UAE Metaverse Market Braces for 28% CAGR Elevate Until 2028
Prominent Features of the UAE Metaverse Market Report for 2028
MarkNtel Advisors has recently published a research report titled UAE Metaverse Market for the forecast year, 2023-28. MarkNtel Advisors is a prominent provider of market research and business intelligence solutions. Our extensive range of reports and services caters to the needs of businesses, investors, and professionals seeking informed decision-making in dynamic and competitive markets.
Insights into the UAE Metaverse Market
According to the analysis conducted by MarkNtel Advisors, The Global UAE Metaverse Market is projected to grow at a CAGR of around 28% during the forecast period, i.e., 2023-28 UAE Metaverse Market. In the midst of rapid transformations within the UAE Metaverse market, it is imperative for businesses and investors to maintain a strategic advantage. Our report provides an in-depth examination of key market players, potential opportunities, and valuable insights, equipping our clients with the necessary information to make well-informed decisions amidst this dynamic environment.
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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.
Lucrative Segments in the UAE Metaverse Market
Clients seeking to enhance their returns in this market must make informed decisions. Keeping this in mind, our analysis examines potential investment hubs by considering projected demand, anticipated returns, profit margins, and market stability.
The UAE Metaverse Market is highly fragmented and bifurcates into the following segmentations:
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.
By End User
-Banking, Financial Services, and Insurance (BFSI)
-Government
-Media & Entertainment
-Retail
-Healthcare
-Others (Education, Telecommunication, etc.)
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By region
-Dubai
-Abu Dhabi & Al Ain
-Sharjah & Northern Emirates
Competitive Landscape of UAE Metaverse Market
The key players profiled in the research report are Microsoft Gulf FZ LLC, Tencent Games, Meta Platforms, Inc., NexTech AR Solutions Corp., Nvidia Corporation, Queppelin, The Sandbox, ByteDance, Zero Latency, Decentraland, Others., We at MarkNtel Advisors, diligently identify and analyze each and every prominent player, including their new product launch, merger in recent years, acquisitions, and collaborations if any. This aids our clients in making better projections and staying competitive in the market.
Customization Services
MarkNtel Advisors offer customization services on reports to the stakeholders & investors, covering all the relevant aspects required in a comprehensive, unbiased, accurate, & reliable manner. It aims principally to enable the players to curate all the fundamentals underlying the market potential in the future & make informed decisions & strategies.
Frequently Asked Questions
- What is the projections in CAGR for the forecast period?
- What trends are currently on the rise in the UAE Metaverse Market?
- How can companies leverage opportunities present in the UAE Metaverse Market?
- What regulatory factors are shaping the landscape of the UAE Metaverse Market?
- In what ways has technology impacted the UAE Metaverse Market environment?
About Us
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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