2.03 PM Friday, 29 March 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:56 06:10 12:26 15:53 18:37 19:52
29 March 2024

UAE computer market to grow 8.47% a year to 2018

Published
By Wam

The UAE computer product market is forecast to grow at a Compound Annual Growth Rate (CAGR) of about 8.47 per cent until 2018, according to a research note published by Dubai Chamber of Commerce and Industry, based on research by Business Monitor International (BMI) and Euromonitor International.

According to the research note, the UAE IT market was estimated at around Dh15.75 billion in 2013, of which hardware sales made up the largest share of 52 per cent, followed by IT services with 30 per cent and software with 18 per cent.

The UAE computer product market is important for the UAE economy, with portable computers and laptops making up the dominant share of consumer spending by value in 2013. The widespread use of the Internet in homes and offices in the UAE has led to increased demand for computer products.

According to the Network Readiness Index 2014 of the World Economic Forum’s Information Technology Report 2014, the UAE ranks highly at fourth out 148 countries in firm level technology absorption and about 85 per cent of households have a personal computer. More recently tablet computers have become more popular among consumers as they provide computing power to the user with mobility.

Demand for computer products in developing countries also continues to grow with growth in population and increased awareness about the benefit of using computers for learning and communication. Due to this growing demand and its strategic geographical position at the crossroads between Asia and Africa, the UAE has become an important trading hub for computers manufactured in Asia to be re-exported to the growing consumer markets of Africa.