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FINANCIAL NEWS
UAE computer product market to grow 8.47 percent by 2018
15 Oct 2014
(MENAFN) According to a research by Dubai Chamber of Commerce and Industry, the UAE computer product market is expected to grow at an annual growth rate of about 8.47 percent until 2018, Gulf News reported.
The UAE IT market, which predicted value was expected to reach around USD4.28 billion in 2013 of which 52 percent was made up by hardware sales, then followed by IT services with 30 percent and 18 percent in software sales.
The IT market is very import for The UAE’s economy, which currently ranks highly at 4th out 148 countries in terms of technology absorption at firm level, as well as having 85 percent of households in the country having a personal computer.
The UAE has also become an important trading hub for computers manufactured in Asia to be re-exported to the growing consumer markets of Africa and Asia due its strategic geographical locations to these countries.
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