China Gaming Headsets Market Size

China Gaming Headsets Market Analysis

The China Gaming Headsets Market size is estimated at USD 272.17 million in 2024, and is expected to reach USD 444.96 million by 2029, growing at a CAGR of 10.32% during the forecast period (2024-2029).

• The growing popularity of gaming and virtual reality applications is driving the demand for headphones and earphones in China. These devices enhance the gaming experience by providing immersive sound effects and spatial audio. According to the Game Committee of the Publishers Association of China, the world’s second-largest economy is already home to one of the largest gaming populations in the world, reaching 668 million in 2023, an increase from 664 million in 2022.
• The Chinese Audio-video and Digital Publishing Association report that with its 668 million gamers, China experienced significant revenue growth in its gaming sector, particularly during the COVID-19 pandemic. In 2023, the average revenue per gamer increased to CNY 453 (USD 63.38), compared to CNY 360 (USD 50.37) in 2019. This growth highlighted the expanding economic impact of the gaming industry in China.
• In 2023, data from the National Bureau of Statistics of China revealed that the average annual per capita disposable income for Chinese households was approximately CNY 39,200 (USD 5,484.28). This statistic highlights the average Chinese citizen's economic status and purchasing power, providing valuable insight for market analysis and financial forecasting.
• To that extent, in November 2023, Meta Platforms inked a deal with Tencent Holdings to introduce a budget-friendly virtual reality (VR) headset in China, marking its re-entry into a market where Facebook and Instagram face restrictions. Under the terms, Tencent secures exclusive rights to distribute the headset in China, with sales set to commence by late 2024. This move marked Meta's re-emergence in China after a 14-year hiatus. It sets the stage for direct competition with Bytedance, the parent company of TikTok, which already offers the VR headset Pico.
• China also has a robust internet base, significantly driving the growth of the studied market. For instance, according to the China Internet Network Information Center (CNNIC), China's internet population grew by 11 million in June 2023 compared to December 2022. Over one billion people in the country have access to the internet, resulting in a fast-growing mobile app market. In 2022, China accounted for about one-fifth of the 5.3 billion internet users worldwide.
• In the current market scenario, monetization is dominated by publishers and advertisers. However, restraints like limited local game development and monetization of gamers still challenge the high potential. In recent years, the overall internet ecosystem initiated course correction through end-to-end local game development.