China augmented reality market is estimated to grow significantly at a CAGR of 40.4% during the forecast period. The rising awareness among the end-users and the increasing adoption of AR technology for different applications such as entertainment, automotive, healthcare, telecommunication, infrastructure in public and private sectors are among the major factors that contribute towards the growth of the AR market in China. E-commerce companies such as Amazon and Flipkart are highly using AR technology to transform the online shopping landscape by offering a virtual reality shopping experience. Apart from enterprises the Universities and schools in China are also using AR for better learning which is further contributing towards the market growth. For instance, the students at the Beijing University of Chinese Medicine learn acupuncture with VR technology that they can use on or off-campus.
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The market is segmented on the basis of device type, technology, components, and application. Based on the device type market is sub-segmented into the head-mount, head-up, handheld. Based on technology the market is sub-segmented into monitor based technology and near eye based technology. Based on offering, the market is bifurcated into software and hardware. Based on the application, the market is segmented into individual, consumer, and others (automotive, defense, tourism, healthcare, apparels & Accessories).
Furthermore, prompt developments in the 5G technology and integration of the same with AR technology is likely to drive the market growth in the country. Cohesive government plans and policies are further anticipated to drive the market growth in China. In July 2019, officials in the country’s Jiangxi region plan to raise $460 million to benefit AR/VR companies. With this, the presence of the major market players in the country including Baidu, Alibaba, Apple, and PTC among others is anticipated to fuel the market growth in China. These players are highly involved in bringing innovations in the existing AR technology in order to stay competitive in the market.
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China Augmented Reality Market Segmentation
By Device Type
- Head-Mounted
- Head-Up
- Handheld
By Technology
- Monitor Based Technology
- Near Eye Based Technology
By Component
- Hardware
- Software
By Application
- Individual
- Commercials
- Others (Automotive, Defense, Tourism, Healthcare, Apparels & Accessories)
Company Profiles
- Apple Inc.
- Google, LLC
- Hangzhou Sikan Technology Co., Ltd.
- Huawei Technologies Co., Ltd.
- Microsoft Corp.
- PTC Inc.
- Qualcomm Technologies Inc.
- Rokid Corp.
- Shenzhen Oskyoo Technology Co., Ltd.
- Thales Group
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