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PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1166191

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PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1166191

Saudi Arabia AR and VR Market, By Product ; By Organization Size ; By Offering ; By Application ; By End User, Trend Analysis, Competitive Landscape & Forecast, 2018-2028

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Saudi Arabia AR and VR Market Size to Zoom at High CAGR of 24.8% during 2018-2028

Saudi Arabia AR (augmented reality) and VR (virtual reality) Market is flourishing owing to an increased demand for AR in the architecture sector, opportunities in enterprise applications, and rapid growth in the country's healthcare, hospitality, manufacturing, and tourism industries.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the size of Saudi Arabia AR and VR market size to grow at an impressive CAGR of 24.8% during the forecast period between 2022 and 2028. The entertainment and media sector is expected to fuel the demand for augmented reality (AR) and virtual reality (VR) during the period of analysis. In the coming years, Saudi Arabia AR and VR market growth is expected to be driven by the aerospace and defense sector. The healthcare market's numerous AR and VR applications will improve the sector's growth prospects in the years to come. During the forecast period, the market growth is also expected to be fueled by the emergence of AR and VR marketing. The manufacturing industry is also to be a major driver of market demand during the forecast period. In the coming years, the increasing demand for AR and VR applications from the education sector will also boost the expansion of Saudi Arabia AR and VR market.

Saudi Arabia AR and VR Market - Overview

The way entertainment is provided has changed dramatically. Consumption patterns are no longer similar to those of the past. AR can track the speed and position of the balls in real-time, as well as the weather forecast, background of the players, and other factors. The audience will feel as if they are watching the game from the comfort of their own homes. Live music concerts can be streamed and viewed remotely using AR and VR-enabled apps. 3D models, videos, and images can be used instead of print advertising. AR billboards will provide consumers with a truly immersive experience simply by scanning their phones. With constant web connectivity, content can be tailored to the preferences of viewers. This is expected to accelerate the growth of Saudi Arabia market for AR and VR during the ensuing years.

Students will experience a fun, engaging, and interactive VR simulation of a particular topic. Extended sound, imagery, and texts will be used to enhance existing realities. With the aid of virtual tours of historic landmarks and archeological sites, teachers will be able to controllably explain complex subjects in the classroom. These will leave a lasting impression on the minds of the students. Everything will be experienced firsthand by students in the convenience of their homes or classrooms. VR is widely used for a variety of other applications aside from education and training. For example, in the automobile industry, the VR technology allows engineers to experiment with a vehicle's design and construction at the concept stage before embarking on costly prototypes. VR exposure therapy is also used to treat people suffering from mental illnesses. Furthermore, tourism operators use VR technology to allow potential clients or customers to take virtual tours of monuments, iconic destinations, restaurants, and hotels. All these factors are expected to boost the growth of Saudi Arabia AR and VR market in the coming years.

Saudi Arabia AR and VR Market - Technology Advancements

AR and VR are increasing the level of interaction between digital content and its viewers. Digital connections have taken precedence in personal, professional, and entertainment arenas as a result of COVID-19 pandemic. For example, VR allows fans to watch live sports events in a 360-degree format, providing an enriching experience from the comfort of their own homes. AR will provide experts and fans with real-time information, such as weather conditions, ball speed and trajectory, player track record, and other data. The same can be said for musical performances, theatre experiences, concerts, and amusement parks. This is expected to propel the growth of Saudi Arabia AR and VR market in the coming years.

Saudi Arabia AR and VR Market - Segmental Information

Saudi Arabia AR and VR market has Head Mounted Displays, Handheld Applications, Smart Glass, Head-up Displays, and AR Software segments based on the product. The market is divided into three categories based on the organization type: small, medium-sized, and large enterprises. The market is segmented into Hardware, Software, and Services; into Enterprise and Consumer; and into Retail, Healthcare, Hospitality, Aerospace & Defense, Automotive, Architecture, and Others based on end user. During the forecast period, the healthcare segment is expected to hold a significant market share in Saudi Arabia AR and VR market.

