Boston, MA -- (ReleaseWire) -- 02/13/2014 -- The UAE IT market is one the most lucrative globally due to high incomes and propensity to spend from consumers, enterprise and government. The continued strong performance of the UAE economy, as reflected by relatively high business confidence, rising real estate prices and growth of the tourism sector, will sustain demand for IT products and services. Furthermore, the government is boosted the IT market through adoption of emerging technologies such as big data analytics and smart infrastructure through the implementation of various smart city and e-governance projects. We also highlight the growing opportunities in the consumer segment in the form of mobility solutions that can take advantage of the high smartphone and tablet penetration in the country. There is, however, downside to this outlook from the regional economic and political situation, with the potential for escalation in cyber security threats a pertinent risk for the IT market.
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Headline Expenditure Projections
Computer Hardware Sales: AED7.59bn in 2012 to AED8.16bn in 2013, +7.5% in local currency terms. High incomes in the UAE support the retail hardware market, with strong demand for premium products.
Software Sales: AED2.58bn in 2012 to AED2.85bn in 2013, +10.3% in local currency terms. The UAE is one of the region's fastest growing ERP markets as modernisation initiatives continue in an effort to increase international competitiveness.
IT Services Sales: AED4.26bn in 2012 to AED4.74bn in 2013, +11.3% in local currency terms. Managed services will be a leading growth area, with growth of cloud computing and real-time analytics accelerating.
Key Trends & Developments
Cyber security is a major risk for vendors and end-users in the Middle East due to regional tensions and evidence of escalating incidents in recent years. This has attracted investment from major cyber security firms looking to tap demand from enterprises and government. McAfee opened a Cyber Defence Center in Dubai in 2013, the first centre in the world specialising in incident response and threat education, while mobile operator Emirates Integrated Telecommunications Company (du) announced the addition of three new security services to its cloud portfolio. McAfee's services are focused predominantly on data collection to prevent and respond to security threats, including identification of perpetrators and their motivations and emergency response incident identification and response measures, gathering information about potential threats, implementing emergency responses to incidences.
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