China Metaverse Market Intelligence Report 2023: Market is

    Published on:

    Dublin, April 25, 2023 (GLOBE NEWSWIRE) — “China Metaverse Market Intelligence and Future Growth Dynamics Databook – Sectors X Use Cases X Technology, Business and Consumer Spending, 100+ KPIs Covering Market Size by NFT Spending – Q1 2023” report added of Recruitment.

    China’s metaverse industry is expected to grow by 39.5% on an annual basis, reaching USD 1,061,102.8 million in 2023.

    The metaverse industry is expected to grow steadily over the forecast period, registering a CAGR of 35.8% from 2023 to 2030. The country’s Metaverse spending will grow from $76,076.8 million in 2022 to $45,741.9 million by 2030.

    The rapid development of China’s metaverse industry is partially driven by the early layout of digital infrastructure and the ability to translate new technologies into applications. The metaverse industry saw significant growth in China in Q3 and Q4 of 2022.

    The growth of the potential metaverse market has also attracted the attention of major Chinese technology companies. Companies like Tencent, NetEase, Alibaba, and ByteDance are all investing in the space to develop and build devices and software that can shape the future of the domestic metaverse industry. Increased investment in the metaverse sector is expected to drive innovation and adoption in the short to medium term.

    E-commerce marketplace adopts Metaverse to offer shoppers an immersive shopping experience during Singles Day event

    China has one of the world’s largest e-commerce markets. With increasing competition and the need to create a more immersive shopping experience, both companies turned to offering the Metaverse in China.

    In November 2022, announced that it is leveraging new technologies such as the Metaverse to create immersive experiences while also boosting its Single’s Day luxury shopping event. The company introduced his 3D visualization capabilities on his website, allowing shoppers to view their products in a whole new way.

    In September 2022, Alibaba will launch a luxury shopping experience for its customers on the Metaverse. Launched on the Tmall Luxury Pavillion platform, the Metaverse shopping experience will host an AR fashion show of select brands. Users can also try on products in an immersive world. During the Singles Day event, Alibaba also partnered with virtual influencers to promote various branded products on its Tmall platform.

    As Chinese shoppers seek innovative shopping experiences, publishers expect more e-commerce players to innovate and launch immersive shopping experiences.

    Government Investment Drives China’s Metaverse Industry Growth

    In China, a number of provinces have announced plans to develop the Metaverse amid rising prospects for emerging technologies. As part of this initiative, government investment in this sector is expected to increase significantly.

    At least six provincial governments and local governments in 10 Chinese cities have announced plans to develop the Metaverse. Guangzhou, Wuhan, Hangzhou, and eastern Shandong have announced plans to provide grants for new research projects and platforms related to the Metaverse. These subsidies range from RMB 2 million to RMB 200 million.

    In September 2022, the central province of Henan also joined the Chinese Metaverse bandwagon. The Ministry plans to build his 30 billion yuan metaverse industry. In June 2022, the Shanghai government announced his 10 billion yuan fund for the development of the metaverse industry. By 2025, Shanghai aims to build his 350 billion yuan metaverse industry in the city.

    Following the growing hype about the Metaverse, more states are expected to announce plans to develop the Metaverse industry and subsidies to support domestic Metaverse companies. Alongside local governments and government agencies, Chinese universities are also investing heavily in this field.

    These institutions are opening new virtual departments to lead the next phase of innovation in China’s metaverse sector.

    Metaverse Marketplace Raises Funding Round From Leading Chinese Tech Giant

    As interest in the metaverse space grows, the China-based Metaverse Marketplace has secured a funding round from a major domestic technology giant to further accelerate its growth and global expansion.

    In November 2022, Yahaha, a metaverse platform for virtual user-generated content, announced that the company had raised US$40 million in a Series A+ funding round. The funding round was led by Temasek and Alibaba, two of the country’s leading technology giants. Since its inception in 2020, the company has raised nearly $100 million of his funding.

