Executive Summary: The Global Immersive Market
The global immersive experience market is valued at $144 billion (2025), projected to reach $412 billion by 2030 at a 23.41% CAGR per Gartner. Saudi Arabia is positioning itself at the frontier of this sector — The Mukaab was designed as the world's first immersive gateway, integrating holographic projection technology across a 400-meter cube's interior surfaces. While superstructure construction was paused January 2026 per Reuters, the Kingdom's immersive technology investments continue through Qiddiya, NEOM, and the broader entertainment ecosystem tracked by Vision 2030 AI.
teamLab: 4.2 Million Visitors in 2025
teamLab — the world's preeminent immersive art collective — attracted 4.2 million visitors globally in 2025, cementing its position as the highest-grossing immersive experience brand. Expansion in 2025–2026 includes Abu Dhabi (April 2025), Kyoto (October 2025), and Hamburg (2026). A permanent Jeddah installation has been confirmed for Saudi Arabia. teamLab's revenue model — $30–50 per visitor with 90-minute average dwell times — demonstrates the commercial viability of large-scale immersive environments relevant to The Mukaab's design concept.
Meow Wolf: 10M+ Total Visitors
Meow Wolf — the US-based immersive art company — has surpassed 10 million total visitors across its 5 locations. Los Angeles opens in 2026, with NYC Pier 17 announced. Meow Wolf's model — permanent immersive environments with $35–45 ticket prices and 2–3 hour dwell times — provides a comparable template for The Mukaab's planned attraction zones. The company raised $158 million at a $1.5 billion valuation, demonstrating institutional investor appetite for immersive experience companies.
Spatial Computing: $85.56 Billion by 2030
The spatial computing market — encompassing AR, VR, mixed reality, and holographic systems — is valued at $20.43 billion (2025), projected to reach $85.56 billion by 2030 at 33.16% CAGR per Gartner and Forrester. Key developments include Apple Vision Pro driving enterprise adoption, Meta Quest achieving 20 million units, and Microsoft HoloLens 2 in defense and industrial applications. For The Mukaab, spatial computing enables the "immersive gateway" concept — overlaying digital content onto the cube's physical architecture.
LED and Micro-LED Display Technology
The global LED display market is valued at $19.67 billion, projected to reach $25.98 billion by 2030. Micro-LED technology — critical for The Mukaab's internal holographic surfaces — is growing at 75% CAGR. Samsung, LG, and Sony are competing for large-format installations. The MSG Sphere in Las Vegas (580,000 sqm LED surface, $2.3 billion) provides the closest technological precedent for The Mukaab's interior display systems, tracked by MIT Technology Review.
AREA15 Las Vegas: Immersive Venue Model
AREA15 in Las Vegas has attracted 15 million+ visitors since opening in 2020, hosting immersive experiences including Meow Wolf's Omega Mart, Illuminarium, and Wink World. Zone 2 expansion opened August 2025, adding 50% more experience space. AREA15's revenue per visitor ($75–125 including F&B) and repeat visitation rate (35%+) establish the commercial benchmarks for enclosed immersive entertainment districts.
Disney's $1 Billion AI Investment
Disney invested $1 billion in OpenAI in December 2025, signaling the entertainment industry's bet on AI-powered immersive experiences. Applications include AI-generated real-time environments, personalized narrative experiences, and autonomous character interactions. For The Mukaab, AI-powered immersive content could enable continuously evolving holographic environments — making each visit unique, per Stanford HAI analysis of generative AI in entertainment.
The Mukaab's Holographic Vision
The Mukaab was designed to project immersive holographic environments across the interior surfaces of a 400m × 400m × 400m cube — a total projected surface area exceeding 480,000 sqm. Conceptual scenarios include digital recreations of natural environments (underwater scenes, space, rainforests), cultural heritage projections, and interactive gaming environments. The technology stack combines large-format LED/micro-LED, spatial audio, environmental controls (temperature, humidity, scent), and AI-driven content generation.
Qiddiya Gaming District: 500,000 sqm
Qiddiya's master plan includes a 500,000 sqm gaming and immersive experience district with 4 dedicated esports venues. The district integrates physical theme park rides with digital overlays, creating hybrid physical-digital experiences. For spatial computing investors, Qiddiya represents a live testbed for immersive technologies at theme park scale, with backing from the Public Investment Fund.
Investment Risk Factors
Risks include: Mukaab timeline (superstructure paused), technology maturity (large-format holographic displays not yet production-proven at 400m scale), content development costs, consumer adoption curve for immersive experiences, and competition from established immersive venues globally. Mitigants: $144B→$412B market growth trajectory, proven models (teamLab, Meow Wolf, AREA15), and PIF capital commitment.
Conclusion
The immersive experience market's trajectory from $144B to $412B by 2030 validates The Mukaab's holographic gateway concept. teamLab (4.2M visitors), Meow Wolf (10M+), and AREA15 (15M+) prove commercial viability. Spatial computing ($85.56B by 2030) and micro-LED (75% CAGR) provide the enabling technology. Track via Vision 2030 AI.