Virtual Reality Boom Rising in MENA
Virtual reality globally started making headlines in 2014, when Facebook made a $2 billion acquisition of Oculus VR, Playstation announced Morpheus, Samsung partnered with Oculus to bring Gear BR to Android.
According to Deloitte, the Virtual Reality (VR) market in the Middle East and North Africa (MENA) region is expected to grow at a rapid rate. Factors driving the MENA VR technology growth are among the topics discussed in the summer 2016 issue of Deloitte’s quarterly publication, the Middle East Point of View (ME PoV).
Deloitte experts expect the MENA VR technology growth to be driven by several factors including: increasing focus by MENA companies to deliver innovative products and services tailored to demands of regional customers; increased pressure to reduce operational costs due to continued depression of oil prices; lower acquisition costs and greater accessibility to VR technologies and expertise; and increased number of computer gamers and interest in VR-enabled gaming and enterprise applications.
“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 (PC), 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.”
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