Metaverse AR & VR Hardware - MENA

Market size in the Metaverse AR & VR Hardware market is projected to reach US$24.3m in 2024.
Market size is expected to show an annual growth rate (CAGR 2024-2030) of 13.09%, resulting in a projected market volume of US$50.9m by 2030.
With a projected market volume of US$405.0m in 2024, the largest market size is generated United States.
In the Metaverse AR & VR Hardware market, the number of users is expected to amount to 543.1k users by 2030.
User penetration will be 0.1% in 2024 and is expected to hit 0.1% by 2030.
The average Market size per user (ARPU) is expected to amount to US$85.3.

Definition:

The AR (augmented reality) and VR (virtual reality) market refers to the physical devices used to access and interact with virtual reality environments, including both augmented and virtual worlds. As discussed here, this market includes headsets and/or glasses for AR and VR devices.

Structure:

AR & VR Hardware includes two markets, namely AR Hardware and VR Hardware. AR Hardware refers to headsets or glasses that are used to create augmented reality inferences between the real and virtual world. VR Hardware mainly refers to headsets that aim to create a virtual world for consumers.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through consumer spending on hardware such as headsets and glasses. Data shows both online and offline market sizes. Market numbers for VR headsets are also featured in the Consumer Market Insights, namely in the Gaming Equipment market of the Consumer Electronics market and the AR & VR Hardware market in the Advertising & Media Insights. Key players in the market include companies such as Meta (Oculus VR), Microsoft (HoloLens), and Playstation VR.

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Augmented Reality Glasses used for metaverse experience, such as HoloLens
Virutal Reality headsets used for metaverse experience, such as Oculus Quest

Augmented Reality Glasses used for non metaverse experience, such as HoloLens
Virutal Reality headsets used for non metaverse experience, such as Oculus Quest
Non-electronic devices, such as mobile phone equipment

The Metaverse AR & VR Hardware market in MENA is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the MENA region are driving the demand for Metaverse AR & VR Hardware.

Consumers are increasingly seeking immersive and interactive experiences, which can be provided by AR and VR technologies. The desire to explore virtual worlds, play games, and engage in social interactions within the Metaverse is fueling the demand for AR and VR hardware in the region. Trends in the market are also contributing to the growth of the Metaverse AR & VR Hardware market in MENA.

The adoption of AR and VR technologies is becoming more mainstream, with a growing number of companies and industries incorporating these technologies into their operations. This includes sectors such as gaming, entertainment, education, healthcare, and real estate, among others. The increasing use of AR and VR in these industries is driving the demand for hardware devices that can support these immersive experiences.

Local special circumstances in the MENA region are also playing a role in the development of the Metaverse AR & VR Hardware market. The region has a young and tech-savvy population, which is driving the demand for innovative technologies. Additionally, governments in the region are investing in the development of digital infrastructure and supporting initiatives that promote the adoption of AR and VR technologies.

These factors are creating a favorable environment for the growth of the Metaverse AR & VR Hardware market. Underlying macroeconomic factors are also contributing to the development of the Metaverse AR & VR Hardware market in MENA. The region has been experiencing economic growth and diversification, which has led to an increase in disposable income and consumer spending.

As a result, more individuals are able to afford AR and VR hardware devices, driving the demand for these products in the market. Furthermore, the region's increasing focus on technology and innovation is attracting investments and fostering a conducive environment for the growth of the Metaverse AR & VR Hardware market. In conclusion, the Metaverse AR & VR Hardware market in MENA is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The demand for immersive and interactive experiences, along with the increasing adoption of AR and VR technologies in various industries, is driving the market. The region's young and tech-savvy population, supportive government initiatives, and favorable macroeconomic conditions are also contributing to the growth of the market.

Data coverage:

Figures are based on in-app spending, consumer spending, online and offline sales, and data from the AR & VR market in the AMI.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, augmented reality (AR) glasses, smartphone apps, or other devices.