UAE ICT Market is Expected to Register a CAGR of 12.27% Through 2029

High Internet Penetration & Digital Adoption, Government initiatives & vision and economic diversification & growth are likely to propel the market during the forecast period.

According to TechSci Research report, “UAE ICT Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, UAE ICT Market was valued at USD 41.36 Billion in 2023 and is expected to grow at a CAGR of 12.27% during the forecast period.

The rollout and adoption of 5G technology is a key trend driving the UAE ICT market. The deployment of 5G networks is expected to revolutionize various industries by providing ultra-fast internet speeds, low latency, and enhanced connectivity. This advancement is poised to support the development of new applications and services, further fueling digital transformation. The UAE has been at the forefront of 5G adoption, with telecommunications companies such as Etisalat and du leading the deployment of 5G infrastructure across the country. The UAE’s commitment to 5G is part of its broader strategy to enhance its technological capabilities and support the growth of smart cities, IoT applications, and advanced industrial solutions.

The introduction of 5G technology is set to have a profound impact on several sectors. For example, in smart cities, 5G will enable the deployment of IoT sensors and devices that can monitor and manage urban infrastructure more effectively. In the healthcare sector, 5G will facilitate remote medical procedures and telemedicine by providing high-speed, reliable connectivity. Additionally, the entertainment and media industry will benefit from 5G through enhanced streaming experiences and the development of immersive technologies such as augmented reality (AR) and virtual reality (VR). The UAE’s focus on 5G aligns with its goals to enhance digital infrastructure and position itself as a leader in technological innovation. The rapid deployment of 5G networks is expected to drive the adoption of next-generation technologies and applications, further transforming the ICT landscape.

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Based on Size of Enterprise, The Large Enterprises held the largest market share in 2023.  Large enterprises dominated the UAE ICT market due to several key factors that align with their extensive resources and strategic goals. Large enterprises have the financial capacity to invest in cutting-edge technology and infrastructure. They can afford substantial capital expenditures required for advanced ICT solutions, including high-performance servers, enterprise software, and sophisticated cybersecurity measures. This ability to invest heavily in technology ensures they stay competitive and can leverage the latest innovations to drive business efficiency and growth. Large enterprises benefit from economies of scale, allowing them to deploy and manage ICT solutions more effectively than smaller organizations. Their scale enables them to negotiate better terms with technology vendors and service providers, thus optimizing their cost-efficiency. They also have the resources to establish dedicated IT departments or teams, ensuring robust management and integration of complex systems. Furthermore, the UAE's strategic focus on becoming a global technology hub encourages large enterprises to invest in ICT as part of their digital transformation strategies. Government initiatives, such as smart city projects and digital infrastructure development, align with the interests of large enterprises looking to enhance their operations and capitalize on emerging opportunities in sectors like financial services, healthcare, and logistics. Large enterprises are often early adopters of new technologies, such as artificial intelligence, big data analytics, and cloud computing. Their ability to experiment with and implement these technologies provides a competitive edge and sets industry standards, further driving their dominance in the ICT market.

Based on region, Sharjah is emerging as the fastest-growing region in the UAE ICT market due to a combination of strategic initiatives, investment in infrastructure, and a favorable business environment. The Sharjah government has actively fostered a tech-friendly ecosystem by establishing several key initiatives and zones dedicated to technology and innovation. One significant factor is the creation of the Sharjah Research, Technology, and Innovation Park (SRTIP), which serves as a hub for technology companies and startups. SRTIP provides state-of-the-art facilities, resources, and incentives to attract both local and international tech firms. This park aims to drive innovation and support research and development in various ICT sectors, including artificial intelligence, IoT, and cybersecurity. Additionally, Sharjah's strategic location between Dubai and Abu Dhabi makes it an attractive option for businesses seeking to leverage its connectivity while benefiting from lower operational costs compared to its neighboring emirates. The Sharjah Economic Development Department (SEDD) has also implemented policies to simplify business operations, offering competitive advantages such as lower fees and streamlined regulations. Investment in infrastructure is another critical driver of Sharjah’s ICT growth. The region has seen significant upgrades in its digital infrastructure, including the expansion of high-speed internet and the development of smart city projects. These advancements create a conducive environment for tech companies and digital services, enhancing Sharjah's appeal as a growing ICT hub. Furthermore, Sharjah’s focus on education and skill development contributes to its rapid growth. The emirate's universities and research institutions produce a skilled workforce adept in ICT fields, supporting the region’s technology sector.

Major companies operating in the UAE ICT Market are: 

• Microsoft Corporation
• Apple Inc.
• Amazon Web Services, Inc.
• Alphabet Inc.
• IBM Corporation
• Intel Corporation
• Cisco Systems, Inc.
• Oracle Corporation
• SAP SE
• Hewlett Packard Enterprise Company

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“The UAE ICT market presents substantial opportunities driven by rapid digital transformation and government-led initiatives. The nation's commitment to becoming a global tech hub, coupled with high internet penetration and significant investments in infrastructure, creates a fertile environment for growth. Key opportunities include advancements in artificial intelligence, cloud computing, and cybersecurity solutions, as well as the expansion of smart city projects and fintech innovations. Additionally, the UAE's strategic position as a gateway to the Middle East and North Africa (MENA) region offers a lucrative platform for international tech firms seeking regional expansion”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“UAE ICT Market, By Type (Hardware, Software, IT Services, Telecommunication Services), By Size of Enterprise (Small & Medium Enterprises, Large Enterprises), By Industry (BFSI, IT & Telecom, Government, Retail & E-commerce, Manufacturing, Energy & Utilities, Others), By Region, Competition, Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of UAE ICT Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the UAE ICT Market.

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