The UAE Metaverse Market Size, Share, and overview research report forecast 2023-2028 offers a comprehensive overview of the market, including current trends and forecast growth in terms of service and products. The reader may use this information to better understand the market under consideration's quantitative growth elements. This research focuses on crucial market growth indicators and examines revenue development, value chain analysis, and geography studies in great detail.
To get a competitive edge in the industry, top suppliers are focusing on providing high-quality, economical, and new technologies employing existing materials. Leading producers compete in terms of price, quality, design, and aftermarket support. The competition is increasing and getting better thanks to technological know-how and investments made through partnerships and agreements.
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The study's objective was to:
- Market size by major regions/nations and other study segments are taken into account and analysed.
- A better comprehension of market structure.
- Identifies, portrays, and examines Market Players to determine value, share, the competitive landscape, SWOT analysis, and future development strategies.
- To assess the market's particular growth trends, potential, and overall commitment.
- To convey in-depth information about the major market growth influences (growth potential, industry-specific challenges, and risks).
- To assess the market's size in relation to important regions and the relevant main countries.
- To assess market developments for competitive analysis, such as market growth, partnerships, new product introductions, and acquisitions.
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, supporting the market during the forecast period.
Industry Players Development
- 2022: The Sandbox during the 62nd edition of the ‘True Global Ventures Conference’ announced to develop Metaverse City in Dubai named ‘Dubaiverse’. Local partnerships, involving companies in various industries such as film, music, entertainment, acting, finance, real estate, and gaming, would be utilized to construct Dubaiverse.
Competitively in the UAE Metaverse Market:
To create superior business plans and obtain a competitive advantage, it is essential to consider historical firm performance, basic operational techniques, and the product and service portfolio. This research provides an in-depth analysis of the leading players in the worldwide UAE Metaverse market historical firm performance, basic operational techniques, and the product and service portfolio. These businesses have engaged in a number of joint ventures, collaborations, mergers, and acquisitions in order to forge a strong position in the market:
Top Companies of 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
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Important UAE Metaverse Market Segmentation
The market segmentation section explains segments to readers. The report outlines their historical development as well as the future course they will probably take. In-depth details on new trends that may influence these segments' future are also included. In addition to providing projections for 2023-2028 at the global, regional, and national levels, the report looks at important trends in each sub segment of the worldwide market.
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
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
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
Important Concerns Addressed in This UAE Metaverse Market Report:
- How has the worldwide UAE Metaverse Market performed thus far, and how will it fare in the years to come?
- What effect did COVID-19 have on the market?
- Which geographical markets are most crucial?
- How does the market division appear?
- What are the various steps in the industry's value chain?
- What are the industry's primary driving forces and obstacles?
- How is the UAE Metaverse Market structured globally, and who are the key players?
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