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Metaverse AR & VR Hardware - United Kingdom

United Kingdom

The Metaverse AR & VR Hardware market is projected to reach a value of €59.0m in 2024.
This market is expected to exhibit a compound annual growth rate (CAGR 2024-2030) of 12.73%, resulting in a projected market volume of €121.1m by 2030.
The United Kingdom is a significant player in this market, with a projected market volume of €375.5m in 2024.
In terms of user base, the number of users in the Metaverse AR & VR Hardware market is expected to reach 1.2m users by 2030.
The user penetration rate is predicted to be 0.9% in 2024 and is expected to increase to 1.7% by 2030.
Furthermore, the average value per user (ARPU) is projected to be €93.2.
The United Kingdom is witnessing a surge in demand for Metaverse AR & VR Hardware, with companies investing heavily in research and development to meet consumer needs.

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Analyst Opinion

The Metaverse AR & VR Hardware market in United Kingdom has been experiencing significant growth in recent years, driven by customer preferences for immersive and interactive experiences, as well as advancements in technology.

Customer preferences: Customers in the United Kingdom are increasingly seeking out immersive experiences that allow them to escape from reality and engage with virtual worlds. This has fueled the demand for AR and VR hardware, as these technologies provide a gateway to the metaverse. Whether it's exploring virtual worlds, attending virtual events, or collaborating in virtual workspaces, customers are looking for hardware that can deliver a seamless and immersive experience.

Trends in the market: One of the key trends in the Metaverse AR & VR Hardware market in United Kingdom is the increasing adoption of VR headsets. These devices offer a fully immersive experience, allowing users to feel like they are truly present in a virtual environment. With advancements in technology, VR headsets have become more affordable and accessible, making them an attractive option for consumers. Another trend in the market is the growing popularity of AR glasses. Unlike VR headsets, AR glasses overlay digital information onto the real world, allowing users to interact with virtual objects while still being aware of their surroundings. This technology has various applications, from gaming and entertainment to industrial and professional use cases.

Local special circumstances: The United Kingdom has a strong gaming and entertainment industry, which has contributed to the growth of the Metaverse AR & VR Hardware market. The popularity of gaming and the demand for immersive experiences have created a favorable environment for the adoption of AR and VR hardware. Furthermore, the United Kingdom is home to several innovative technology companies that are driving advancements in AR and VR hardware. These companies are developing cutting-edge devices that offer enhanced features and capabilities, further fueling the growth of the market.

Underlying macroeconomic factors: The growth of the Metaverse AR & VR Hardware market in United Kingdom is also influenced by underlying macroeconomic factors. The country has a strong economy and high disposable income levels, which enable consumers to invest in AR and VR hardware. Additionally, the government's focus on technology and innovation has created a supportive environment for the development and adoption of these technologies. In conclusion, the Metaverse AR & VR Hardware market in United Kingdom is experiencing significant growth due to customer preferences for immersive experiences, advancements in technology, the country's strong gaming and entertainment industry, and favorable macroeconomic factors. The increasing adoption of VR headsets and AR glasses is driving the market forward, with innovative companies leading the way in developing cutting-edge hardware.

Methodology

Data coverage:

Figures are based on in-app spending, consumer spending, online and offline sales, and data from the AR & VR market in the AMI.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.