Although the VR industry is still in an awkward state right now, there are some intriguing developments. In China, VR gaming is seemingly taking off significantly. Additionally, the growth of the virtual reality arcade business cannot be ignored. Achieving major successes remains difficult, but nothing is impossible.
Chinese VR Arcades Remain Successful
No one will deny the potential of VR arcades is certainly there. These venues offer cheap and convenient access to VR for those not willing or unable to invest in expensive VR headsets. It is a tried and tested business model which has seen some degree of success globally. In China, however, it seems this market is firing on all cylinders.
More specifically, China has roughly 3,000 virtual reality arcades back in 2016. That is a very high number, especially given how VR was not even a real topic of conversation in the West at that time. Ever since, the growth has continued at a steady rate, and is expected to grow into a 5.25 billion yuan market in 2021.
Depending on how much this market grows in China, a global precedent can be created. In fact, industry experts predict China can become the dominant market for both virtual and augmented reality over the coming five years. For every $5 spent, $1 or more will end up in Chinese pockets. A very interesting outlook
One contributing factor to this success if the Chinese government. Unlike what some people may think, the government wants China to become a leader in terms of next-generation technologies. Obviously, that also includes AR and VR, as both technologies offer tremendous potential in many different ways. Despite a lack of high-quality games, it would appear China’s VR business is still noting strong growth.
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