Recently, iQiyi Adventure VR reached a deep cooperation with 4K Garden, a 5G+ Ultra HD application technology platform. Both parties will create China’s first Ultra HD+ VR immersive interactive innovative app.
Ultra HD technology features a high resolution, high frame rate and wide color gamut, which will make VR content presentation and visual images highly immersive. In order to more rapidly develop the consumer market, 4K Garden and iQiyi Adventure VR together will focus on insight into the needs of target users and will jointly explore innovative business models for VR, cutting 4K/8K UHD content into the VR content consumer market, and will also launch a VR video platform with social interaction attributes.
According to IDC data, in Q4 2021, the omni-channel sales of iQiyi Adventure VR increased by 475.9% year-on-year, acquiring a market share of 22.5%. As one of the established VR manufacturers in China, iQiyi Adventure VR was the first to launch the first VR all-in-one product equipped with 4K screen in the industry in 2016. Up to now, it has successively launched Adventure 1, Adventure 2, Adventure 2S, Adventure 2Pro, Adventure 3, Adventure Dream and other products.
4K Garden is an open platform for the production and distribution of 4K content. It has rich assets in the field of Ultra HD+ VR, through its content accumulation and technical applications. 4K Garden focuses on solving problems such as too little boutique content, single variety, and limited VR program sources of VR terminals.
According to IDC, the AR/VR headset market in the Asia-Pacific region grew 60.8% annually in 2021, with shipments reaching 2.19 million units. According to data from the China Academy of Information and Communications Technology (CAICT), the global VR/AR market was about 90 billion yuan in 2020, and it is estimated that the market will grow to 480 billion yuan by 2024.