China was home to an estimated 3,000 virtual reality (VR) arcades in 2016, when the market was forecast to grow 13-fold between then and 2021 to $782 million, according to a joint report by iResearch Consulting Group and Greenlight Insights.
This market potential is why the VR and augmented reality (AR) industries are excited by China.
A 2018 report from Digi-Capital said Chinese growth in the next five years could see it dominate AR/VR long-term, and not by a small margin.
A key factor in China's lead in the industry is its government. Beijing is pushing hard for China to become a world leader in next-generation technologies including artificial intelligence and autonomous vehicles.
VR has been added into that group, benefiting from a range of preferential government policies.
Several towns and cities in China have already declared themselves as incubator zones that are integrating VR into research, manufacturing, education, and other sectors.
From South China Morning Post
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