PwC: VR Is The Fastest-Growing Digital Format

Half-Life Alyx and Oculus Quest 2 were the main factors driving the growth in 2020.

One of the world's top audit and consulting agencies PricewaterhouseCoopers has recently shared a new report that discusses different shifts in the entertainment and media industries. Among other curious facts, the report notes that VR was the fastest-growing format in 2020. 

"Virtual reality (VR) was the fastest-growing segment covered by the Outlook in 2020, with revenue of US$1.8bn, up 31.7% from 2019, albeit off a very low base," states the company. "VR will also be the fastest-rising E&M segment over the forecast period, with revenues rising at a 30.3% CAGR to US$6.9bn in 2025."

The company also noted that according to Steam’s PC user survey data, the release of Half-Life: Alyx drastically increased the number of Steam users with VR headsets. Another key factor was the launch of a competitively priced (US$299) Oculus Quest 2 headset at the end of 2020.

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