xR in China Continues Strong Growth: Head-Mounted Displays Revenues to Top $1 Billion by 2023

Greenlight Insights China xR Intelligence Service, Press Releases

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Intense competition among vendors will be rewarded as consumer and enterprise use of Virtual Reality and Augmented Reality continue steady growth

Greenlights Insights’ latest report, the 2019 China VR/AR Head-Mounted Display Forecast, 2019-2023, provides a deep analysis of the Chinese marketplace for virtual (VR) and augmented reality (AR, together, xR) head-mounted displays (HMDs). Greenlight Insights forecasts strong growth in head-mounted displays (HMDs) for both VR and AR through 2023. AR HMD sales will grow faster during that period, with a Combined Average Growth Rate (CAGR) of 67.8% in revenue by 2023. In that same period, AR HMD unit shipments will show a CAGR of 74.7%. This represents 2023 unit sales of just under 335,000 units valued at more than $440 million. For the same period, Greenlight expects Virtual Reality HMDs unit shipments to grow to a CAGR of 13.4% and more than 5.0 million units, valued at more than $875 million in 2023.

Natalie Yue, Analyst at Greenlight Insights, explains the unique opportunities and challenges facing xR vendors operating in China: “While the Chinese government provides substantial assistance to domestic manufacturers, it also creates serious barriers for certain sorts of uses. Also, we find the leadership of many Chinese businesses resistant to change and reluctant to try new immersive technologies. However, the proven value of xR in boosting productivity is increasing forcing Chinese enterprises to adopt virtual and augmented reality-based solutions simply to maintain their competitiveness in the world markets.”

“In addition,” Yue explains, “many entertainment venues are finding that VR, and to a lesser extent, AR, offers excitement to their customers and draws people to the locations. Overall, we see great potential for growth in the Chinese xR marketplace.”

The 2019 China VR/AR Head-Mounted Display Forecast, 2019-2023 provides many more insights. It is available to subscribers to Greenlight Insights’ Intelligence Services. To learn how your company can benefit from this report, email hello@greenlightinsights.com or visit greenlightinsights.com.

About Greenlight Insights

Greenlight Insights provides proprietary market research, consulting, and events about the future of virtual and augmented reality. Greenlight Insights delivers critical strategic insights to the world's leading technology companies, publishers, service providers, institutional investors, and government entities.

Based in San Francisco, with offices in Boston and Denver, Greenlight Insights comprises a diverse team of highly-skilled industry professionals who offer deep expertise in virtual and augmented reality. For more information, visit greenlightinsights.com.