Today's Edition
KHALED AL KHAWALDEH (ABU DHABI)
A report by market analysis firm Mordor Intelligence projects the UAE’s Information and Communication Technology (ICT) market to reach $77.28 billion by 2029, growing from $47.36 billion in 2024 at an annualised rate of 10.29 percent.
The report attributes the enormous growth to the country’s continued focus on digital technology, cyber security, and AI as well as an increasingly tech-savvy population.
It said these conditions coupled with strong and expanding infrastructure created favourable conditions for ICT operators.
“The UAE, serving as the MENA region’s key centre for global trade and commerce, stands out as a highly competitive landscape within the information and communication technology (ICT) sector,” the report said.
"The UAE government’s strategic initiatives are designed to pivot toward a knowledge-based economy, fostering a business environment that is not just efficient and effective but also globally interconnected."
"The government’s commitment to digital transformation and initiatives like the UAE Vision 2021 and the National Strategy for Artificial Intelligence 2031 are fostering an environment conducive to ICT innovation and investment."
The report predicted that the AI startups and firms working on smart cities would play an increasingly large role in the ICT ecosystem of the country still largely dominated by big corporations including Oracle, SAP, Microsoft, Salesforce, and IBM Corp.