Impact of COVID-19 on Saudi Arabia AR and VR Market

During the COVID-19 outbreak, several industries were temporarily shut down, and lockdowns were implemented to stop the virus's spread, impacting business operations nationwide. The demand for AR and VR grew as businesses increasingly need to conduct their operations online. Businesses now use virtual platforms to carry out ongoing operations, such as attending meetings and creating policies and strategies. Further developing as promising tools for virtual events, AR and VR technology event organizers give attendees interesting and varied experiences by hosting the event on a virtual platform and presenting it as a VR experience. Saudi Arabia AR and VR market is forecast to grow as due to the increasing popularity of virtual events.

Competitive Landscape

Prominent players in Saudi Arabia AR and VR market include Cubix, TechGropse Pvt. Ltd., Midwam, Scope Technologies Co, CodesOrbit PVT LTD, Golden Logic Company, EON Reality, iSpectra, Visual Experience, Dolf Technologies, and Miraj Media. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Saudi Arabia AR and VR market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia AR and VR market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia AR and VR market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC22541

Table of Contents

1. Research Framework

  • 1.1. Research Objective
  • 1.2. Product Overview
  • 1.3. Market Segmentation

2. Executive Summary

3. Saudi Arabia AR and VR Market Insights

  • 3.1. Industry Value Chain Analysis
  • 3.2. DROC Analysis
    • 3.2.1. Growth Drivers
      • 3.2.1.1. Increasing demand for AR and VR devices and applications in healthcare sector
      • 3.2.1.2. Growing demand for AR in retail and e-commerce sectors due to COVID-19
      • 3.2.1.3. Rising investments in AR deployment in hospitality sector
    • 3.2.2. Restraints
      • 3.2.2.1. Security and privacy issues associated with AR and VR
      • 3.2.2.2. Health issues associated with excessive usage of AR
    • 3.2.3. Opportunity
      • 3.2.3.1. Partnerships between telecom players and AR manufacturers to reduce latency
      • 3.2.3.2. Increasing demand for AR in architecture
      • 3.2.3.3. Opportunities in enterprise applications
      • 3.2.3.4. High growth in travel and tourism industry
    • 3.2.4. Challenges
      • 3.2.4.1. Display latency and limited field of view
  • 3.3. Technological Advancements/Recent Developments
  • 3.4. Regulatory Framework
  • 3.5. Porter's Five Forces Analysis
    • 3.5.1. Bargaining Power of Suppliers
    • 3.5.2. Bargaining Power of Buyers
    • 3.5.3. Threat of New Entrants
    • 3.5.4. Threat of Substitutes
    • 3.5.5. Intensity of Rivalry

4. Saudi Arabia AR and VR Market Overview

  • 4.1. Market Size & Forecast by Value & Volume, 2018-2028
    • 4.1.1. By Value (USD Million)
    • 4.1.2. By Volume (Thousand Units)
  • 4.2. Market Share & Forecast
    • 4.2.1. By Product
      • 4.2.1.1. Head Mounted Display
      • 4.2.1.2. Handheld Applications
      • 4.2.1.3. Smart Glass
      • 4.2.1.4. Head-up Display
      • 4.2.1.5. AR Software
    • 4.2.2. By Organization Size
      • 4.2.2.1. Small Enterprises
      • 4.2.2.2. Medium-sized Enterprises
      • 4.2.2.3. Large Enterprises
    • 4.2.3. By Offering
      • 4.2.3.1. Hardware
      • 4.2.3.2. Software
      • 4.2.3.3. Services
    • 4.2.4. By Application
      • 4.2.4.1. Enterprise
      • 4.2.4.2. Consumer
    • 4.2.5. By End User
      • 4.2.5.1. Retail
      • 4.2.5.2. Healthcare
      • 4.2.5.3. Hospitality
      • 4.2.5.4. Aerospace & Defense
      • 4.2.5.5. Automotive
      • 4.2.5.6. Architecture
      • 4.2.5.7. Others

