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AR Software - United Arab Emirates

United Arab Emirates

The AR Software market in the United Arab Emirates is anticipated to witness significant growth in the coming years.
By 2024, the revenue in this market is projected to reach a substantial amount of US$47.1m .
Furthermore, it is expected to exhibit an annual growth rate of 8.99% (CAGR 2024-2029), resulting in a projected market volume of US$72.4m by 2029.
In terms of market size, in the United States currently holds the majority share, with a projected market volume of US$3,945.0m in 2024.
This highlights the dominant position of the United States in the AR Software market.
As for the number of users, it is expected to witness a steady increase over the forecast period.
By 2029, the number of users is projected to reach 6.9m users.
In 2024, the user penetration rate is estimated to be 70.0%, which is expected to rise to 69.6% by 2029.
Moreover, the average revenue per user (ARPU) is expected to amount to US$7.0 .
This metric reflects the average revenue generated per user in the AR Software market.
Overall, the AR Software market in the United Arab Emirates shows promising growth potential, with significant revenue projections, increasing user base, and a steady rise in user penetration.
The United Arab Emirates is experiencing a surge in demand for AR software, driven by the country's commitment to technological innovation and its desire to enhance the customer experience.

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Analyst Opinion

The AR Software market in United Arab Emirates is experiencing significant growth and development due to several factors.

Customer preferences: Customers in United Arab Emirates are increasingly showing a preference for AR software due to its ability to enhance user experiences and provide interactive and immersive content. AR software allows users to overlay digital information onto the real world, creating a unique and engaging experience. This appeals to customers who are seeking innovative and interactive solutions for entertainment, education, and business purposes.

Trends in the market: One of the key trends in the AR Software market in United Arab Emirates is the increasing adoption of AR technology in various industries. For example, the retail sector is using AR software to provide virtual try-on experiences for customers, allowing them to visualize how products will look before making a purchase. The tourism industry is also leveraging AR technology to offer augmented reality tours and experiences, enhancing the overall visitor experience. Another trend in the market is the growing demand for AR software in the education sector. AR technology is being used to create interactive and immersive learning experiences, making education more engaging and effective. This trend is driven by the increasing recognition of the benefits of AR in improving student engagement and knowledge retention.

Local special circumstances: United Arab Emirates has a strong focus on innovation and technology, which has contributed to the growth of the AR Software market. The government has been actively promoting the adoption of emerging technologies, including AR, through initiatives such as the Dubai Future Accelerators program. This has created a favorable environment for AR software companies to thrive and innovate.

Underlying macroeconomic factors: The strong economic growth in United Arab Emirates has also contributed to the development of the AR Software market. The country has a thriving business environment and a high level of disposable income, which has increased the demand for innovative technologies and experiences. Additionally, the young and tech-savvy population in United Arab Emirates is driving the adoption of AR software, as they are more open to embracing new technologies and experiences. In conclusion, the AR Software market in United Arab Emirates is experiencing significant growth and development due to customer preferences for interactive and immersive experiences, the adoption of AR technology in various industries, the focus on innovation and technology by the government, and the strong macroeconomic factors in the country. This trend is expected to continue in the coming years, as more businesses and industries recognize the potential of AR software in enhancing user experiences and driving growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR software revenue, which includes revenues related to in-app purchases as well as revenues from the purchase of social media, gaming, and eCommerce apps.

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).