Representative companies in the industry: ByteDance; iQiyi; HTC Communications; Lexiang Technology; Manheng Digital; Ruiyue Information; Zhongke Chuangda; Migu Culture, etc.
< p>Core data of this article: equipment shipments; market size; market shareIndustry overview
1. Definition
China Academy of Information and Communications Technology’s review of Virtual Reality The connotation of VR) is defined as: products and services involving the construction of immersive and virtual-real immersive experiences with the help of new generation information and communication technologies such as near-eye display, perceptual interaction, rendering processing, network transmission and content production.
According to the terminal category of virtual reality (VR), based on product form, it can be divided into mobile phone (Screenless Viewer), host type (Tethered
HMD), and all-in-one (Standalone) HMD).
2. Industry chain analysis: wide industrial chain coverage
China’s virtual reality (VR) industry chain mainly includes hardware, software, content production and distribution, and downstream applications and services. Big plate. The hardware includes core devices, terminals and supporting peripherals, the software includes support software and software development toolkits, content production and distribution includes content production and distribution, and downstream applications and services mainly include education, medical care, services and other fields.
Industry development history: The industry has entered a period of rapid development
Compared with the world, the development of virtual reality (VR) in China started late. The development process of virtual reality (VR) in China can be roughly divided into four stages, namely the technology accumulation period, the explosion period, the trough period and the recovery period.
Before 2012, it was a period of technology accumulation in the industry. Virtual reality evolved from conceptual descriptions in novels, to the generation of concepts, the initial formation of virtual reality theory, and then to the research and development of virtual reality technology. Virtual reality technology gradually Get out of the lab and into the form of a tangible commodity.
2012-2016 was an explosive period for the industry. VR technology innovation exploded, hardware products were continuously launched, and a large number of VR players and capital began to pour in. HTC cooperated with Valve to launch HTC
Vive, iQiyi established Dream Bloom, the predecessor of iQiyi Smart, entered VR.
From 2016 to 2018, due to the impact of the macro environment and content production issues in the VR industry, some VR companies that lacked competitiveness were cleared from the market.
At the end of 2018, my country issued the first policy document titled "Virtual Reality", "Guiding Opinions on Accelerating the Development of the Virtual Reality Industry", which reflects the Chinese government's commitment to the development and application of the virtual reality industry. of attention. At the same time, the "14th Five-Year Plan" points out that the VR/AR industry should be listed as one of the key industries of the digital economy in the next five years. The VR industry has entered a period of rapid development.
Industry policy background: Policies continue to increase, accelerating industry penetration and integration
Since the birth of VR technology, the country has paid close attention to it. With 5G high-speed transmission, the Internet of Things, and artificial intelligence With the emergence of intelligent, flexible display, mobile high-performance graphics computing cards and other technologies, the application of virtual reality technology has become one of the key development directions in our country. Since the Ministry of Industry and Information Technology of my country released the "Integrated Development Plan for Informatization and Industrialization (2016-2020)" in 2016, my country has gradually begun to support technological breakthroughs and innovations in virtual reality in the technical field; at the end of 2018, my country introduced the first "Virtual Reality Development Plan" The policy document titled "Guiding Opinions on Accelerating the Development of the Virtual Reality Industry" reflects the importance that the Chinese government attaches to the development and application of the virtual reality industry. From 2020 to 2022, my country has introduced a series of virtual reality-related policies to accelerate the in-depth application of virtual reality in various fields in our country. In 2021, most provinces and cities in my country have issued relevant policies on virtual reality applications. Application areas include cultural media, industrial manufacturing, smart cities, etc.
Current status of industry development
1. China’s virtual reality (VR) equipment shipments are increasing year by year
Data from Shenzhen Artificial Intelligence Industry Association and IDC show that in 2018 -China’s VR headset shipments will continue to grow in 2021. China’s VR headset shipments will reach 3.65 million units in 2021, a year-on-year increase of 13.5%.
Note: The data for 2018-2019 comes from IDC, and the data for 2020-2021 comes from Shenzhen Artificial Intelligence Industry Association.
