China's virtual reality market will exceed RMB 55 billion by 2020

A few days ago, the China Electronic Information Industry Development Research Institute released data showing that 2020 China's VR device shipments will reach 8.2 million units, the virtual reality market is expected to exceed 55 billion yuan, and some technologies and applications are expected to reach the world's leading edge.

With the breakthrough of software and hardware technologies, the performance of virtual reality products has been improved and prices have been reduced, which is accelerating into people's lives. At the launch ceremony of the China Institute of Electronic Information Industry Development, Virtual Reality Industry Alliance and other institutions held in Beijing on the 26th in the China Virtual Reality Innovation and Entrepreneurship Competition, Academician Zhao Yuping of the Chinese Academy of Engineering stated that the current virtual reality industry is ushering in a period of rapid development, with huge China, with its market and sound innovation system, is expected to become the center of global growth in this field.

However, at present, China’s virtual reality industry is still dominated by start-up companies. There are problems such as low industrial maturity, lack of core key technologies, imperfect application ecology, and shortage of talents. It is imperative that all parties in the industry be brought together to form a joint development force and enhance overall competition. force.

In order to stimulate corporate innovation and cultivate industrial technology talents, China Electronic Information Industry Development Research Institute, Virtual Reality Industry Alliance, and Guoke Innovation & Venture Capital Co., Ltd. formally launched the first China Virtual Reality Innovation and Entrepreneurship Competition on the 26th, aiming at R&D and production of industrial chains. Small and medium-sized enterprises and entrepreneurial teams in the sales and other sectors will select talents and outstanding projects, and will introduce capital to support innovation and entrepreneurship, and promote the application of technology.

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