Retail in Asia

In Trends

China virtual reality spending to quadruple

BEIJING: Spending on virtual reality in China is forecast to almost quadruple in 2016 and to more than double again in 2017.

Figures from research firm Analysis International Enfodesk, reported by eMarketer, suggest that revenues from hardware, software, content and other services associated with virtual reality stood at just RMB180million (USD28.9 million) in 2015 but these are set to surge in the next couple of years.

The firm’s 2016 China Virtual Reality Devices Research report predicted growth of 372 percent in 2016, taking VR spending to RMB 850m (USD 136million). This will slow to 154 percent  in 2017 when total spending will reach RMB 2,160 million.

eMarketer advised, however, that projected figures should be treated with caution since the eventual level of uptake of VR devices and associated content was not yet clear.