2. The shipment volume of mid-to-high-end VR equipment is growing rapidly
According to data from the Shenzhen Artificial Intelligence Industry Association, in 2021, China’s VR headset shipments of products with a unit price of more than 1,000 yuan will be 177. million units, a year-on-year increase of 103.6%, accounting for 48.5% of total sales; VR headsets priced below 1,000 yuan shipped 1.88 million units, a year-on-year decrease of 19.9%, accounting for 51.5% of total sales. This shows that the overall price of virtual reality (VR) equipment has increased, mainly due to the increase in shipments of mid-to-high-end products. In the future, with the further improvement of VR equipment production technology, the manufacturing cost of VR equipment will be reduced, and the market price of VR equipment may be reduced.
3. The market size of China’s virtual reality industry continues to grow
With the strong promotion of policies and the growth of market demand, the market size of my country’s virtual reality industry has maintained rapid growth in recent years. According to data released by CCID, the market size will reach approximately 27.89 billion yuan in 2021. As technology matures, the application of virtual reality in various fields is gradually expanding.
4. Insufficient content has become the main factor affecting VR demand
Overall, China’s virtual reality (VR) equipment will be in a situation of oversupply in the short term, mainly due to domestic At present, there are still deficiencies in the VR hardware content ecosystem. According to Perkins
Coi’s survey data demonstration, among the factors affecting users’ use of VR in 2021, 27% of users believe that the current VR-related content is of low quality, limited quantity, and not very accessible, while phenomenal content It is even rarer.
Industry competition pattern
1. Enterprise competition
(1) List of China’s top 50 VR companies
2021 at the World VR Industry Conference , the Virtual Reality Industry Alliance has released the list of "China's Top 50 VR Companies" for the third consecutive time. The specific list is as follows:
(2) Market share: DPVR shipments rank first in China
Based on the market share of Chinese VR hardware companies and global VR hardware equipment shipments published by IDC, the shipment volume of Chinese VR hardware companies is calculated, and then the market share of Chinese VR hardware companies is calculated based on the Chinese VR hardware equipment shipments. DPVR has the highest market share at 15.7%, and DPVR has a market share of 14.2%.
2. Regional competition: Beijing leads the industry
According to the list of "China's Top 50 VR Companies" released by the Virtual Reality Industry Alliance in 2021, Beijing leads the list of the top 50 VR companies in China in 2021. Industry, there are 26 Beijing companies among China's top 50 VR companies in 2021, and Guangdong, Shanghai, and Jiangxi form the second echelon.
Industry development prospects and trend predictions
1. Accelerated integration of VR+ industry applications, innovation and optimization of business models
In the future, as virtual reality technology continues to advance, the industry Software and hardware performance optimization iterations and price reductions are rapid. Performance indicators such as display resolution, frame rate, degree of freedom, delay, interactive performance, weight, and dizziness of virtual reality (VR) devices are increasingly optimized, and products are becoming thinner, lighter, and ultra-clear. By accelerating evolution and adding the development and application of high-performance chips and other software technologies, user experience will continue to improve. The virtual reality (VR) market is rapidly expanding, opening up new space for explosive growth in the virtual reality industry.
2. Virtual reality applications have broad prospects and the industry has huge room for development
As a typical field of integration and innovation of new generation information technology, the key technologies of virtual reality (VR) are becoming increasingly mature and are widely used in mass consumption. There are broad application prospects in and vertical industries, and there is huge room for industrial development. According to the 2022 V1 version of IDC's "Global Augmented and Virtual Reality Spending Guide" released by IDC, the Chinese market is expected to have a CAGR of 43.8% in the next five years, ranking first in the world. Accordingly, it is expected that by 2027, China's virtual reality (VR) ) industry market size may reach 246.6 billion yuan.
For more detailed research and analysis on this industry, please refer to the "China Virtual Reality (VR) Industry Market Forecast and Investment Strategic Planning Analysis Report" by the Qianzhan Industry Research Institute.