The Immersive Economy Report in the UK 2019 highlights sectors that are driving the development of immersive technologies. Bernadette Fallon explores how the VR, AR and MR innovations are central to revolutionising the UK’s transport systems.
The future for immersive technology in the UK’s transport sector is bright, according to the Immersive Economy Report in the UK 2019, produced by Immerse UK and Digital Catapult. With new revenue streams opening up and traditional barriers breaking down, the UK has the potential to be a strong player in this space. In fact, according to a recent report published by the Society of Motor Manufacturers and Traders (SMMT) and Frost & Sullivan, the UK is the world’s number one location for mass-market potential of Connected and Autonomous Vehicles (CAV) with a £62bn annual economic opportunity predicted by 2030.
From CAVs to rail transport for passengers and freight, from aerospace to electric scooters, developments in connectivity, data and technology disruptors have seen unprecedented change in this sector.
Positive impacts enabled by technological innovation on the flow of people and goods have the potential to boost economic growth, consumer experience and environmental benefits. Reports forecast that reduced congestion through 5G-enabled transport systems could cut commute times by 10 per cent, save £880 million a year in lost productivity and reduce CO2 emissions by 370,000 metric tonnes. Meanwhile, global markets for connected autonomous transport and new mobility services are estimated to value £581bn and £525bn respectively by 2030, according to the UK’s Connected Places Catapult.
To support UK businesses to avail of the opportunities opening up in this space, the catapult is pioneering a visualisation laboratory to revolutionise transport systems across the country. With the potential to solve national transport problems at a lower cost and reduced risk, experts at the catapult believe immersive technology will help cement the UK’s position as a world leader in transport.
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The Immersive Economy Report in the UK 2019