WHY THIS IS IMPORTANT TO WISCONSIN: Wisconsin technology companies’ expertise may complement this growing interest.
Immersive technology is taking the United Kingdom (UK) by storm.
The product list includes devices that are virtual reality (VR), augmented reality (AR), mixed reality (MR), or extended reality (XR), differentiated based on how much they engage the user through sight, sound, and touch.
In the UK, the industry has generated £4 billion ($5.9 billion USD) and employs more than 28,000 people. It is expected to top £11 billion ($15 billion USD) by 2030, according to Grow London.
London has emerged as a major global hub for immersive technology, ranking first in Europe and fifth worldwide in venture capital investment. Over the previous five years, London attracted more than $1.5 billion in funding, with 56% of that allocated to Metaverse-related projects, according to a 2022 report by London & Partners.
Other UK regions are also experiencing rapid growth. Coventry and Warwickshire have built a reputation as a world-class hub for game development and AR/VR content creation. In addition, cities such as Brighton, Bristol, Newcastle, Liverpool, and Belfast are becoming key players in the immersive technology ecosystem.
Rising consumer interest in immersive experiences is a key driver of the sector’s growth as consumers seek more engaging and interactive content. Immersive technology is transforming the way people experience gaming, entertainment, education, and shopping.
Recent advancements have made high-quality VR and AR devices more accessible and affordable, boosting adoption rates. For example, Apple introduced its Vision Pro VR headset in the UK in 2024; the device enables users to interact with 3D objects in real-time, elevating their digital experiences. Also, U.S.-based Sandbox VR opened its largest global venue in Birmingham in 2023.
Businesses are using AR and VR to create interactive customer experiences, from virtual shopping to immersive brand storytelling. In education, universities and training institutions are incorporating immersive simulations to enhance learning. Health care is using immersive technology for surgical training, remote consultations, rehabilitation, and medical imaging. In manufacturing and engineering, companies are leveraging VR for virtual prototyping, training, and collaboration, leading to cost savings and increased efficiency.
Investment opportunities in the sector continue to grow, supported by both government and private sector initiatives. Wisconsin companies may consider collaborating with UK tech firms to develop VR/AR solutions; investing in UK-based immersive startups to gain early access to cutting-edge innovations; setting up UK operations to benefit from government funding, grants, and tax incentives; and expanding consumer-focused VR/AR products in the increasingly tech-savvy UK market.
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