The total scale of China's virtual reality industry will exceed 350 billion yuan by 2026, according to the Ministry of Industry and Information Technology

Five departments, including the Ministry of Industry and Information Technology, the Ministry of Education, the Ministry of Culture and Tourism, the National Radio and Television Administration and the State General Administration of Sport, jointly released the Action Plan for the Integrated Development of Virtual Reality and Industrial Applications (2022-2026) (hereinafter referred to as the Action Plan), according to the website of the Ministry of Industry and Information Technology on Nov 1.

According to the action plan, by 2026, the overall scale of China's virtual reality industry (including related hardware, software, applications, etc.) will exceed 350 billion yuan, the sales volume of virtual reality terminals will exceed 25 million, and 100 backbone enterprises with strong innovation ability and industry influence will be nurtured. We will build 10 clusters with regional influence and lead the ecological development of virtual reality, and build 10 industrial public service platforms. Breakthroughs will be made in key application areas of virtual reality, such as industrial production, cultural tourism, integrated media, education and training, sports and health, business creativity, and smart cities. To carry out 10 types of virtual audiovisual production application demonstrations, create 10 "virtual reality +" fusion application pilot cities and parks, and form at least 20 featured application scenes and 100 fusion application pioneer cases.

Executive director of wuxi digital economy research institute at xianguang guo said in an interview with "securities journal" reporter, virtual reality industry subject to technology, industry and business model, while teaching in tourism, culture, games and other fields have a certain application, but did not explore relatively mature commercial path and the business model, from the policy level to promote research and development of core technologies and key components of the application, Promote the development of virtual reality industrial chain by landing scene application and building industrial clusters, and explore and form mature business models in some fields with high scale and maturity potential.

Therefore, the Action Plan also puts forward five key tasks: first, to promote the integration and innovation of key technologies; Second, to enhance the supply capacity of the whole industrial chain; Third, accelerate the application of multiple industries and scenarios; Fourth, strengthen the construction of industrial public service platform; Fifth, we will build a system of integrated application standards.

The co-chair of the China communication industry association block chain branch Yu Jianing "securities journal" reporter said, the development of virtual reality technology is a long and gradual process of iteration, continuous extension border, the market is really looking forward to the virtual reality technology to the ground, even in the short term will produce a great industrial value, but also the lack of corresponding industry base and the scene application ability, Therefore, the policy side not only encourages technology research and development, but also provides all-round support for the scene landing of virtual reality technology.

"At present, a series of disruptive technologies such as 5G, cloud computing, distributed storage, artificial intelligence, digital twin and virtual reality are constantly maturing and achieving a multiplier effect through integration. With policy guidance and capital support, a large number of new unicorn enterprises are expected to emerge in China in the next five years." "Yu said.

Wang Dongwei, chairman of Zhongtai Capital Investment Management Co LTD, said the commercial application of virtual reality technology has been the focus of the capital market, which previously focused on the online game industry and VR entertainment projects. With the release of the Action Plan, the application boundary of virtual reality technology has been further expanded, which not only improves the digital level of entertainment, but also focuses on industrial and urban security scenes. More industries and more companies are expected to integrate into the virtual reality industrial chain and form virtual reality industrial cluster.