Today sees the launch of the Immersive Economy in the UK Report, which defines the scale, nature and economic value of immersive technology like virtual reality (VR) and augmented reality (AR). This VR and AR market research news from Immerse UK, a government body, describes a fast-growing, confident and export-intensive industry that is already adding economic value to the UK.
Whilst VR and AR tend to be focused on media and creative markets, it’s good to see diversification into education, architecture, manufacturing and – of course – market research where new technology is transforming traditional methods. The immersive tech market is expected to generate $1bn in sales in the UK during 2018 which is potentially 9% of the total global market. 70% of companies are exporting products and services overseas so the UK is in a good position to lead innovation in new sectors.
The full report can be download at Innovate UK however if you have any questions please don’t hesitate to get in touch regarding other VR and AR market research news.
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