Gaming and corporate use to drive VR growth
Deloitte expects rapid growth in market for virtual reality solutions in MENA
Deloitte expects to see rapid growth in the market for virtual reality solutions in the Middle East and North Africa in the next few years.
The company said that it expects to see uptake both in the current core market of gaming systems, and also increasing interest from corporate users.
There is currently a global race to find the next major opportunities from VR solutions, Deloitte said, with collaboration between hardware device manufacturers and software developers are collaborating with architects, designers, healthcare practitioners and other sector experts to develop the next generation of interactive products and services. In the gaming industry collaboration with automobile manufacturers and sporting associations is leading to the creation of more realistic and immersive games using BR technology.
"Early adopters of concept gaming products will continue to be the mainstay of the industry but increasingly more products will begin to be purchased by casual gamers. VR-enabled games are delivered for personal computers, console and mobile platforms, with currently the largest segment being PC solutions," explains Zaid Selman, assistant director, Transaction Services, Deloitte Corporate Finance Limited. "VR applications delivered through smartphone and tablet devices will also continue to grow, however most are still at an early stage of development and will mostly appeal to casual gamers or technology enthusiasts."
Deloitte has identified four main factors that it believes will drive growth in VR, including corporate demand for new, innovative products and services tailored to the demands of customers; use of VR as an operational cost saving tool in areas such as remote inspection; greater access to VR technologies and lower cost of VR devices; and demand from an increasingly young population base who expect technology adoption.
Most growth in the MENA region will come from the GCC countries. Countries such as the United Arab Emirates (UAE), Bahrain and Saudi Arabia have seen consumers adopt head-mounted displays (HMD), an integral component of many VR applications, for both gaming and corporate use. With a high disposable income, a young and rapidly growing population and increased demand for leisure activities, the gaming industry has experienced rapid growth, with VR following suit.
While corporate uptake of VR will happen, Deloitte also stated that the technology needs to be refined to become more practical for certain types of applications, and to be more usable. The market also needs to agree on an open standards framework that will be used by software developers to create the next generation of VR applications. The emergence of a predominant development standard and device will likely spur the next generation of growth in the VR market.