UK Immersive Technology Market

UK Immersive Technology Market Overview: 

The UK immersive technology market is projected to exhibit a growth rate (CAGR) of 22.70% during 2024-2032. The market is expanding due to the growing ownership of smartphones, increasing reliance on artificial intelligence (AI), rising demand for virtual training and simulation, governing agencies initiatives, and ongoing advancements in technology.

UK Immersive Technology Market Trends:

Rising Ownership of Smartphones

According to the content updated in 2023 on the website of the Government of U.K., 91% of adults in England owned a smartphone. Smartphones serve as accessible platforms for experiencing augmented reality (AR) and virtual reality (VR) applications. Many AR experiences, such as mobile AR games and applications like Snapchat filters, rely on smartphone cameras and processing power to overlay digital content onto the real world. Similarly, VR experiences can be accessed through smartphone-compatible VR headsets, offering immersive content without the need for dedicated VR equipment. Moreover, with the growing number of smartphone users, there is a broader potential audience for immersive technology applications. This expanded number of users continually seeks for AR and VR content in entertainment, gaming, education and other relevant sectors, thereby supporting the growth of the market.

Besides this, the increasing use of smartphones is leading to the creation of mobile augmented reality applications in different fields of industries like retail and marketing, and even education, smartphones make it possible to implement effective and interactive AR solutions.

Increasing Reliance on Artificial Intelligence (AI)

AI-powered algorithms and machine learning (ML) techniques are improving the realism, interactivity, and personalization of immersive experiences. AI can be used to dynamically adjust virtual environments in real-time based on user interactions or biometric data, enhancing immersion. Furthermore, AI is facilitating the creation of more sophisticated and personalized immersive content. Natural language processing (NLP) algorithms can generate interactive dialogue in virtual environments, while AI-driven content generation tools can automate the creation of 3D assets and environments.

In line with this, the use of AI-based virtual agents incorporated into the experience can improve customer interaction and offer tailored recommendations or support. Such assistants can modify their answers according to the user’s actions and preferences, making communication more natural and productive. AI analytics and data processing capabilities are leveraged to derive actionable insights from user interactions within immersive environments. This data is important for developers and content creators as it facilitates experience customization, trend analysis, and content delivery enhancement. An article published in 2023 on the website of the International Trade Administration (ITA) shows that the UK AI market is valued at over $21bn, and it is estimated to grow to over $1tn by 2035.

UK Immersive Technology Market News:

• April 12, 2023: Meta and Esade announced a partnership to analyze the impact of immersive technologies in education. This combined effort is part of a broader program in which academic establishments, think tanks and other experts from the UK, Italy, Spain, France and Germany will examine how immersive technologies can enhance learning, boost job prospects for young people and contribute to training.
• May 26, 2023: BT Group launched UK’s first immersive interactive simulation experience to supply business and public sector clients with 5G-enabled simulations of real-world environments in an internal or external room, or mobile unit.
   

UK Immersive Technology Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on component, technology, application, and industry.

Component Insights:

• Hardware
  • Head Mounted Devices (HMD)
  • Gesture Tracking Devices (GTD)
  • Projectors and Display Walls (PDW)
• Software
• Services
  • Professional Services
  • Managed Services
     

The report has provided a detailed breakup and analysis of the market based on the component. This includes hardware, (head mounted devices (HMD), gesture tracking devices (GTD), and projectors and display walls (PDW)), software, and services, (professional services and managed services).

Technology Insights:

• Virtual Reality (VR)
• Augmented Reality (AR)
• Mixed Reality (MR)
• Others
   

A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes virtual reality (VR), augmented reality (AR), mixed reality (MR), and others.

Application Insights:

• Training and Learning
• Emergency Services
• Product Development
• Sales and Marketing
• Others
   

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes training and learning, emergency services, product development, sales and marketing, and others.

Industry Insights:

• Aerospace and Defense
• Manufacturing
• Automotive
• Education
• Media and Entertainment
• Gaming
• Healthcare
• Retail and E-Commerce
• Others
   

A detailed breakup and analysis of the market based on the industry have also been provided in the report. This includes aerospace and defense, manufacturing, automotive, education, media and entertainment, gaming, healthcare, retail and e-commerce, and others.

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Immersive Technology Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK immersive technology market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UK immersive technology market?
• What is the breakup of the UK immersive technology market on the basis of component?
• What is the breakup of the UK immersive technology market on the basis of technology?
• What is the breakup of the UK immersive technology market on the basis of application?
• What is the breakup of the UK immersive technology market on the basis of industry?
• What are the various stages in the value chain of the UK immersive technology market? 
• What are the key driving factors and challenges in the UK immersive technology?
• What is the structure of the UK immersive technology market and who are the key players?
• What is the degree of competition in the UK immersive technology market?  

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK immersive technology market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK immersive technology market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK immersive technology industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.