ALKESH SHARMA / EMIRATES BUSINESS
Emiratesâ€™ Information and Technology industry is at an all-time high, courtesy the UAE governmentâ€™s progressive policies and presence of world-class IT growth catalysts in the country. It expects a Compound Annual Growth Rate (CAGR) of nearly 3.6 percent over the period of2015-2019, suggests a Business Monitor International (BMI) Research report.
According to the survey, the IT market, which stayed at marginally below the level of AED10 billion mark in 2015, is pegged to touch the whopping figure of AED19.2 billion in 2019.
The sectorâ€™s exceptional robustness will be driven by a growing interest of various IT giants in setting up their operations in the region, increasing modernisations of business operations and introduction of sophisticated enterprise keys. Internet of Things (IoT) solutions will lead the way for the industry, which will see an inclusive growth in software and IT services sales, indicates the report.
To capture the significant market share and make most out of the ongoing IT boom, UAE companies are equipping them with the best of the technology to serve their clients up to the optimum level in these regions. Special emphasis is being put on being flexible enough to meet the ever-changing demands of
Dubai-based Autodesk, a leader in 3D design, engineering and entertainment software, launched its new service Autodesk SeeControl, this month. It is a comprehensive new platform powering the IoT solutions that allow customers to capture, analyse and use data from remote products.
â€œExpectations for online services have increased manifold and we have to constantly develop our services. At the same time, the future of making products in the machinery and specialty vehicles industries is changing quickly,â€ said Brian Roepke, Senior Director of Product Lifecycle Management and IoT, Autodesk. â€œThe addition of SeeControl to the Autodesk line of IoT services will help businesses gain competitive advantage by optimising existing products and capturing the necessary intelligence to offer their customers new services.â€
Autodesk has also created a US$100 million investment fund to do research work in the field of cloud computing in this region.
Sean Riley, global manufacturing and supply chain solutions director at Dubai-based Software AG, stated, â€œIT sector holds immense potential and 2016 will be a year of opportunities as well as uncertainties. The only certainty is that manufacturers will seek to become more flexible and more agile in their business practices, value chains and customer offerings. This is because their customers and the markets they serve are changing, and the way business is conducted around the world is transforming at a never-before-seen pace.â€
Interestingly, UAE start-ups and Small and Medium Enterprises (SMEs) are turning out to be one the biggest consumers of IT services in the region. Statistics released by Dubai SME â€” an agency of Dubai Governmentâ€™s Department of Economic Development â€“ underlined that SMEs account for over 95 percent of the enterprise population in Dubai.
â€œStart-ups and SMEs know the importance of a digital footprint and they always hold the potential to build a strong economy. We know communicating and connecting with customers digitally is integral to their growth, therefore we are providing IT solutions that are specifically customised to startups and SMEs,â€ said MazenAjeeb, CEO at Go Smart, Dubai-based software and mobile applications developer that is targeting start-ups and SMEs in a big way.
According to BMI Research report, the hardware market will be challenging in 2016 as a result of market maturity and economic uncertainty, but there is a brighter hope for software and services as enterprise and government modernisation initiatives continue.
The areas of strongest growth will be cloud services and IoT solutions adoptions. Besides, cyber security spending is expected to grow in the bracket of 30 to 35 percent by 2018.