DUBLIN--(BUSINESS WIRE)--The "UAE Augmented and Virtual Reality Market (2017-2023)" report has been added to ResearchAndMarkets.com's offering.
UAE augmented and virtual reality market is projected to grow at a CAGR of over 55% during 2017-23.
With the introduction of mobile apps as well as declining prices of virtual and augmented reality headsets, the market registered an exponential growth of 112% during 2015-16.
The market is further anticipated to register higher growth during the forecast period on the back of increasing usage of AR and VR headsets in the commercial sector for media, construction, and hospitality industries. Further, the market is also gaining acceptance in head-mounted and smart glasses for advertisements.
Additionally, head-mounted display segment contributed major share of the market revenues due to its high utilization in gaming and education sectors. Among all the verticals, the entertainment application acquired highest revenue share of the market. Whereas, over the next six years, the commercial and automotive applications are forecast to grow at a higher CAGR during the forecast period.
Also, in UAE, the Northern region held major share of the AR and VR market in terms of market revenues on the back of growing commercial sector in Dubai emirate. The Northern region is further expected to maintain its dominance during the forecast period as well.
Burgeoning gaming industry, increasing penetration of online games, FDI in retail and commercial sectors along with surge in penetration of AR and VR technology in the automotive industry especially for research and development applications are few key factors which have fueled the growth of UAE augmented and virtual reality market. UAE market is projected to record sound growth over the next 10 years on the back of progressive acceptance of AR and VR technology in retail and commercial sectors.
- Head Mounted Display
- Head-Up Display
- Smart Glass Mobile Devices
- Apple ME FZCO
- DENSO Corporation
- Facebook Inc.
- Google Inc.
- HTC Corporations
- Microsoft Gulf FZ LLC
For more information about this report visit https://www.researchandmarkets.com/research/pnxc88/uae_augmented_and?w=4