UAE ICT Market Size

UAE ICT Market Analysis

The UAE ICT market is expected to register a CAGR of 8.5% during the forecast period. With a tech-savvy and globally connected population with a robust, high-tech, and high-coverage network, the UAE has consistently provided a favorable environment for ICT operators.

• The Middle East and North Africa (MENA) region's primary hub for international trade and business, the UAE, is a highly competitive market for the information and communication technology (ICT) sector. Initiatives by the UAE government aim to create a competitive knowledge economy and a free, effective, efficient, and internationally integrated business environment to lessen its reliance on oil revenue and expand the private sector. To promote the growth of the knowledge-based economy, the UAE government is implementing several actions.
• This is in addition to the frequently shown dedication of the government of Dubai and the UAE's goal of becoming a global power leader in IT. Projects like Smart Dubai, the Dubai Internet Future Foundation, and the Ministry for Artificial Intelligence, a Minister for the Future, and artificial intelligence (AI) are encouraging signs of the Emirate's prospective commitment.
• Dubai, one of the seven Emirates that make up the UAE, is governed by federal ICT law and is a component of a unified, national ICT infrastructure. The two companies, Etisalat and DU, serve the telecoms market in Dubai, just like they do for the rest of the UAE. The UAE's telecom providers have played and will continue to play a vital role in the country's adoption of big data, blockchain technology, and artificial intelligence (AI) applications.
• Cybersecurity is one of the significant challenges for any growing ICT market, and the UAE is no exception. The region witnesses one of the highest numbers of cyberattacks in the world and is vulnerable to such attacks. For instance, according to a survey by Sophos, a British security software and hardware business, there were 408 attacks on average per week in the UAE and 925 attacks per week on average against organizations worldwide during the fourth quarter of 2021.
• The global COVID-19 outbreak still poses severe obstacles to the world economy and its prospects for recovery. Although the Middle East is looking for ways to restart economic activity gradually, the impact there has been the same. The ICT sector is still feeling the repercussions of this economic shock and how it has affected how businesses, governments, and consumers are recovering.