RIYADH, SAUDI ARABIA: Strategic Gears’ latest thought leadership publication explores the development of the global metaverse industry and its integration into real-world business, including uptake/implementation in Saudi Arabia and the rise of the Saudi metaverse market. increase.

The report also explores global benchmarks for the Metaverse industry in the United States, China, UAE, Saudi Arabia, Spain, Barbados, South Korea, and Japan in terms of industry size, national strategies for the Metaverse, and the industries and regions where the Metaverse is deployed. doing. is used/adopted.

Strategic Gears experts also interviewed two Saudi metaverse players, Dolf Technologies and FalconViz, on where the opportunities for growth lie in the global and Saudi context, and the challenges to overcome them. The we.

This report maximizes metaverse adoption from an overall metaverse development perspective, turns challenges into enablers, and builds on Strategic Gears expert recommendations for Saudi Arabia’s metaverse growth, as well as lessons learned from country benchmarks and interviews. It concludes with recommendations. Here are the main conclusions and recommendations:

• Given the growing number of initiatives and creative ideas by both the government and Saudi companies, we will continue to monitor and evaluate the amount and revenue spent on the Metaverse project, as well as spending in this area. It is important to increase public sector participation and private sector participation. About investment.
• Factors that may support the development of the Metaverse in Saudi Arabia include the integration of intermediaries such as banks and brokers into various Metaverse platforms, building and implementing appropriate governance structures, and branding the socio-economic benefits of the Metaverse to Saudi Arabia. and awareness raising, and more events. Opportunities for partnerships with national and international stakeholders to bring best practices, knowledge transfer and expertise.
• Before you start plugging in data sources, you need an early adoption and a well-defined deployment strategy that starts by identifying use cases that provide real value and ultimately integrates with your business.
• The solution will need to be customized for the Saudi market, with education, healthcare, industry, entertainment and tourism being the sectors that will benefit most from the introduction of the Metaverse.
• There is misinformation and hype around the metaverse that can distract attention from its real, practical application. New hardware and software infrastructure will also be required to support the metaverse.
• The Metaverse will grow into a diverse and thriving digital economy with room for a wide range of businesses to operate and compete fairly. The goal is to create an open metaverse featuring collaboration that lowers barriers to access.

The Metaverse Development in Saudi Arabia report is available for download at https://strategicgears.com/index.php/providers/reports/13-reports/80-metaverse-development-in-saudi-arabia.

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About Strategic Gear

Headquartered in Riyadh, Strategic Gears is now one of the leading management consultancies in the MENA region. The company provides consulting services to a wide range of clients in both the public and private sectors in the areas of strategy, marketing, operational and organizational excellence, and digital transformation. The company works with various government agencies and Vision Realization Programs and is deeply involved in Saudi Arabia’s transformational era driven by the Vision 2030 initiative.