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Is lack of budget your barrier for growth?

9 December 2019 <> Written by Jamie Hinton Tagged: Digital Transformation tech budgets VR AR Immersive technology

The UK is currently Europe’s largest market for VR / AR, tapping into what is predicted to become a US$160 billion immersive technologies market. Immerse UK and Digital Catapult have co-authored a report that provides evidence of the growth of the sector and its key drivers and barriers. The report explores the geographical and industrial spread of companies working with immersive technologies.

The report shows there are currently around 1,250 active immersive specialist companies in the UK. One of which, is us. Founded to help businesses stay relevant in a fast-paced world of digital technologies, we offer innovative insights and deliver transformational products and services across several sectors.

One of the primary concerns in this industry however, is finance, where 52% of businesses feel that limited access to finance is a key barrier to implementing digital technologies. Digital transformation is a big business and it can be costly if not planned for appropriately.

Focus on taking small, incremental steps when it comes to accessing the tangible opportunities digital transformation can create. Think clearly about the kind of data and knowledge that would be of most value - this is where our Discovery process can help. It’s a framework that enables us to select the most effective tools and techniques for each Discovery that we conduct, during which we immerse our experts with you, your colleagues and your customers. Results can then be presented, before you make any final decisions on investment.

What is evident is that immersive technologies are becoming increasingly important in the development of new products and services across all industries, but there are still concerns that give rise to growth barriers, which are holding the sector back from fulfilling its full potential.

To view the full report, please visit Immerse UK. However, while you’re here, you may also want to take a look at our whitepaper entitled What every CEO needs to know about digital transformation. It explores digital transformation and its benefits in more depth. Download the whitepaper now, or contact us to find out more about how we can help you.

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