VR Software - United Arab Emirates

United Arab Emirates

Highlights

In the United Arab Emirates, revenue in the VR Software market market is projected to reach US$13.0m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 8.88%, leading to a projected market volume of US$19.9m by 2029.
Although most revenue is generated the United States, the UAE is also witnessing growth in this sector.
In the VR Software market market, the number of users in the United Arab Emirates is expected to amount to 666.0k users by 2029.
User penetration will be 5.8% in 2024 and is projected to reach 6.7% by 2029.
The average revenue per user (ARPU) in the UAE is expected to amount to US$23.5.
The United Arab Emirates is witnessing a surge in demand for VR software, driven by its commitment to innovation and digital transformation across various sectors.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The VR Software market in United Arab Emirates is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this growth.

Customer preferences in the VR Software market in United Arab Emirates are shifting towards more immersive and interactive experiences. Consumers are seeking out software that allows them to fully engage with virtual reality content, whether it be for entertainment, education, or business purposes. This preference for immersive experiences is driving the demand for VR Software that offers high-quality graphics, realistic simulations, and seamless interaction.

Trends in the market are also contributing to the growth of the VR Software market in United Arab Emirates. One significant trend is the increasing adoption of virtual reality technology across various industries. Businesses are recognizing the potential of VR Software to enhance training programs, improve customer experiences, and streamline operations.

As a result, there is a growing demand for VR Software that caters to the specific needs of different industries, such as healthcare, real estate, and tourism. Another trend in the market is the development of VR Software applications for mobile devices. With the widespread use of smartphones and tablets, there is a growing demand for VR Software that can be accessed and used on these devices.

This trend is driven by the convenience and accessibility of mobile VR Software, as well as the increasing processing power and capabilities of mobile devices. Local special circumstances in United Arab Emirates also contribute to the growth of the VR Software market. The country has a strong focus on innovation and technology, with initiatives such as the Dubai Future Accelerators program and the Dubai Smart City project.

These initiatives promote the adoption and development of emerging technologies, including virtual reality. Additionally, the high disposable income and tech-savvy population in United Arab Emirates create a favorable environment for the growth of the VR Software market. Underlying macroeconomic factors further support the growth of the VR Software market in United Arab Emirates.

The country has a stable and growing economy, with a strong focus on diversification and digital transformation. This creates opportunities for businesses in the VR Software market to expand and thrive. Additionally, the government has implemented policies and regulations that support the development of the technology sector, including tax incentives and investment in infrastructure.

In conclusion, the VR Software market in United Arab Emirates is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards immersive experiences, the adoption of VR technology across industries, the development of mobile VR Software, and the supportive business environment all contribute to the growth of the market. As the demand for VR Software continues to increase, the market in United Arab Emirates is expected to expand further in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on VR software revenue, which includes revenues from video games and VR videos consumed via stand-alone or tethered units.

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:

F2The 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).