UK virtual reality market is growing at a CAGR of around 33.3% during the forecast period. The video gaming sector is the most competitive sector in the U.K., with at present 29 companies involved in the development of virtual reality technology. The interaction of virtual reality technology with the human body is significantly increasing day-by-day. Moreover, the introduction of augmented reality and virtual reality has made a revolutionary change in the construction sector. The Advanced Manufacturing Research Centre with Boeing (AMRC) in Sheffield and the University of Strathclyde’s Advanced Forming Research Centre (AFRC) has introduced the augmented and virtual reality technology to the country.

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Visualization and Virtual Reality (VVR) organization enable the manufacturers of the UK to visualize their industry, products, and on-going processes in a virtual way. The Advanced Manufacturing Research Centre (AMRC), Manufacturing Technology Centre (MTC), Nuclear AMRC and Warner Music Group (WMG) have formed the association that aims in the delivery of the high- value manufacturing catapult visualization and VR forum. The VR forum has augmented the use of advanced immersive visualization system, in order to assist manufacturing companies. Some of the recent applications of virtual reality technology include the assembly training in factories, virtual prototyping, factory layout planning, and human factors assessment. Hence, contributing to the UK virtual reality market growth.

The Government of the UK offers tax breaks for the development of innovative technologies, which includes Enterprise Investment Scheme and R&D tax credits.  Healthy start-up environment, lots of investment for the development of innovative technologies, and good access to finance are the key characteristics responsible for the VR market growth in the country, especially in London. The government supports the development of virtual reality companies not only in London; however, in all over the UK, majorly in the East Coast and in Greater Manchester.

Research Methodology

The market study of the UK virtual reality market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for virtual reality software and service providers, VR devices manufacturers, and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. UK Virtual Reality Market Research and Analysis by Component

2. UK Virtual Reality Market Research and Analysis by System

3. UK Virtual Reality Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the UK Virtual Reality market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the UK Virtual Reality market.
• Insights about market determinants which are stimulating the UK Virtual Reality market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.