UAE Metaverse Market Will Hit Big Revenues in Future

MarkNtel Advisors has released a research report on the UAE Metaverse Market Size, Share, Analysis, Research, Report 2028. The research segment utilizes efficient methodologies to convey sales and revenue forecasts for the specified years, enhancing user understanding and supporting well-informed decision-making. Through a combination of qualitative and quantitative data, this report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges. To familiarize both existing businesses and new entrants with the present market scenario, the report delivers detailed growth prospects for the industry and concise insights into competitors.

UAE Metaverse Market Insights:

The UAE Metaverse market is projected to grow at a CAGR of around 28% during the forecast period, i.e., 2023-28.

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Possible Restraint: Challenges Arising from Threats associated with Cyber Attacks

The potential threats from phishing, malware, viruses, virtual asset thefts, DDoS attacks, etc., are considerably high in a virtual ecosystem. In the technological universe, malware & viruses can be used to gain unauthorized access to a user’s device, steal sensitive information, or disrupt the experience. Similarly, distributed denial of service (DDoS) attacks can flood a metaverse platform with traffic that can cause it to slow down or crash & disrupt the user experience or even make the platform inaccessible. These threats & attacks could lead to a loss of user confidence, ultimately hampering its reputation & market growth.

Growth Opportunity: Dubai’s Metaverse Strategy to Open New Doors

The Dubai government’s Metaverse Strategy, launched in 2022, aims to attract more than 1,000 companies in the fields of blockchain & metaverse & to generate more than 40,000 virtual jobs by 2030. In line with this policy, the government would provide the necessary support to developers, content creators, and users of digital platforms in the metaverse community. Thus, this strategy would create a favorable environment for innovation & investment, which would provide new opportunities for the market players to grow & expand in the country during the forecast period.

Leading Companies Operating in the UAE Metaverse Industry:

-Microsoft Gulf FZ LLC

-Tencent Games

-Meta Platforms, Inc.

-NexTech AR Solutions Corp.

-Nvidia Corporation

-Queppelin

-The Sandbox

-ByteDance

-Zero Latency

-Decentraland

-Others

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UAE Metaverse Market Categorization:

The UAE Metaverse Market exhibits a high degree of fragmentation, categorizing into distinct segments as follows:

By Application

-Gaming

-Online Shopping

-Digital Marketing

-Events & Conference

-Others (Testing & Inspection, Social Media & Content Creation)

By Technology

-Augmented Reality (AR)

-Virtual Reality (VR)

-Mixed Reality (MR)

-Block Chain

By End User

-Banking, Financial Services, and Insurance (BFSI)

-Government

-Media & Entertainment

-Retail

-Healthcare

-Others (Education, Telecommunication, etc.)

By Region

-Dubai

-Abu Dhabi & Al Ain

-Sharjah & Northern Emirates

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Frequently Asked Questions (FAQs)

• How are cost and profit estimations evolving within the UAE Metaverse Industry?
• How do factors such as supply and consumption contribute to the industry landscape?
• How do import and export considerations influence the dynamics of the UAE Metaverse Industry?
• Which technological advancements are expected to influence the future of the UAE Metaverse Market?
• Who are the prominent players featured in the UAE Metaverse Market research report?
• What are the projected valuations in USD, and what is the CAGR for the forecasted years?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

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