The United Arab Emirates is trying to position itself as one of the fastest-growing economies with the adoption of futuristic technology such as Augmented Reality (AR) and Virtual Reality (VR). Augmented reality and VR in the UAE are reshaping the country’s economy. It is predicted that the AR/VR industries could boost the nation’s economy worth $4.1 billion by 2030. So let’s delve into how these technologies are the reason for the changes in the UAE’s economy.
An Introduction to Augmented Reality (AR)
AR is the integration of digital aspects along with real-world experience. It visually changes your natural environment with additional information. You can interact with the digital content while being present in your real environment through touch, voice commands or even gestures.
An Introduction to Virtual Reality (VR)
VR is a technology that creates a completely new simulated and captivating environment. It transports you into a virtual scenario, and you can even interact with the objects present in this virtual environment.
Revolutionizing Industries in the UAE
Let’s look at some of the booming industries that have been affected by AR and VR in the UAE:
Energy and Infrastructure
The UAE government is taking initiatives to use AR technology which allows engineers to visualise complicated projects like onsite, perform maintenance, improve planning, and ensure worker safety. Virtual reality companies in UAE are also being used to train personnel in a controlled environment.
Retail and Tourism
Various malls and E-commerce platforms in Dubai use augmented reality, which allow customers to try on their clothes or see pieces of furniture in their homes. Virtual reality companies can also be used to visit new places virtually, which can play a major part in enhancing the tourism sector.
Education and Training
AR textbooks and classrooms bring lessons to life with 3D models, making them more accessible and transparent. VR replication can create realistic training environments for medical professionals and a safe space for training.
Manufacturing and Design
AR can improve assembly lines by increasing efficiency and reducing errors. VR allows designers to test and refine products virtually before starting physical production. The cost of production gets reduced as there is no faulty manufacturing.
Healthcare
AR and VR laboratories in the UAE have been created for medical use. These help medical students practice their skills in the operating theatre using AR/VR technologies. The UAE Ministry of Health and Prevention (MoHP) has initiated VR rehabilitation for physiotherapy. VR has also been proven useful for treating Parkinson’s, cerebral palsy and other diseases. Therefore the usage of AR/VR in the UAE healthcare sector is looking promising in the upcoming years.
Product and Service Enhancement
The Dubai Electricity and Water Authority (DEWA) uses smart helmets and goggles for its engineers and technicians to enhance the communication system. They also use AR/VR technology to improve manufacturing designs, which results in increased productivity.
Building a Thriving Ecosystem
The UAE is looking forward to implementing AR/VR technology in all possible aspects to reach new benchmarks. Let’s look at the different aspects:
The Dubai Metaverse Strategy aims to position itself as one of the world’s top 10 metaverse economies. The strategy also looks forward to attracting 1000 companies in blockchain and metaverse creating 40,000 virtual jobs by 2030.
Collaboration between the UAE government, educational organisations and private companies will accelerate AR/VR reality adoption. The ecosystem will be enhanced through sharing knowledge.
Infrastructure Development
The UAE invested in high-speed internet and a 5g internet connection so that AR/VR applications can be used without any interruptions. The country is providing all the required infrastructure for company formation in the UAE.
The Road Ahead
The UAE is on the way to positioning itself as the global leader in the augmented reality/virtual reality revolution. With improved information technology, robust infrastructure, and strategic initiatives the country ensures its growth in the business domain. For a better understanding of the industry’s scope in the UAE, do reach out to Business Setup Worldwide. Our consultants are well-versed in the legalities of company formation procedure.
