#China's #VirtualReality Industry to Reach Global Cutting-Edge Level by 2020  #VR
  • (Yicai Global) Sept. 27 — China’s virtual reality (VR) equipment shipments will reach 8.2 million by 2020 and the market size will exceed CNY55 billion (USD8.3 billion), with the technology and applications in certain fields to reach the world’s cutting-edge level, predicts China Center for Information Industry Development (CCID Group), which owns investment consulting and data management company, CCID Consulting Co. [HKG:8235].
  • The first China Virtual Reality Innovation & Entrepreneurship Competition was hosted by the CCID and the Industry of Virtual Reality Alliance in Beijing yesterday.
  • Currently, the virtual reality industry is ushering in a rapid development period.
  • The Competition will select talents and outstanding projects from small- and medium-sized enterprises and startup teams engaged in the research and development, production, sales and other segments of the virtual reality industry chain.
  • However, the virtual reality industry in China remains dominated by start-ups, resulting in the low industry maturity, insufficient mastery of key technology, improper ecological application, talent shortage and other issues.

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