The UAE technology sector is preparing for record growth in 2025

Abu Dhabi, January 11, 2020: The technology industry in the UAE is preparing to achieve record growth in 2025, driven by the significant expansion of digital innovation and the adoption of the latest technologies. This growth consolidates its position as a global center for innovation and an international beacon for technology companies.

The UAE has strengthened its position on the international map as a stimulating environment for innovation, and an exceptional destination for the expansion of the growth of global technology companies and startups, thanks to its sustainable investments in developing digital infrastructure, and the development of stimulating legislation and policies that play a pioneering role in creating a climate conducive to innovation and growth.

International reports expected that the technology sector would witness sustainable growth in areas such as artificial intelligence, cloud computing, and modern technologies such as blockchain and the Internet of Things. A recent report issued by Statista, a German company specialized in analyzing market and consumer data, indicated expectations that revenues from the technology services market in the country will grow by about $3.8 billion during the current year.

The company explained in its report that the expected growth comes as confirmation of the UAE’s continued progress in developing the technological sector and increasing reliance on digital services, expecting this field to record a constant annual growth rate of 6.24% from 2025 to 2029, which will raise the market size to 4.79%. Billion dollars by the end of the forecast period.

A number of officials in emerging technology companies confirmed in statements to the Emirates News Agency, WAM, that the UAE constitutes a major attraction for these companies thanks to its advanced infrastructure and stimulating business environment, explaining that the UAE market represents an exceptional opportunity to achieve technological innovation in the region, especially with the spread of Artificial intelligence techniques.

Harsh Sajnani, founder and CEO of Kingpin, which specializes in providing services to the market through artificial intelligence technologies, said that the UAE and Abu Dhabi in particular are a beacon for startups as they have an infrastructure that is among the best in the world, which helps this type of company grow and flourish. It encourages it to go global with exceptional technological innovations.

He added that the UAE provides a competitive environment for companies operating in various sectors, including technology companies, thanks to the available opportunities created by the rapid digital transformation in the country and the growing technology industry, and encourages companies to adopt advanced technologies to enhance their operational efficiency and competitiveness.

For his part, Alex Zito, Director of Strategic Operations at CapCade, a company specialized in the financial technology sector, said that the company has begun procedures for moving to work from the Emirates with the aim of expanding the scope of its business from the country due to the availability of promising opportunities and great government support that helps advance the companies’ business.

He added that the company sees Abu Dhabi as an appropriate environment to transform its current user base in the region into permanent customers, as it provides an integrated environment that supports the goals of startups and investors alike.

He explained that the company seeks to simplify digital operations between partners, especially in the field of document exchange and stakeholder management in the finance sector, with a focus on providing safe and standards-compliant solutions, stressing that the UAE is the most appropriate destination to achieve these goals.

The UAE continues to move forward with confident steps towards a bright digital future, supported by ambitious visions and an attractive investment environment, as the country continues to strengthen its position as a major technology center in the Middle East and the world, making it a preferred destination for companies seeking to expand in the region.

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