FINANCIAL NEWS

Dubai Internet sector investments to grow by 17.86 pct

05 Jul 2016

(MENAFN) Investment in Internet of Things (IOT) hardware, software, service in the MENA region will grow by 17.86 percent to USD6.6bn, compared to USD5.6bn in 2015.

Accordingly, manufacturing and transportation are the vertical industries leading the way in terms of investment in the region, which will spend USD1.1bn in 2016.

Meanwhile, the next largest industry; utilities is predcited to see investments of almost USD800mn in the cited year.

Moreover, investments in the UAE is predcited to grow by 23.74 percent to USD436.8mn this year, compared to USD353mn last year.

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