5. Competitive Landscape

  • 5.1. List of Key Players and Their Offerings
  • 5.2. Market Share Analysis, 2021
  • 5.3. Competitive Benchmarking, By Operating Parameters
  • 5.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)

6. Impact of Covid-19 on Saudi Arabia AR and VR Market

7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

  • 7.1. Cubix
  • 7.2. TechGropse Pvt. Ltd.
  • 7.3. Midwam
  • 7.4. Scope Technologies Co
  • 7.5. CodesOrbit PVT LTD
  • 7.6. Golden Logic Company
  • 7.7. EON Reality
  • 7.8. iSpectra
  • 7.9. Visual Experience
  • 7.10. Dolf Technologies
  • 7.11. Miraj Media
  • 7.12. Other Prominent Players

8. Key Strategic Recommendations

9. Research Methodology

  • 9.1. Qualitative Research
    • 9.1.1. Primary & Secondary Research
  • 9.2. Quantitative Research
  • 9.3. Market Breakdown & Data Triangulation
    • 9.3.1. Secondary Research
    • 9.3.2. Primary Research
  • 9.4. Breakdown of Primary Research Respondents, By Region
  • 9.5. Assumption & Limitation

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

Product Code: BWC22541

List of Figures

  • Figure 1 Saudi Arabia AR and VR Market Segmentation
  • Figure 2 Saudi Arabia AR and VR Market Value Chain Analysis
  • Figure 3 Company Market Share Analysis, 2021
  • Figure 4 Saudi Arabia AR and VR Market Size, By Value (USD Million), 2018-2028
  • Figure 5 Saudi Arabia AR and VR Market Share, By Product, By Value, 2018-2028
  • Figure 6 Saudi Arabia AR and VR Market Share, By Organization Size, By Value, 2018-2028
  • Figure 7 Saudi Arabia AR and VR Market Share, By Offering, By Value, 2018-2028
  • Figure 8 Saudi Arabia AR and VR Market Share, By Application, By Value, 2018-2028
  • Figure 9 Saudi Arabia AR and VR Market Share, By End User, By Value, 2018-2028

List of Table

  • Table 1 Saudi Arabia AR and VR Market Share, By Product, By Value, 2018-2028
  • Table 2 Saudi Arabia AR and VR Market Share, By Organization Size, By Value, 2018-2028
  • Table 3 Saudi Arabia AR and VR Market Share, By Offering, By Value, 2018-2028
  • Table 4 Saudi Arabia AR and VR Market Share, By Application, By Value, 2018-2028
  • Table 5 Saudi Arabia AR and VR Market Share, By End User, By Value, 2018-2028
  • Table 6 Cubix Company Overview
  • Table 7 Cubix Financial Overview
  • Table 8 TechGropse Pvt. Ltd. Company Overview
  • Table 9 TechGropse Pvt. Ltd. Financial Overview
  • Table 10 Midwam Company Overview
  • Table 11 Midwam Financial Overview
  • Table 12 Scope Technologies Co Company Overview
  • Table 13 Scope Technologies Co Financial Overview
  • Table 14 CodesOrbit PVT LTD Company Overview
  • Table 15 CodesOrbit PVT LTD Financial Overview
  • Table 16 Golden Logic Company Overview
  • Table 17 Golden Logic Financial Overview
  • Table 18 EON Reality Company Overview
  • Table 19 EON Reality Financial Overview
  • Table 20 iSpectra Company Overview
  • Table 21 iSpectra Financial Overview
  • Table 22 Visual Experience Company Overview
  • Table 23 Visual Experience Financial Overview
  • Table 24 Dolf Technologies Company Overview
  • Table 25 Dolf Technologies Financial Overview
  • Table 26 Miraj Media Company Overview
  • Table 27 Miraj Media Financial Overview
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Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

+1-860-674-8796

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