-
- All Industries /
- Technology /
- UK Extended Reality (XR) Market Report 2024
UK Extended Reality (XR) Market Report 2024
- Multiple Report Formats
- Access to our Clients Portal
- Interactive Databook
- Custom Presentation Tool
VR headsets occupy a discretionary tech purchase, and are less pivotal to consumers lives than computers and phones. Financial pressures have softened demand for premium tech, prompting major brands in 2024 to cut prices on key headsets in response to the downturn.
The main threat to VR continues to be ongoing issues with usability and comfort with wearing headsets. Consumers do not want to wear them for prolonged periods. Aesthetically, AR aesthetic appeal is essential to achieve widespread adoption. Advances in technology aim to address these barriers, with newer, lightweight designs promising practical, everyday utility.
60% of consumers believe VR headsets will become mainstream, despite current ownership sitting at around 10%. This optimism highlights strong confidence in the industry’s future, offering VR manufacturers the opportunity to drive innovation and effectively communicate their advancements.
Price drops of leading VR headsets will see the market remain steady. Longer term technological advances and cosmetic changes will see AR headset ownership become more commonplace.
Joe Birch, Senior Technology and Leisure Analyst
This Report examines the UK market for VR and AR, including consumer use and attitudes towards the technologies.
For the purposes of this Report, Mintel has used the following definitions:
Extended Reality (XR): Extended Reality refers to virtual, augmented and mixed reality technologies.
The metaverse: The definition of a metaverse is difficult to pin down and is hotly debated. It is typically regarded as a ‘persistent virtual world’. The ‘persistent’ part is important because it means a virtual space that can be accessed at any time by different people, and one that doesn’t disappear when you stop accessing it as is the case with traditional video games, for example. Metaverses can be accessed via virtual reality, augmented reality and devices such as smartphones and tablets. The ‘metaverse’ is not a single thing; rather, a number of different metaverses exist simultaneously.
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
Access high-quality market research with every purchase of Mintel’s consumer reports. Here’s what else is included in your report purchase:
From consumer reports to customised growth strategies. We have an option to suit your business requirements.
Find out more£ 5,000 – £ 21,600
Mintel’s 2024-25 Global Outlook on Sustainability: A Consumer Study is designed to help you understand what brands and companies should prioritise in order to educate consumers and ensure...
Find out more£ 2,195
Safety features and cost concerns dominate consumer preferences, with a focus on value and reliability in new vehicle technologies.Manufacturers should expedite the development and integration of automated diagnostic...
Find out more£ 2,195
While traditional search engines remain the go-to for most search activities, younger audiences, particularly women aged 16-24, frequently turn to social media for searches related to beauty, fashion,...
Find out more£ 2,195
The smartwatch market continues to grow, but at a slower rate than in the previous years. Future growth is likely tempered by a flattening out of demand, as...
Find out more£ 2,195
This report looks at the following areas: Consumers' device payment habits and views on future payment technologies Smartphone ownership, operating system, app usage and 5G connectivity Smartphone and...
Find out more£ 2,195
While 83% of consumers have some sort of smart device at home, 37% of them don't control their smart home devices. In addition to the limited number of...
Find out moreFrom consumer reports to customised growth strategies. We have an option to suit your business requirements.
Find out more