Metaverse AR & VR Hardware - United Arab Emirates

The Metaverse AR & VR Hardware market is forecasted to achieve a value of US$4.6m in 2024.
This market segment is projected to exhibit an annual growth rate of 12.44% from 2024 to 2030, resulting in a market volume of US$9.3m by 2030.
The United Arab Emirates is expected to play a significant role in this market.
In 2024, the market volume is projected to reach US$405.0m, with United States generating the majority of the value.
By 2030, the number of users in the Metaverse AR & VR Hardware market is expected to reach 95.0k users.
The user penetration rate is forecasted to be 0.5% in 2024 and is anticipated to increase to 1.0% by 2030.
The average value per user (ARPU) is expected to be US$87.7.
With its booming tech industry and affluent population, the United Arab Emirates is experiencing a surge in demand for high-end Metaverse AR & VR hardware.

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 United Arab Emirates is experiencing significant growth and development.

Customer preferences: In United Arab Emirates, there is a growing demand for Metaverse AR & VR Hardware products. Customers are increasingly interested in immersive experiences and virtual reality technologies. They are seeking innovative and cutting-edge solutions that can enhance their gaming, entertainment, and communication experiences. The younger generation, in particular, is driving the demand for these products, as they are more tech-savvy and open to embracing new technologies.

Trends in the market: The Metaverse AR & VR Hardware market in United Arab Emirates is witnessing several trends. Firstly, there is a rise in the adoption of virtual reality headsets and accessories. These devices offer a more immersive and realistic experience, allowing users to explore virtual worlds and interact with digital content in a more engaging way. Additionally, there is a growing demand for augmented reality glasses and devices. These products overlay digital information onto the real world, enabling users to interact with both physical and virtual elements simultaneously. Another trend in the market is the integration of Metaverse AR & VR Hardware with other industries. For example, the real estate sector is utilizing virtual reality to showcase properties and provide virtual tours to potential buyers. The education sector is also incorporating augmented reality into classrooms to create interactive and engaging learning experiences. Furthermore, the gaming industry is leveraging virtual reality technologies to provide more immersive gameplay and enhance the overall gaming experience.

Local special circumstances: United Arab Emirates has a tech-savvy population and a strong focus on innovation and technology. The government has been actively promoting the development and adoption of emerging technologies, including virtual reality and augmented reality. This has created a favorable environment for the growth of the Metaverse AR & VR Hardware market. Additionally, the country has a high disposable income and a culture that embraces luxury and high-end products, which further fuels the demand for premium virtual reality devices.

Underlying macroeconomic factors: The United Arab Emirates has a strong and stable economy, driven by industries such as oil and gas, tourism, and real estate. The country has a high GDP per capita, indicating a high standard of living and purchasing power. This provides individuals with the financial means to invest in Metaverse AR & VR Hardware products. Furthermore, the government's focus on diversifying the economy and promoting innovation has led to increased investment in technology and infrastructure, creating a conducive environment for the growth of the Metaverse AR & VR Hardware market. In conclusion, the Metaverse AR & VR Hardware market in United Arab Emirates is experiencing significant growth and development. Customer preferences for immersive experiences and innovative technologies are driving the demand for virtual reality and augmented reality devices. The integration of Metaverse AR & VR Hardware with various industries is also contributing to the market's growth. The local special circumstances, including the tech-savvy population and government support for innovation, further support the market's expansion. Additionally, the strong and stable economy of United Arab Emirates, along with the high disposable income of its residents, provides a favorable environment for the adoption of Metaverse AR & VR Hardware products.

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.