Virtual reality continues to booms in the MENA

The global VR market is expected to reach $33.90 billion by 2022
Augmented reality, MENA, Telecom transformation, Virtual reality, VR, VR boom in MENA

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The Virtual Reality (VR) market in the Middle East and North Africa (MENA) region is expected to grow at a rapid rate, according to the summer 2016 issue of Deloitte’s quarterly publication, the Middle East Point of View (ME PoV).(reported by the Saudi Gazette)

Experts forecast the 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.

Zaid Selman, assistant director, transaction services, Deloitte Corporate Finance said: “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.”

The report delved into several other aspects of technology scenario in the region. In the 'talent management' section, In talent management, Maya Rafii Zaatari, H.R. Director at Deloitte in the Middle East, discussed how employers should devise “actionable solutions to create tangible business outcomes and make the organisation ‘irresistible.’

Andrew Jeffery, capital projects MD at Deloitte Corporate Finance ,in his report “East meets Middle East” discussed the business opportunities generated by the “increasing regional fusion [of the Middle East] with Asia and how Middle Eastern businesses should move forward to explore the benefits for their investment, development or infrastructure projects.”

Emmanuel Durou, consulting partner and technology, media and telecommunications leader, and Hasan Iftikhar, consulting senior manager at Deloitte in the Middle East discussed how business disruption is also underway in the telecom sector. “These drastic changes in the business models of telcos have forced them to find new ways to interact with the digital ecosystem … they need to rethink their commercial models and terms of engagement with the other players in the value chain".

 

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