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China Daily | Updated: 2019-06-11 07:21
Govt and policies
China to spend $65b on VR/AR by 2023
China's market spending on augmented reality and virtual reality (VR/AR) is forecast to exceed $65.21 billion in 2023, according to a report published by the International Data Corp (IDC). The figure is far beyond the forecast of $6.53 billion for market spending in 2019, data from the report showed. Between 2018 and 2023, the compound annual growth rate (CAGR) of the spending in the VR/AR sector will reach 84.6 percent, higher than the 78.3-percent CAGR of the global market, the report said.
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