Technologic! UAE’s IT market expected to grow by 8.5 percent

Technologic! UAE’s IT market expected to grow by 8.5 percentThe UAE IT market, valued at Dh15.75 billion ($4.1 billion) in 2013, is forecast to grow at a compound annual growth rate of about 8.47 percent until 2018, a research report published by the Dubai Chamber of Commerce and Industry says.

In the UAE, which ranks fourth out 148 countries in technology absorption, about 85 per cent of households have a personal computer. The widespread use of the Internet in homes and offices in the UAE has led to increased demand for computer products.

According to the note based on research by Business Monitor International and Euromonitor International, the UAE IT market comprises hardware sales with a share of 52 percent, followed by IT services (30 percent) and software (18 percent). “While the UAE domestic computer market presents business opportunities, there is already high penetration of computer products in the UAE and in the GCC in general,” the report said.

“The UAE has one of the highest rates of computer ownership. Given this high adoption of computers and rising purchasing power in the UAE, growth in the UAE market will be mainly driven by technological advances especially new niche products such as tablet computers and sleek ultra-thin notebooks.

Technologic, UAE’s, IT, market, expected , grow , 8.5 percent