2023
9
UK VR and AR Market Report 2023
2024-01-02T10:01:30+00:00
REP528F2A83_2987_47B4_91E6_0FA898E9E7AA
2195
169263
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Report
en_GB
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…

UK VR and AR Market Report 2023

£ 2,195 (Excl.Tax)

Description

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.

Additional Features Included with Your Purchase

  • Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
  • Consumer Confidence Tracker: Our Trackers paint the picture of the economic confidence and major concerns of up to 40 different demographics, tracking changes in attitudes over time.
  • Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes.
  • Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentations.
  • Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive catalogue of market research reports.

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

Adrian Reynolds
Principal Analyst

Table of Contents

    • Key issues covered in this Report
  1. Executive Summary

    • Opportunities for the VR and AR market
    • Market dynamics and outlook
    • Graph 1: market size for consumer VR and AR headsets, 2019-23
    • What consumers want and why
    • Graph 2: use of VR and AR technologies, 2023
    • Graph 3: willing to spend on VR headset in the next 12 months, 2023
    • Graph 4: barriers to using VR, 2023
    • Innovations and marketing trends
  2. Market Dynamics

    • Market size
    • Graph 5: market size for consumer VR and AR headsets, 2019-23
    • Market forecast
    • Market drivers
    • Graph 6: ownership of VR headsets, 2018-23
    • Graph 7: consumer awareness of the metaverse, 2022
    • Graph 8: Google searches for the word “metaverse”, 2021-23
    • Macro-economic factors
    • Graph 9: CPI and CPIH inflation, 2016-23
    • Graph 10: financial wellbeing index, 2016-23
    • Graph 11: financial confidence index, 2016-23
  3. What Consumers Want And Why

    • Use of XR technologies
    • Graph 12: use of VR headsets, by age, 2023
    • Graph 13: use of AR technologies, 2023
    • Graph 14: overall AR use in the last 12 months, by age, 2023
    • Interest in VR activities
    • Graph 15: interest in VR activities, 2023
    • Graph 16: interest in VR gaming, by age, 2023
    • Graph 17: interest in VR cultural experiences, by age, 2023
    • Spending on VR headsets
    • Graph 18: willingness to spend on VR headset over next 12 months, 2023
    • Barriers to using VR
    • Graph 19: barriers to using VR, 2023
    • Attitudes towards VR
    • Graph 20: attitudes towards VR, 2023
    • Graph 21: agreement with “the release of Apple’s Vision Pro headset will be ground-breaking”, by age, 2023
    • Graph 22: agreement with “VR will have a positive impact on how people interact with each other”, by age, 2023
    • Graph 23: agreement with “access to the metaverse will encourage more people to buy AR/VR products in the future”, by age, 2023
    • Attitudes towards AR
    • Graph 24: attitudes towards AR, 2023
    • Graph 25: agreement with “wearing AR glasses will become normal in the future”, by age, 2023
    • Graph 26: agreement with “AR glasses will make in-store shopping more efficient”, by age, 2023
  4. Innovation And Marketing Trends

    • Competitive strategies
    • Launch activity and innovation
    • Advertising and marketing activity
  5. Appendix

    • Report scope and definitions
    • Methodology
    • Market forecast data and methodology

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

Below is a sample report, understand what you are buying.

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2024 Sample Consumer Cover

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

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