$ 120 billion.. Investments of international companies and funds in the "Metaverse"
- Attracting huge investments in the field of "virtual world" to Saudi Arabia - Companies and funds invested $120 billion globally in the “Metaverse” in five months - Saudi Arabia is at the forefront of countries in the region in terms of adopting advanced technologies, including virtual reality
Shrouq
By 2030, the total users of virtual reality (Metaverse) will reach about 5 billion people, according to predictions of studies. For this reason, companies and venture capital funds invested $ 120 billion in the world of “Metaverse” between January and May 2022, which is more than double what was invested in 2021 as a whole, which amounted to $57 billion.
As Saudi Arabia tends to attract huge global investments in the field of advanced technologies to Saudi Arabia, especially in the Saudi city of “NEOM”, a recent study heralded a new interconnected virtual reality seamlessly woven around “virtual reality opportunities in the Middle East, North Africa and Turkey,” with a focus on the UAE. Saudi Arabia, Turkey and Egypt.
Meta virus
Finally, a study issued by the Boston Consulting Group confirmed that the Kingdom shows a high readiness for “metavirus”, through adoption through the main enabling factors, in light of the readiness of small and medium-sized companies, and the availability of information and communication technology talent and cryptocurrencies.
Technological measures
Study stressed that, Saudi Arabia has a VR-ready infrastructure, with 98 % of individuals using the internet in the country.
Saudi Arabia, according to the study, enjoys high readiness across major technological measures, including 74 percent of smartphones, higher than the United States of America, which amounted to 0.77 percent, with sales expected to double in Saudi Arabia by 2025, while it ranks second among.
Information and communication technology skills
The indicators indicate an increase in the consumption of the work environment through the "metaverse". As 60 % of adults have knowledge of this, and 78 % of the population has the basics of information and communication technology skills, which are the highest in the region, with a social media penetration of 82 percent, while 90 percent of the population uses YouTube. They spend an average of 8.1 hours a day interacting with the Internet.
According to the study, Saudi Arabia currently ranks 70th in mobile applications. Its advanced ICT skills are among the highest in the region.
5 billion people
By 2030, the total number of users of virtual reality (Metaverse) will reach about 5 billion people, according to predictions of studies.
The technology and digitization company affiliated with the Saudi “NEOM”, has changed its brand to “Tunomos”, and is working to increase investment in the field of technological technologies, such as the areas of “metavirus” and “artificial intelligence”.
The fair investment of the “Tonomos” company in 2022 amounted to about one billion dollars; To promote artificial intelligence technology and implement "metaverse" technologies, in order to devote efforts to becoming "NEOM" the first community compatible with the virtual world and cognitive sciences worldwide.
