The three giants strive to build a VR platform with a compound growth rate of over 100% in the next five years

According to forecasts from relevant institutions, the VR/AR hardware and software market will reach US$150 billion in 2020 (VR 30 billion, AR 120 billion), with a compound growth rate exceeding 100% in the next five years.

China's three Internet giants are working hard to build a VR content distribution platform, bringing good news to virtual reality theme funds.

Tencent, Alibaba and Baidu have all taken actions in the field of virtual reality. Baidu's iQiyi plans to build the world's largest Chinese virtual reality service and strive to build a VR content distribution platform. Baidu Video adds VR channels to create a domestic VR content aggregation platform. Platform to provide different types of users with content resources such as videos, games, and information.

Tencent tested the water to broadcast a concert by popular South Korean group Big Bang through virtual reality technology, and purchased more than 300 Japanese anime franchises for VR content construction. E-commerce giant Ali invested in AR hardware maker Magic Leap in February this year and is committed to bringing a new online shopping experience through the combination of virtual reality technology and e-commerce business.

According to forecasts from relevant institutions, the VR/AR hardware and software market will reach US$150 billion in 2020 (VR 30 billion, AR 120 billion), with a compound growth rate exceeding 100% in the next five years.

Currently, technological innovation drives hardware upgrades, and VR/AR is expected to replace smartphones and become the next generation computing platform.

Editor: yvonne