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GCC Augmented and Virtual Reality Market Research Report: Forecast (2023-2028)

By Technology (AR technology:, [Marker-based AR technology:, Marker-less AR technology, VR Technology, [Non-immersive Technology, Semi-immersive and Fully-Immersive Technology]), By Device Type (AR De... ... y Device Type (AR Devices, VR Devices), By Offering (Hardware, [Sensors, Semiconductor Components, Display and Projectors, Position Trackers, Cameras, Others], Software, [Software Development Kits, Cloud-based Services]), By End User (E-Commerce & Retail, Industrial Manufacturing, Energy, Education, Automotive, Defence & Aerospace, Healthcare, Construction Industry, Agriculture, Gaming & Entertainment, Others), By Country (The UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman), By Company (Sony Corporation, Lenovo, Autodesk Inc., HTC Corporation, Google, Barco, HP Development Company L.P., Microsoft, LG Electronics, Meta, Others) Read more

ICT & Electronics
Apr 2023
Pages 145
Report Format: PDF, Excel, PPT

Market Definition

Augmented reality (AR) allows the projection of digital media, such as pictures, movies, and 3D models, onto the physical world. By fusing digital data with the user's environment in real-time, augmented reality (AR) improves the user's sense of reality. Virtual reality (VR), on the other hand, fabricates a wholly artificial setting that mimics a user's actual physical presence in a virtual environment. The user cannot see or interact with their physical world since they are engrossed in the simulated 3D environment.

Market Insights & Analysis: GCC Augmented and Virtual Reality Market (2023-28)

The GCC Augmented and Virtual Reality market is projected to grow at a CAGR of around 39% during the forecast period, i.e., 2023-28. The market is presumed to enhance owing to the growing usage of Augmented Reality (AR) & Virtual Reality (VR) technologies across a variety of sectors, including healthcare, education, retail, and entertainment. After the impact of the COVID-19 pandemic, i.e., during 2021-2022, the adoption of these technologies grew as businesses & organizations explored novel ways to interact with clients & staff online.In general, technical developments, rising investments, and the rising demand for immersive & interactive experiences across various industries have been fueling the market's growth trajectory during the historical years.

Further, due to enhanced investments in smart city projects & initiatives, the market has been experiencing significant growth across the GCC region for these technologies. It is majorly as the construction industry across the countries like Saudi Arabia, the UAE, Qatar, etc., is one of the earliest adopters of these technologies. Construction firms are adopting these technologies to improve Urban planning & infrastructure management.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	39%
Country Covered	The UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman
Key Companies Profiled	Sony Corporation, Lenovo, Autodesk Inc., HTC Corporation, Google, Barco, HP Development Company L.P., Microsoft, LG Electronics, Meta, Others
Unit Denominations	USD Million/Billion

In addition, these technologies also allow the creation of a 3D model of the buildings, which helps the planners & the architects to easily identify the flaws in the design & modify it accordingly even before starting the construction projects. Hence, the rising number of construction projects across the region has been escalating the adoption of these technologies during 2018-2022.

Moreover, educational institutions in the GCC region are becoming aware of how AR & VR can improve students' learning experiences. These technologies have been helping students visualize arduous concepts, increase engagement & retention, and create more individualized learning environments by offering immersive & interactive experiences. Hence, this has led educational organizations across the region to adopt these technologies to educate disciplines like science, technology, engineering, and math. For instance,

The American University of Sharjah, in the United Arab Emirates, announced the integration of virtual reality to instruct civil engineering students about building design & construction methods, in 2021. Also, healthcare training is increasing the integration of AR and VR to replicate medical procedures and teach medical staff by performing surgeries in a virtual environment. Hence, the adoption of AR & VR solutions in the education sectors like healthcare, science, math, technology, etc., is anticipated to considerably support the growth of the market during 2023-2028.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
GCC Augmented and Virtual Reality Market Start-up Ecosystem
1. Year-on-Year Funding
2. Key Investors Active in the Market
3. Series-wise Funding Received
GCC Augmented and Virtual Reality Market Trends & Developments
GCC Augmented and Virtual Reality Market Dynamics
1. Growth Drivers
2. Challenges
GCC Augmented and Virtual Reality Market Regulations, Policies & Standards
GCC Augmented and Virtual Reality Market Hotspots & Opportunities
GCC Augmented and Virtual Reality Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Technology
    1. AR technology:
      1. Marker-based AR technology:
        
        Active Marker
        
        Passive Marker
      2. Marker-less AR technology
        
        Model-base Tracking
        
        Image processing-based Tracking
        
        Anchor-based AR
    2. VR Technology
      1. Non-immersive Technology
      2. Semi-immersive and Fully-Immersive Technology
  2. By Device Type
    1. AR Devices
      1. Head Mounted Displays
        
        AR Smart Glasses
        
        Smart Helmets
      2. Head-Up Displays
    2. VR Devices
      1. Head Mounted Displays
      2. Gesture Control Device
      3. Projector and Display Wall
  3. By Offering
    1. Hardware
      1. Sensors
      2. Semiconductor Components
      3. Display and Projectors
      4. Position Trackers
      5. Cameras
      6. Others
    2. Software
      1. Software Development Kits
      2. Cloud-based Services
  4. By End User
    1. E-Commerce & Retail
    2. Industrial Manufacturing
    3. Energy
    4. Education
    5. Automotive
    6. Defence & Aerospace
    7. Healthcare
    8. Construction Industry
    9. Agriculture
    10. Gaming & Entertainment
    11. Others
  5. By Country
    1. The UAE
    2. Saudi Arabia
    3. Qatar
    4. Kuwait
    5. Bahrain
    6. Oman
  6. By Company
    1. Competition Characteristics
    2. Revenue Shares & Analysis
The UAE Augmented and Virtual Reality Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Technology
  2. By Device Type
  3. By Offering
  4. By End User
Saudi Arabia Augmented and Virtual Reality Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Technology
  2. By Device Type
  3. By Offering
  4. By End User
Qatar Augmented and Virtual Reality Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Technology
  2. By Device Type
  3. By Offering
  4. By End User
Kuwait Augmented and Virtual Reality Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Technology
  2. By Device Type
  3. By Offering
  4. By End User
Bahrain Augmented and Virtual Reality Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Technology
  2. By Device Type
  3. By Offering
  4. By End User
Oman Augmented and Virtual Reality Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Technology
  2. By Device Type
  3. By Offering
  4. By End User
GCC Augmented and Virtual Reality Market Key Strategic Imperatives for Success & Growth
Competition Outlook
1. Competition Matrix
  1. Product Portfolio
  2. Target Markets
  3. Research & Development
  4. Strategic Alliances
  5. Strategic Initiatives
2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
  1. Sony Corporation
  2. Lenovo
  3. Autodesk Inc.
  4. HTC Corporation
  5. Google
  6. Barco
  7. HP Development Company L.P.
  8. Microsoft
  9. LG Electronics
  10. Meta
  11. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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