Overview of UAE Metaverse Market Size & Future Outlook

According to the latest report by MarkNtel Advisors, the UAE Metaverse Market size is estimated to grow at a CAGR of around 28% from 2023-2028. This report is designed to enhance user understanding and support informed decision-making by thoroughly analyzing key market shifts, identifying gaps, exploring emerging opportunities, and assessing industry trends and competitive challenges. By combining both qualitative and quantitative data, it offers a comprehensive overview, highlighting growth prospects and providing valuable insights into competitors, helping both established companies and new entrants navigate the current market landscape.

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What are the key drivers influencing the growth of the UAE Metaverse market?

This section provides a detailed analysis of the market drivers and factors is explored thoroughly below.

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.

How is the UAE Metaverse market segmented and what are the key factors within each segment?

The UAE Metaverse market has been further segmented into distinct categories. Analyzing growth within these segments allows you to identify niche opportunities, develop targeted strategies, and understand the variations in your core application areas and target markets.

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.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/uae-metaverse-market.html

Who are the Key Market Players in the UAE Metaverse industry?

The competitive landscape of the UAE Metaverse market provides a detailed look at the key players in the industry. This includes an overview of each company, their financial performance, revenue generation, and market potential. It also covers their investments in R&D, new market initiatives, production facilities, and strengths and weaknesses. Additionally, the analysis looks at recent product launches, approvals, the range of products offered, their dominance in different applications, and the product life cycle. All of this information is specifically focused on how each company is positioning itself within the market.

Several key players are actively operating in the market, including

  • 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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