Industry representative companies: Byte Jump; Aqiyi; HTC; Lexiang Technology; Manheng Digital; Ruiyue Information; Zhongkechuangda; Migu Culture, etc.
The core data of this article: equipment shipments; market size; market share
Industry Overview
1, definition
Chinese Academy of Information and Communication Technology (CACIT) has made an assessment of the future development of VR panorama in the industry.
1. Definition
The China Academy of Information and Communications Technology (ICT) defines virtual reality (VR) as a new generation of information and communications technology that utilizes near-eye displays, perceptual interactions, rendering processing, network transmission, and content creation to build immersive and products and services involved in building immersive experiences with the help of new-generation information and communication technologies such as near-eye display, sensory interaction, rendering processing, network transmission and content production.
By the terminal category of virtual reality (VR), based on the product form, it can be divided into cell phone type (Screenless Viewer), host type (Tethered
HMD), and all-in-one type (Standalone HMD).
2, industry chain analysis: industry chain covers a wide range
China's virtual reality (VR) industry chain mainly contains hardware, software, content production and distribution, as well as downstream applications and services in four major segments. Hardware includes core devices, terminals and supporting peripherals, software includes support software and software development kits, content production and distribution includes two major parts of content production and distribution, and downstream applications and services mainly include education, medical care, services and other fields.
Industry development history: the industry entered a period of rapid development
Compared with the world, China's virtual reality (VR) development started later. The development of China's virtual reality (VR) can be roughly divided into four phases, namely, the technology accumulation period, the outbreak period, the trough period and the recovery period.
Before 2012 belonged to the industry's technology accumulation period, virtual reality from the conceptual description of the work of fiction, to the concept of the concept of the initial formation of the theory of virtual reality, and then to the research and development of virtual reality technology, virtual reality technology is gradually out of the laboratory, and in the form of tangible commodities.
2012-2016 belongs to the industry's explosive period, VR technology innovation explosion, hardware products continue to launch, a large number of VR players and capital began to pour in. HTC International Electronics (HTC) cooperated with Valve to launch HTC
Vive, and Aqiyi established Dream Bloom predecessor Aqiyi Intelligence, which entered the VR.
2016-2018, affected by the macro environment and the content production problems of the VR industry, some of the VR enterprises that are not competitive enough are cleared out of the market.
At the end of 2018, China issued its first policy document titled "Virtual Reality", "Guiding Opinions on Accelerating the Development of the Virtual Reality Industry", which demonstrated the importance that our government attaches to the development and application of the virtual reality industry. At the same time, the "14th Five-Year Plan" pointed out that the VR/AR industry should be listed as one of the key industries of the digital economy in the next five years, and the VR industry has entered a period of rapid development.
Industry policy background: policies continue to encode, accelerate industry penetration and integration
Since the birth of VR technology, the country has maintained a high degree of concern, with the emergence of high-speed transmission of 5G, the Internet of Things, artificial intelligence, flexible displays, mobile high-performance graphic computing cards and other technologies, the application of virtual reality has become one of the key development directions in China. one of the key development directions in China. Since 2016, China's Ministry of Industry and Information Technology released the "Informationization and Industrialization Integration Development Plan (2016-2020)", China has gradually begun to support the technological breakthroughs and innovations of virtual reality in the field of technology; at the end of 2018, China issued its first policy document titled "virtual reality", "Guiding Opinions on Accelerating the Development of the Virtual Reality Industry". At the end of 2018, China issued the first policy document titled "Virtual Reality", "Guiding Opinions on Accelerating the Development of the Virtual Reality Industry", which shows the importance that our government attaches to the development and application of the virtual reality industry. 2020-2022, China has introduced a series of virtual reality-related policies to accelerate the in-depth application of virtual reality in various fields in China.2021, most of China's provinces and cities have introduced policies on the application of virtual reality, and the areas of application include culture, media, industry, manufacturing, smart city and so on. manufacturing, smart city, etc.
Industry Development Status
1, China's virtual reality (VR) device shipments grow year by year
Shenzhen Artificial Intelligence Industry Association and IDC data show that China's VR headset shipments continue to grow in 2018-2021, and 2021 China's VR headset shipments reached 3.65 million units in 2021, a year-on-year growth of 13.5%.
