UAE Metaverse Market Growth Dynamics: Size, Share, and Trend Analysis Report
Markntel Advisors’ report, UAE Metaverse Research Report: Industry Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the UAE Metaverse presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
UAE Metaverse Market Industry Research Report & Market Summary:
The UAE Metaverse market is projected to grow at a CAGR of around 28% during the forecast period, i.e., 2023-28. There is a vibrant gaming culture in the UAE, which has the highest number of adult gamers in the world, which contributes to the market expansion. The gaming industry has a large & growing audience who are interested in immersive, interactive experiences that allow them to connect with others & explore new virtual environments. The growth of the gaming industry in the country has led to the development of new technologies & platforms that support the metaverse ecosystem.
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UAE Metaverse Market Dynamics:
Key Driver-
Government Strategy to Make the UAE Global Hub for the Metaverse to Support the Market
The UAE’s vision of becoming a global hub for the metaverse community and one of the world’s top metaverse economies contribute to the market’s growth. Initiatives like Dubai 10X 2.0, launched at the World Government Summit 2018, provide support & funding to innovative startups & companies, enabling them to develop new solutions & services using metaverse technology. The launch of the national Artificial Intelligence (AI) program BRAIN (Building a Responsive Artificial Intelligence Nation) in late 2017, which highlighted advancements in AI & Robotics, has also significantly supported sales growth during 2018-22.
AI and robotics are closely related to the metaverse as they offer the technological infrastructure for the creation & simulation of virtual environments. Moreover, government support for AI & robotics has attracted talented professionals & entrepreneurs to the country, who have helped foster the growth of the country’s market. Furthermore, the government’s National Artificial Intelligence Strategy 2031 aims at positioning the UAE as a global leader in artificial intelligence by 2031, contributing in enhancing the market size during the forecast period.
UAE Metaverse Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Component
- Hardware
- Displays
- Extended Reality (XR) Hardware
- Haptic Sensors & devices
- Omni Treadmills
- Smart Glasses
- AR/VR Devices
- Software
- Asset Creation Tool
- Programming Engines
- Others (Virtual Platforms, Avatar Development)
- Services
Among them, Extended Reality Hardware has showcased considerable growth during the historical period due to its significant use in areas like gaming & entertainment, education & training, and business applications.
By Application
- Gaming
- Online Shopping
- Digital Marketing
- Events & Conference
- Others (Testing & Inspection, Social Media & Content Creation)
By Technology
- Augmented Reality (AR)
- Virtual Reality (VR)
- Mixed Reality (MR)
- Block Chain
Of them all, Blockchain technology has showcased significant growth due to support from various government strategies like Emirates Blockchain Strategy 2021, Dubai Blockchain Strategy, etc. Owing to this, in 2021, Dubai became home to more than 100 blockchain businesses & also witnessed a 24% spike in the use of blockchain compared to the global average of 19%.
By End User
- Banking, Financial Services, and Insurance (BFSI)
- Government
- Media & Entertainment
- Retail
- Healthcare
- Others (Education, Telecommunication, etc.)
By region
- Dubai
- Abu Dhabi & Al Ain
- Sharjah & Northern Emirates.
As indicated in the latest market research report published by Markntel Advisors, “UAE Metaverse Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the UAE Metaverse. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/uae-metaverse-market.html
Top Companies Operating in the UAE Metaverse Market:
- Microsoft Gulf FZ LLC
- Tencent Games
- Meta Platforms, Inc.
- NexTech AR Solutions Corp.
- Nvidia Corporation
- Queppelin
- The Sandbox
- ByteDance
- Zero Latency
- Decentraland
- Others.
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & UAE Metaverse Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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