A Brief Analysis on China’s Game and Amusement Market
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By GAF Committee China Ushering in a Golden Age of Game and Amusement −VR is an emerging technology that is closely related to game and amusement, and it is now widely considered a very promising industr
By GAF Committee
China Ushering in a Golden Age of Game and Amusement
|−VR is an emerging technology that is closely related to game and amusement, and it is now widely considered a very promising industry in China. Data from iiMedia Research suggests that by 2020, the scale of China’s VR market will reach 55 billion RMB. Even thought China’s development of VR technology is still in its preliminary stage, some Chinese VR accessories and components, such as chips, screens, somatosensory sensors, etc, can rival high-end foreign products.|
|−Last July, the Chinese government finally lifted the ban on the sales of game machines nationwide. It showed that the government now officially recognized game machine industry as an essential part of China’s culture industry. Since the government has put forward a proposal in the 13th five-year plan that by 2020, culture industry becomes one of China’s pillar industry, making up over 5% of China’s GDP, it is not hard to believed that in the near future more favorable policy will be implemented, attracting more investment to pour into this industry.|
|-According to World Tourism Organization, when a country or region’s per capita GDP passes 5,000 USD, its tourism will reach the point of maturity. According to statistics, by 2015, China’s per capita GDP has exceeded 8,000 USD, which means that tourism products, such as theme parks, water parks, etc, will be in great demand. It is estimated that by 2020, there will be another 64 newly built theme parks in China with up to 166.3 million potential visitors, attracting 23.8 billion USD of investment.|
|−Chinese parents never grudge money when it comes to their children. It is said that money spent on children accounts for about 33% of a household’s expense. It is said that by 2013, China’s consumer market for children products has exceeded 400 billion RMB. No wonder China’s indoor children park industry has been growing by 40% annually since 2013. With the Chinese government encouraging couple to have a second child, demands for children parks are expected to grow continuously in the future.|
Guangdong Province, the Pacesetter of China’s Game and Amusement Industry
−According to a research done by TEA/AECOM, among the world’s top 10 theme parks, 4 are Chinese enterprises and Guangdong province is the cradle of 3 of them. Besides, Guangdong is also the province that has the most theme parks in China. These remarkable achievements are the result of Guangdong’s thriving game and amusement industry. It is said that almost 90% of China’s game machines and amusement equipment are made in Guangdong and a considerable part of their products are exported to over 100 countries and regions. Game and amusement industry has become one of the main pillars that is supporting Guangdong’s economy.
−As such an important source of fiscal revenue, Guangdong’s game and amusement industry has been receiving much attention from the local government. In order to ensure a smooth communication and interaction between Guangdong’s game-and-amusement-related enterprises, the provincial government has given its full support to the founding of Guangdong Entertainment & Game Industry Association (GEGIA). Headed by Guangdong’s leading enterprises, such as Tencent, NetEase, China (Guangdong) Mobile, Universal Space, etc, GEGIA is going to further consolidate Guangdong’s position as the pacesetter of China’s game and amusement industry.
−What’s more, Guangdong Game & Amusement Culture Industry City has been confirmed as one of the key tourism projects supported by the government. Its plan is to become China’s biggest game and amusement research and development base and technological innovation center in the next five years, and ultimately the world’s most influential trading center of game and amusement products and derivatives.
To sum up, Chinese residents are looking for more game and amusement products to meet their spiritual needs and the Chinese government is also strongly supporting the development of game and amusement industry. Under these two stimulus, China’s game and amusement market is entering into a prosperous period and it is time for you to expand your business to China.
If you are looking for a way to break into China’s market, may I interest you in Wuhan International Game and Amusement Fair 2017(GAF 2017), one of the leading amusement and attraction exhibitions in Asia? If you are interested, please contact us so that we can send you other promotion materials for your further reference.
Wuhan International Game and Amusement Fair 2017(GAF 2017)
Date:May 12th-14th, 2017
Venue:Wuhan International Expo Center