Globally, the value of venture capital investments in VR hit US$3.5 billion in the past two years, according to Goldman Sachs and it predicts annual revenue of US$80 billion in both VR hardware and software industries by 2025. China’s domestic VR market is expected to grow exponentially over the next four years to US$8.5 billion annually.
Tech giants such as HTC, Samsung, Huawei and Xiaomi are now investing heavily in the technology, in an effort to catch up with the smaller companies such as 3Glasses that have emerged as major forces in China’s VR sector, some of which have been shipping tethered VR head-mounted displays as far back as 2014.
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