    Early stage investors include Xiaomi, GL Ventures, 5Y Capital and Blibili. As of October 2022, products developed by the company have earned him over 100,000 users. The company’s products have already been introduced to the global market and the company hopes to use the funding to further accelerate its growth and expansion in the global market.

    As China’s Metaverse ecosystem continues to develop and grow, publishers expect Metaverse startups to attract more investment from Chinese giants and venture capital firms in the short to medium term.


    China Metaverse Market Size and Future Growth Dynamics by Key Performance Indicators

    • Trend analysis of total spending
    • Business Spend Trend Analysis – Consumer Spend Trend Analysis

    China Metaverse – Trend Analysis of Business Spending by Sector, 2021-2030

    • retail business
    • Technology & Telecommunications Industry
    • financial services industry
    • manufacturing industry
    • Travel and hospitality industry
    • Media & Entertainment Industry
    • training and education industry
    • real estate business
    • Health & Wellness Industry
    • other

    Chinese Firms Spending on Metaverse by Use Case/Application, 2021-2030

    • Retail (Marketing & Advertising, Commerce, Operations & Training)
    • Technology and Telecommunications (Marketing and Advertising, Commerce, Operations and Training)
    • Financial Services (Marketing & Advertising, Commerce, Operations & Training)
    • Manufacturing (Marketing & Advertising, Commerce, Operations & Training]
    • Travel & Hospitality (Marketing & Advertising, Commerce, Operations & Training)
    • Media & Entertainment (Marketing & Advertising, Commerce, Operations & Training)
    • Training & Education (Marketing & Advertising, Commerce, Operations & Training)
    • Real Estate (Marketing & Advertising, Commerce, Operations & Training)
    • Health & Wellness (Marketing & Advertising, Commerce, Operations & Training)
    • Other (Marketing & Advertising, Commerce, Operations & Training)

    Trend Analysis of China NFT Spending by Sector, 2021-2030

    • retail business
    • Technology & Telecommunications Industry
    • financial services industry
    • manufacturing industry
    • Travel and hospitality industry
    • Media & Entertainment Industry
    • training and education industry
    • real estate business
    • Health & Wellness Industry
    • Other industries

    Chinese Firms Spending on the Metaverse by Technology

    • By technology
    • retail business
    • technology and communication
    • financial operations
    • manufacturing industry
    • travel and hospitality
    • media & entertainment
    • training and education
    • real estate
    • Health & Wellness
    • other

    Chinese Metaverse Spending by Platform

    China eCommerce Spending in Metaverse by Sector 2021-2030 (Total Merchandise)

    • retail shopping
    • travel and hospitality
    • online food service
    • media & entertainment
    • Health & Wellness
    • technology products and services
    • Other industries

    China’s NFT Market Size and Future Growth Dynamics by Key Performance Indicators

    • NFT – Trend Analysis of Total Sales Spend, 2021-2030
    • NFT – Total Sales Trend Analysis, 2021-2030
    • NFT – Average Value Trend Analysis per Transaction, 2021-2030

    China’s NFT Market Size and Forecast by Major Assets, 2021-2030

    • NFT Collectibles and Art Trend Analysis, 2021-2030
    • NFT Real Estate Trend Analysis, 2021-2030
    • NFT Sports Trend Analysis, 2021-2030
    • NFT Gaming Trend Analysis, 2021-2030
    • NFT Utility Trend Analysis, 2021-2030
    • NFT Fashion and Luxury Trend Analysis, 2021-2030
    • Other Asset Trend Analysis, 2021-2030

    Chinese Consumer Spending on Metaverse by Device, 2021-2030

    • desktop
    • mobile
    • digital gadget

    Chinese Consumer Spending on Metaverse by Hardware Device, 2021-2030

    • AR (Augmented Reality)
    • VR (virtual reality)
    • MR (Mixed Reality)

    Learn more about this report here

    About is the world’s leading source of international market research reports and market data. It provides up-to-date data on international and regional markets, key industries, top companies, new products and latest trends.



    Leave a Reply

    Please enter your comment!
    Please enter your name here