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Metaverse News Europe


PWC predicts 36% VR growth and "stunningly realistic" metaverse

6/22/2022

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Global entertainment and media had a strong year outpacing global economic growth. Revenues were USD 2.3 trillion last year, virtual reality grew 36% and esport will become a USD 324 billion business, consultancy PwC says in an outlook for 2022 – 2026. The company predicts that in the not-too-distant future the metaverse could become a stunningly realistic world where individuals access immersive virtual experiences, through a VR headset or other connecting device.

“Following a pandemic-related 2.3% decline in 2020, E&M revenue rose a strong 10.4% in 2021, from USD 2.12 trillion to USD 2.34 trillion.  With the industry becoming more digital, more mobile and more youth-oriented, virtual reality (VR) and gaming are powerful growth drivers, while digital advertising permeates all of the industry.”

“We are seeing the emergence of a global E&M consumer base for the coming years that is younger, more digital and more into streaming and gaming than the current consumer population. This is shaping the future of the industry”, says Werner Ballhaus, Global Entertainment & Media Industry Leader, PwC Germany.

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  • Home
  • News
  • Nominations
    • Top Global Event
    • Top Metaverse Platform & Virtual World
    • Top VC or Accelerator
    • Top Blockchain Developer Services Provider
    • Most Impactful Marketing Advertising Campaign
    • Most-promising Corporate VC Investment
    • Top Corporate Partnership
    • Top Legal Firm for Metaverse/Web 3.0 businesses
    • Top Avatar Design Company
    • Top Digital Twin Initiative Enterprise
    • Top Digital Twin Initiative Consumer
    • Top Cloud, Enterprise or Technology Partner
    • Top Partner for establishing early-stage presence in Metaverse
    • Most Innovative NFT Project
    • Top 3D Design Firm for Metaverse
    • Top Fashion Brand Initiative
    • Top Consumer Experience & Entertainment
    • Top Sports Brand Initiative
    • Top Enterprise Productivity initiative
    • Top Digital Payments platform
    • Most Exciting Scale-up Company
    • Top XR AR VR Firm
    • Most Exciting Hardware for Metaverse/Web3
    • Most Promising Haptics Initiative
  • 2023 Summit & Awards
    • VIP Jury
    • Summit Agenda - Day 2
    • Strategic Partners Matchmaking - Day 1
    • Venue
      • Hotel Reservation
    • Tickets
      • Pay via Credit Card
  • Exhibitors
  • Contact
    • 2022 Event
      • VIP Jury
      • Agenda 2022
      • Photos 2022
      • Videos 2022
    • FAQs
    • Brella Event App & Networking