AR Hardware - GCC | Statista Market Forecast

AR Hardware - GCC

GCC

Highlights

Revenue in the AR Hardware market market in the GCC region is projected to reach US$37.9m in 2024.
Revenue in this sector is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 13.57%, leading to a projected market volume of US$71.6m by 2029.
While the majority of revenue is generated the United States with a projected market volume of US$2.3bn in 2024, the GCC market is also poised for growth.
In the AR Hardware market market, the number of users in the GCC is expected to amount to 869.9k users by 2029.
User penetration in the GCC is projected to be 0.6% in 2024 and is anticipated to reach 1.6% by 2029.
Furthermore, the average revenue per user (ARPU) in the GCC is expected to reach US$135.1.
The GCC is witnessing a surge in AR hardware adoption, driven by regional investments in smart cities and immersive entertainment experiences.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The AR Hardware market in GCC is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to the expansion of the AR Hardware market in the region.

Customer preferences in the GCC region are playing a crucial role in driving the growth of the AR Hardware market. Customers are increasingly seeking innovative and immersive technologies that enhance their experiences. AR Hardware provides a unique way for customers to interact with digital content in real-world environments, making it highly appealing to tech-savvy consumers in the GCC.

Trends in the market further support the growth of the AR Hardware market in the GCC. The region is witnessing a rise in the adoption of augmented reality technology across various industries, including retail, healthcare, and entertainment. Companies in these sectors are leveraging AR Hardware to enhance customer engagement, improve operational efficiency, and provide personalized experiences.

This trend is driving the demand for AR Hardware devices and solutions in the GCC. Local special circumstances in the GCC also contribute to the development of the AR Hardware market. The region has a strong focus on technological advancements and innovation, with governments and businesses actively investing in emerging technologies.

This supportive environment fosters the growth of the AR Hardware market, as companies have access to resources and incentives to develop and deploy AR solutions. Underlying macroeconomic factors in the GCC are also favorable for the growth of the AR Hardware market. The region has a thriving economy and a high disposable income among its population.

This enables consumers and businesses to invest in AR Hardware devices and solutions. Additionally, the GCC is home to a young and tech-savvy population, which further drives the demand for AR Hardware products. In conclusion, the AR Hardware market in the GCC is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The region's focus on innovation, the adoption of AR technology across industries, and favorable economic conditions all contribute to the expansion of the AR Hardware market in the GCC.

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR hardware revenue, which includes digital spending on hardware (headsets and glasses) that enables consumers to experience augmented reality.

Modeling approach / market size:

The market size is determined through a top-down approach. We use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as consumer spending, internet penetration, 4G coverage, and historical developments.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are level of digitalization, adoption of technology, GDP per capita, and internet penetration.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).