China's VR Content Market Is Expected to Develop Rapidly in The Next Few Years

Source:iResearch July 13,20173:42 PM
Consumer-oriented VR content falls into four categories — game, video, live streaming and others. The year of 2019 will probably become a turning point for the consumer-oriented content market because major content creators in the industry are forecasted to make profits in 2019. The revenue of consumer-oriented content market is expected to reach 27.89 billion Yuan by 2021, in which VR game will account for about 35% by its revenue of 9.62 billion Yuan; VR video will also take up over 30% by its revenue of 8.79 billion Yuan, second only to VR game.

Enterprise-oriented VR content market accounts for less than 1% in the VR market but its compound annual growth rate hit 355.0%. Therefore, it is expected that revenue of enterprise-oriented VR content market will surge to 8.78 billion Yuan by 2021. Huge demands for education and training serve as the main driving force for the rapid growth of enterprise-oriented VR content market. In addition, the authorities attach great importance to education informalization. Therefore, policy support from the government in developing VR education is bound to encourage the expansion of VR market.

The year of 2016 saw the revenue of VR marketing sector reached 30 million Yuan. As VR market develops rapidly, traditional advertising and marketing sector starts to use VR technology. VR marketing sector becomes more and more diversified in forms with the emergence of 360-degree panoramic video advertisement, in-app advertisement, VR live streaming advertisement and VR experiencing activities. In addition, the compound annual growth rate of VR marketing sector is forecasted to surpass 120% over the next five years and its revenue will probably hit 1.98 billion Yuan by 2021.

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