR HMD unit shipments will show a CAGR of 74.7%. This represents 2023 unit sales of just under 335,000 units valued at more than $440 million. For the same period, Greenlight expects Virtual Reality HMDs unit shipments to grow to a CAGR of 9.3% and more than 2.5 million units, valued at more than $405 million in 2023.
Natalie Yue, lead author of this report, tells us that the China market offers unique opportunities and challenges for xR marketers. “While the Chinese government provides substantial assistance to domestic manufacturers, it also creates serious barriers for certain sorts of uses. Also, we find the leadership of many Chinese business resistant to change and reluctant to try new technologies. However, the proven value of xR will force enterprise customers to adopt it simply to maintain their competitiveness in the world markets.
“In addition,” she explained, “many entertainment venues are finding that VR, and to a lesser extent, AR, offers excitement to their customers and draws people to the locations that offer these technologies. Overall, we see great potential for growth in the Chinese xR marketplace.”
The 2019 China xR Stat Pack provides many more insights. It is available to subscribers to Greenlight Insights’ Intelligence Services. To learn how your company can benefit from this information, or from the dozens of other reports Greenlight Insights publishes every year, call 415 854-3282, email firstname.lastname@example.org, or visit GreenlighInsights.com.