U.K. Augmented and Virtual Reality Market Outlook (2018 to 2032)
Synopsis
The above chart is U.K. Augmented and Virtual Reality Market Outlook (2018 to 2032)
Market Dynamics
The u.k. augmented and virtual reality (ar/vr) market is largely driven by advances in technology and the increased availability of applications and products that use ar and vr. emerging technologies such as head-mounted displays, motion and gesture tracking systems, haptics, and eye-tracking are all becoming commonplace in the ar/vr market. consequently, demand for content and services is expected to rise as users are better able to understand and experience content in immersive ways.the u.k. ar/vr market is estimated to grow at a compound annual growth rate (cagr) of 37.2% between 2018-2032, reaching a total market size of 10.70 million euros. this growth rate is driven by the increasing availability of ar/vr products such as google glass, oculus rift, and microsoft hololens, as well as the increasing demand for virtual reality (vr) gaming headsets.business demand for ar/vr is also expected to remain strong over the coming years. enterprises are increasingly looking to integrate the technology into their business models, particularly in the areas of retail, healthcare, and education. for instance, in retail, ar/vr is increasingly being used to enhance customer experiences such as product demonstration, branding, and marketing. in healthcare, ar/vr is being used to provide medical staff with more comprehensive, up-to-date information when diagnosing and treating patients, as well as to simulate surgeries and share medical diagnostics amongst colleagues.in terms of revenue, ar/vr products accounted for 92% of total ar/vr revenue in 2018, with annual growth rates of up to 5.9%. the most popular products in the u.k. market are google glass, oculus rift, and microsoft hololens, with mobile apps accounting for the majority of the revenues generated. the ar/vr market in the u.k. is expected to continue to grow over the next decade or so. this growth will be driven by the increasing affordability of the technology, as well as more widespread availability of products, services, and applications. furthermore, regulations and standards are expected to be introduced to address safety concerns, which will help to further facilitate the adoption of the technology.
