What They Say
VRFocus reported data from PwC that predicts that VR will see the highest revenue growth of all media from 2020 to 2025 going from $1.8 billion last year to $6.9 billion. VR Video should grow from $615 million to $1.4 billion. Those numbers are small, though, as the overall gaming market will grow to $194.7 billion.
The report also forecasts a market for over 70 million headsets by 2025.
Separately, an article in Variety said that Jingshu Chen, co-founder of VR entertainment platform VeeR will deliver a keynote at the Cannes Film Market that will look at the state of VR in its progress along the ‘Hype curve’.
What We Think
VRFocus, of course, is keen to highlight the strong growth in VR, but that growth is from a relatively small base, when growth percentage can be bigger. Still, it’s good to have a forecast from someone outside ‘the bubble’, such as PwC. Having said, that, an analyst company that I knew employed a VR specialist. Sadly, he seemed to think that an analyst’s task is to hype and drive the market, rather than standing back a bit and bringing a critical eye. I once saw a list of UK technology journalists from a PR company and I was happy to see that I was in the bottom 20% for ‘scepticism’. Those at the top of the list were happy to accept whatever brands were happy to promote. (BR)
