Hurun Releases List of Chinese Companies With Greatest Metaverse Potential

The Hurun Research Institute released on Tuesday a list of metaverse companies it believes show the most promise in 2022. The list is made up of the Top 200 Chinese enterprises with the greatest development potential in the field of the metaverse.

The Top 20 firms include stalwarts such as China Mobile, China Telecom, Tencent, Alibaba, Baidu, NetEase, Huawei, GoerTek, Xiaomi,, and ByteDance.

Among the Top 200 enterprises, the category of essential technology hosts the largest number of listed enterprises, accounting for 38%. Application platforms ranked second, accounting for 23% while platform technology accounted for 20%. Intelligent terminal took up 10% and network technology occupied an 8% share. Enterprises headquartered in Beijing, Shanghai and Shenzhen accounted for half of the total with 16% of the listed firms being state-owned holding enterprises and 84% are private.

Quite a few of the Top 100 enterprises with the greatest potential focus on the VR industry. Companies such as Goertek has a 70% market share of VR headsets, while Thunder Software Technology, Sunny Optical Technology, Rockchip Electronics, and others are also focused on VR. Platforms are beginning to integrate these technologies into their businesses. In addition, travel group and real estate finder Ke Holdings and Shanghai Oriental Pearl Media have introduced VR or AR technology into their respective business fields to help users experience virtual space.

Hurun Report Chairman and Chief Researcher Rupert Hoogewerf spoke about the list of companies: “This year is the first year of the metaverse. It has only been in the last year that the mainstream has started to concentrate on it, triggered in part last October when Facebook changed its name to Meta. Our metaverse list today is designed to help identify which companies in China have the most potential in the metaverse.”

He added, “At present, the definition of metaverse that we agree with is: a virtual world that is linked and created by means of science and technology and mapped and interacted with the real world. This world is a digital living space with a new social system. Of course, it will take some time for the arrival of the metaverse era, and it is inseparable from Web3.”

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According to Citibank’s forecast, by 2030, the total number of users in metaverse will reach 5 billion, and the potential market size of the metaverse economy may be between $8 trillion and $13 trillion.