PwC predicts that the Entertainment and Media sector will be worth £76 billion by 2022, up from £68 billion this year, and that the UK’s virtual reality sector will be the fastest growing segment with a CAGR of 34% over the next four years.
With more than 7.8 million VR headsets forecast to be cumulatively sold in the UK, the company expects the virtual reality industry will be worth £1.2 billion by 2022.
PwC’s Mark Maitland commented:
“We expect the number of VR headsets used by UK consumers to reach almost eight million over the next four years. Growth will be driven by a second wave of hardware that is easier to use, better supported and ultimately priced for the masses entering the market over the forecast period. The UK’s VR industry will generate more revenue than any other country in Western Europe over this time”.
