United Kingdom Metaverse Market to be dominated by VR and AR Technology till 2027

Increased adoption of blockchain technology by fintech industry and trend of trading digitized assets and tokens are expected to drive the demand for the United Kingdom metaverse market throughout the forecast period.

According to TechSci Research report, “United Kingdom Metaverse Market By Region, Competition Forecast & Opportunities, 2027”, the United Kingdom metaverse market is expected to witness steady growth in the forecast period. The market is driven by the growing focus on converging digital and physical worlds and the increased awareness about the virtual token and economy. Metaverse is a term used to define a virtual and highly immersive 3D environment using a mixture of augmented reality, virtual reality, and mixed reality. The technology creates a virtual world where users can engage in conducting business, immersive gaming, buy, sell, inspect real estate, and enjoy immersive entertainment facilities.

The metaverse technology can act as a boon for the aerospace and defense sector of the country. Technologies such as mixed reality augmented, and virtual reality could be used in training and simulation applications. And the integration of metaverse technology with these technologies is expected to create data-driven applications in real-time. Trainees could be provided with a 3D view of the cockpit and other surroundings and help them know to train the ground crew. The advanced technologies could also be used to analyze the data, find malfunctions, and inspect airplanes to ensure passenger safety while flying the airplane. 

However, the high installation and maintenance costs of metaverse components may restrain the growth of the United Kingdom metaverse market in the forecast period.

Browse XX Figures spread through XX Pages and an in-depth TOC on "United Kingdom Metaverse Market”.

United Kingdom metaverse market is segmented into component, device, application, offering, technology, regional distribution, and competitive landscape.

Based on component, the market is divided into hardware, software, and service. The hardware segment is expected to hold the largest market share in the forecast period, 2023-2027. The growing awareness about the latest technologies and adoption of augmented reality, virtual reality, and mixed reality hardware devices are driving the demand for the hardware segment.

Based on device, the market is divided into desktop, mobile, and others. The desktop segment is expected to capture the highest market share in the forecast period, 2023-2027. The large-screen display and high resolution enable the viewer to see the whole display in one go.

Based on Application, the market is divided into online shopping, gaming, social media, content creation, conferences, and others. The gaming segment is expected to witness a substantial segment in the forecast period owing to the growing expenditure capacity of consumers and increased demand for leisure and entertainment activities.

Based on offering, the market is divided into virtual platforms, asset marketplace, avatars, and financial services. Virtual platforms are expected to hold the dominant market share owing to increased adoption of these platforms for multiple uses like advertising, academics, and branding.

Based on technology, the market is divided into the blockchain, VR & AR, mixed reality, and others. The VR & AR segment is expected to account for a significant market share in the forecast period. Augmented reality and virtual reality technology witness high demand in several industries like healthcare, education, and the entertainment industry.

Major market players operating in the United Kingdom metaverse market are:

  • Meta Platform Inc.
  • Nvidia Corporation
  • Microsoft Corporation
  • Tencent Holdings Inc.
  • Bytedance
  • Epic Games
  • Netease Inc.
  • Roblox Corporation
  • Lilith Games
  • Nextech AR Solutions Inc.

Download Free Sample Report

Customers can also request for 10% free customization on this report.

“The gaming and media, and entertainment industry are expected to transform after the commencement of metaverse technology. Increased adoption of augmented reality, virtual reality, and mixed reality technology and the growing use of smart glasses, smart helmets, HUD, VR, and MR headsets is expected to enhance the shopping experience for consumers. Users' experience is anticipated to increase manifold by using the metaverse technology. Increased investments and developments by the media and entertainment market players to capture the highest market share are expected to propel the growth of the United Kingdom metaverse market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a global research-based management consulting firm.

“United Kingdom Metaverse Market By Component (Hardware, Software, Service), By Device (Desktop, Mobile, Others), By Application (Online Shopping, Gaming, Social Media, Content Creation, Conferences, Others), By Offering (Virtual Platforms, Asset Marketplace, Avatars, and Financial Services), By Technology (Blockchain, VR & AR, Mixed Reality, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United Kingdom metaverse market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United Kingdom metaverse market.

Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Website: https://www.techsciresearch.com

Comments

Post a Comment

Popular posts from this blog

Defense Cyber Security Market 2028 By Trends, Share, Growth and Demand Forecast

Image
Growing severity of cyber-attacks on military/government organizations and increasing government initiatives to secure critical data  are a major factor attributable to the growth of the market. According to TechSci Research report, “ Global Defense Cyber Security Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028” . The Global  Defense Cyber Security is anticipated to project robust growth in the forecast period with a CAGR of  13.06% through 2028, Various governments across the world are looking to adopt cybersecurity automation solutions for their military applications by concentrating on reducing operating expenditures (OPEX) while maintaining adequate measures against cyberthreats. Further, with the increasing dependency of military organizations on the internet network, the frequency and sophistication of cyberattacks are on the rise. To counter all these vulnerabilities, there is a major focus on adopting cyber security solutions in the defens
Read more

VOIP Services Market Analysis and Future Growth, Forecast 2029

Image
Rising Adoption of unified communication solutions and increasing globalization and cross-border business operations are likely to drive the Market in the forecast period. According to TechSci Research report, “ VOIP Services Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029 ”, the Global VOIP Services Market is experiencing a surge in demand in the forecast period. A prominent driver propelling the global Voice over Internet Protocol (VoIP) services market is the compelling combination of cost efficiency and scalability. Unlike traditional telephony systems, VoIP leverages existing internet infrastructure, minimizing the need for dedicated phone lines and associated maintenance costs. This results in significant cost savings for businesses and individuals, especially in long-distance and international communications, making VoIP an economically attractive alternative. Furthermore, the scalability inherent in VoIP services is instrumental in
Read more

Unmanned Surface Vehicle (USV) Market Outlook 2029 By Demand, Share, Revenue Analysis

Image
The major drivers for the Global Unmanned Surface Vehicle USV Market include increasing demand for cost-effective and fuel-efficient personal aviation solutions, coupled with advancements in lightweight materials and avionics technologies. According to TechSci Research report, “ Global Unmanned Surface Vehicle USV Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029 ”, the Global Unmanned Surface Vehicle USV Market stood at USD 2.41 billion in 2023 and is anticipated to grow with a CAGR of 4.61% in the forecast period, 2025-2029. The global Unmanned Surface Vehicle (USV) market is currently witnessing an unprecedented surge in growth, fueled by a rising need for enhanced maritime security, comprehensive environmental monitoring, and in-depth oceanographic studies. This surge in demand has acted as a catalyst, driving the development and deployment of highly advanced USVs that leverage cutting-edge technologies such as artificial intelligence and machin
Read more