Industry predicts 300 million users of VR devices

People wear Samsung Gear VR devices as they attend the launching ceremony of the new Samsung S7 and S7 edge smartphones during the Mobile World Congress in Barcelona, Spain, February 21, 2016. [Photo/Agencies]

286 million people are likely to become users of virtual reality (VR) products in China, according to a recent study jointly released by a domestic manufacturer, an advertisement academy and a consulting institute.

According to the report that focuses on the analysis of VR users' behaviors, the volume of light users, who have tried out or experienced related devices, has reached about 17 million in the past year, and around 960,000 people have purchased different kinds of VR equipment.

"In the upcoming year, 83.1 percent of existing VR heavy users will purchase higher-configured VR goggles, the entry level VR device that provide services with embedded-smartphones, to achieve a more comfortable wearable experience," said Xiao Mingchao, CEO of consulting firm SocialBeta.

"More than one third of heavy users will buy higher level VR headsets powered by PCs," Xiao added.

According to Xiao, the potential market value of the countries' VR industry will reach more than 1,000 billion yuan ($154 billion). VR technology will be utilized in varieties of commercial and marketing fields to create new business opportunities.

The report also claimed that more than 70 percent of VR heavy users are male and that 60 percent of?them are aged?between 25 to 34. Most of them are from the group that consumes a large amount of tech and digital products.

Meanwhile, the most heavy users of VR devices are also Mobile Internet heavy users. They spend more than 4 hours per day online on their smartphones.

According to the report, by spending 16 to 60 minutes, more than 70 percent of VR heavy users use their devices every day and 21 percent of them will use the devices for more than three times per week. The daily average usage time reached 34 minutes.