Chinese Industry Targets Production Of 25 Million VR Devices With A Turnover Of IDR 755 Trillion By 2026

JAKARTA – The Chinese government released its first action plan for virtual reality on Tuesday, November 1 with its industry target of shipping more than 25 million VR devices with a value exceeding 350 billion yuan (IDR 755 trillion) by 2026.

The estimate was published by five ministries in Beijing, led by the Ministry of Industry and Information Technology, and categorizes virtual reality as a key industry for the digital economy under the country's 14th five-year plan.

This paper covers augmented reality and mixed reality in the definition of virtual reality. This first action plan reflects Beijing's ambition to lead the world in virtual technology and sets detailed goals.

They did not specify whether the target of 25 million devices refers to annual or cumulative shipments between now and 2026.

"In the first half of this year, China shipped more than half a million virtual reality and augmented reality devices," research firm IDC said.

The plan also includes a target to increase the total value of the industry to more than 350 billion yuan, which the ministry said includes hardware and software sales.

He added that China needs to nurture 100 core enterprises and establish 10 public service platforms for the industry by 2026.

The China Academy of Information and Communications, a state-backed think tank, published a report last Tuesday saying that China's motivation for the action plan should be seen in the context of the US and South Korean governments which have identified virtual reality as an important industry.

They also referred to global tech giants including Meta, Microsoft, Apple, Google and Tencent, citing them as companies rapidly pursuing virtual reality opportunities.