UK VR and AR Market Report 2023

Stay ahead of the curve and future-proof your business with Mintel’s UK VR and AR Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest VR market research, trends and consumer behaviours affecting your business. Get a 360° view of the market UK including VR and AR market size, share and forecasted growth to help you align your business strategy with the needs of your audience.

Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics. 

Topics Analysed in this Report

• The impact of the cost of living crisis on value and volume sales of extended reality headsets.
• The latest innovations and potential impact of new entrants to the VR market.
• Consumer use of extended reality technologies.
• Interest in VR activities.
• Barriers to using VR headsets.
• Consumer attitudes towards extended reality technologies.

AR and VR Market Outlook

The income squeeze has limited spending on non-essentials, while inflation and rapid innovation have seen significant increases in the prices of VR headsets. The entrance of Apple to the market in 2024 will certainly drive interest, but the high price point will limit sales growth.

• VR and AR market size: Mintel estimates that the value of the AR and AR market size is £338 million.

VR Industry Trend and Opportunities

Demonstrate practical use cases for AR

There is an opportunity for brands to shift away from entertainment perceptions of AR and instead lean towards more practical applications to help introduce the technology to an older demographic Brand must raise awareness of this technology and the possibility of alternative applications such as visualising furniture, in-store AR mirrors and live translation via AR glasses.

• AR market trend: 34% of people believe wearing AR glasses will become normal in the future.

Expand VR arcades to capitalize on interest

Ownership of VR headsets has remained fairly stable in recent years. Despite this, people are finding other ways to use VR, particularly through the increasing number of VR arcades and events. With the latest headsets seeing major price rises, it could prove a real opportunity for arcades to expand and provide consumers with the chance to try out new headsets.

• VR industry trend: 19% of people have used a VR headset in the last year.

Purchase our UK VR and AR Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Consumers and the Metaverse Market Report 2023, or our range of Technology Market Research.

Companies Featured in the Full Report

Apple, Vision Pro, Google Glass, Qualcomm, DNA VR, Meta, Quest, PlayStation, HTC, Xreal, Steam.

Expert Insights from a Technology Analyst

This report, written by Adrian Reynolds, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the AR and VR market market and add expert context to the numbers.

The extended reality market continues to evolve but headset sales are struggling for growth. AR is reaching more people with more accessible practical use cases.

Adrian Reynolds
Principal Analyst