Note: 2018-2019 data from IDC, 2020-2021 data from Shenzhen Artificial Intelligence Industry Association.
2, rapid growth in shipments of mid- and high-end VR devices
According to Shenzhen Artificial Intelligence Industry Association, in 2021, China's VR headset unit price of more than 1,000 yuan of product shipments 1.77 million units, an increase of 103.6% year-on-year, accounting for 48.5% of the total sales; VR headset unit price of less than 1,000 yuan Shipments of 1.88 million units, a year-on-year decline of 19.9%, accounting for 51.5% of total sales. This indicates that the overall price of virtual reality (VR) devices has increased, mainly due to the growth of shipments of medium- and high-end products. In the future, with the further enhancement of VR equipment production technology, making VR equipment manufacturing costs lower, the market price of VR equipment may be reduced.
3, China's virtual reality industry market size continues to grow
In the policy of vigorously promoting and market demand growth in the background, China's virtual reality industry market size in recent years to maintain rapid growth. According to the data published by CCID, the market scale reached about 27.89 billion yuan in 2021. As the technology becomes more mature, the application of virtual reality in various fields is gradually unfolding.
4, the lack of content into the main factors affecting the demand for VR
Overall, in the short term, China's virtual reality (VR) equipment will be in a situation where supply exceeds demand, mainly because of the country's current content ecosystem for the VR hardware is still insufficient. According to Perkins
Coi's research data demonstrates that among the factors affecting users' use of VR in 2021, 27% of users believe that the current VR-related content is of low quality, limited in quantity and inaccessible, and that phenomenal content is rare.
Industry Competition Pattern
1, Enterprise Competition
(1) China's top 50 VR companies list
2021 In the World VR Industry Conference, the Virtual Reality Industry Alliance continuously The third time released the list of "China's top 50 VR companies", the specific list is as follows:
(2) Market share: DPVR shipments accounted for the first place in China
Based on the market share of China's VR hardware companies and the global VR hardware shipments, measured by IDC, China's VR hardware companies and global VR hardware shipments, the market share of China's VR hardware companies and global VR hardware shipments were estimated to be about 1.5 percent. device shipments to measure the Chinese VR hardware enterprise shipments, and then based on the Chinese VR hardware device shipments to measure the Chinese VR hardware enterprise market share, DPVR's market share is the highest, 15.7%, DPVR's market share is 14.2%.
2, regional competition: Beijing leads the industry
According to the Virtual Reality Industry Alliance 2021 released "China's top 50 VR companies" list, 2021 China's top 50 VR companies in the regional distribution of Beijing leads the industry, 2021 China's top 50 VR companies, 2021 China's top 50 VR companies in the regional distribution of Beijing leads the industry. In 2021, Beijing led the industry in the regional distribution of China's top 50 VR enterprises, with 26 more Beijing enterprises, and Guangdong, Shanghai and Jiangxi forming the second echelon.
Industry development prospects and trend forecast
1, VR + industry applications to accelerate the integration of business model innovation and optimization
Future, as the virtual reality technology continues to progress, the industry optimization of the performance of the software and hardware iteration of the price reduction fast, virtual reality (VR) Equipment display resolution, frame rate, degrees of freedom, latency, interactive performance, weight, vertigo and other performance indicators are increasingly optimized, the product to thin and light, ultra-clear accelerated evolution, superimposed on high-performance chips and other software technology development and application, the user experience will continue to improve. The virtual reality (VR) market is expanding rapidly, opening up a new space for the virtual reality industry to explode and grow.
2, virtual reality application prospects, industry development space is huge
As a new generation of information technology integration and innovation of the typical field, virtual reality (VR) key technology is maturing, in mass consumption and vertical industry application prospects, industry development space is huge. According to the 2022 V1 edition of IDC's Global Augmented and Virtual Reality Spending Guide released by IDC, the CAGR of China's market in the next five years is expected to reach 43.8%, with the growth rate ranking the first in the world, and accordingly, it is expected that the market size of China's Virtual Reality (VR) industry may reach 246.6 billion yuan by 2027.
For more research and analysis of this industry, please refer to China Virtual Reality (VR) Industry Market Outlook and Investment Strategy Planning Analysis Report by Prospect Industry Research Institute.