|Phenny Lynn Palec |||Jul 12, 2016 09:34 AM EDT|
(Photo : Reuters) Chinese companies are betting that the adoption of 5G technology would boost the VR market.
Two Chinese tech giants, Huawei Technologies, and ZTE, are predicting that the virtual reality and augmented reality platform will see a meteoric rise in demand once the 5G mobile network infrastructure is widely deployed by 2020.
In a statement acquired by South China Morning Post, Huawei vice-president of international media affairs Roland Sladek said, "The virtual-reality ecosystem is not mature enough now, in terms of content and bandwidth. If you want to stream 3D content, it's very slow. Latency is not great. That will drastically change with 5G."
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Both Huawei and ZTE are pushing the wider development and adoption of the 5G technology.
5G is considered as the fifth-generation of wireless broadband technology which operates with a 5Ghz signal and has theoretical speeds between 1Gbps to 10Gbps with significantly improved latency. The GSM Association claims that the adoption of 5G will lead to what the group called "hyper-connected society" in which the mobile platform plays an integral part in connecting customers to services and industries.
Goldman Sachs analysts have predicted that the virtual reality and augmented reality platform will grow into a massive industry worth $80 billion by 2025, responsible for generating $45 billion in hardware sales and $35 million in software sales.
The current virtual reality market has promising products like the HTC Vive, Oculus Rift, and Google Daydream. On the augmented reality front, Microsoft HoloLens and the Lenovo Phab 2 Pro are ahead of the competition. According to Venture Beat, Chinese tech giants Alibaba and Taobao have reported selling more than 300,000 virtual reality units in a month.
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