For 2019, the technology industry witnessed a 30% Year-on-Year growth globally as per the Swyft Industry Report.
Especially the new IT-related business formation received great traction in terms of demand from other industrial sectors for technology automation requirements and IT service assistance.
IT Services Business Opportunities in the UAE
There is an enormous opportunity for IT Services and Technology companies in the UAE.
The ever-growing demand from various industry sectors makes IT Services business a lucrative investment in the UAE.
To stay competitive every organization is embracing technology and IT Solutions. There a lot of technology adoption in traditional sectors.
Niche Industry Segments driving demand for IT Services
Also, there is a niche of eCommerce, health startups, connected devices segment that is becoming mainstream currently.
Hence, the business opportunities in technology, IT Solutions, and services are growing at a significant pace even amidst the global pandemic and economic downtimes.
Technology Automation and Business Productivity
Technology automation has become an integral part of our life. For organizations adoption to technology and the latest automation tools are essential to achieve business productivity and growth.
With the latest technology such as machine learning, artificial intelligence becoming common, organizations are leveraging their power to enhance business growth.
They are already in use in many software applications and Customer Relations Management system.
How Technology Adoption helps Brands to Grow?
Technology helps your brand in many ways to grow business such as:
- Extend visibility and build a customer base
- Improve customer interactions
- Innovative ways to sell and increase customer satisfaction
- Take more informed decisions and build agility
- Increase productivity and collaboration
- Automate routine Tasks
Software-as-a-Service (SaaS) technology companies in the sector like telehealth, fitness, and Ed-tech are seeing a rise in demand.
Even amid the Pandemic, the technology industries are at much demand to support various other core industry sectors.
Niche Industry Sectors Leveraging the Latest Technology Solutions
1. Health Start-ups
Healthcare technology firms offering home diagnostics and telemedicine services are experiencing a high demand for their digital services during the current pandemic situation.
Healthcare start-ups are aiming at providing a more proactive and preventive care approach by leveraging data analysis and big data.
Clinically meaningful insights will be available for doctors to further study and make decisions before the occurrence of an event.
Fitness Trackers and Wearables
On a more consumer front, the fitness trackers and wearables are what most of the health start-ups have launched. It helps customers to track their exercise and fitness goals.
It helps to take a proactive approach to personal health by using the wearables and keeping track of the fitness levels.
Telehealth Services and Medical Devices
The next key area is telehealth services and online consultation. App or web-based platforms are built for hospitals, clinics, healthcare providers to reach out to their digital customers easily.
Medical devices that could be used at home such as electronic thermometer, pressure monitor, etc. are other areas for health-start up.
In hospitals, the health start-up has various opportunities in supplying digital clinical devices, smart hospital rooms with digitized medical equipment, and more.
2. Technology – Internet of Things, Connected Cars, Drones
Drone technology that was previously used to spray pesticides in agricultural fields was effectively used to spray disinfectants in public places and for preventing vehicles from entering restricted areas.
Delivering medical samples and quarantine materials due to lockdown was a major utility for Drones.
Smart City Infrastructure – Internet of Things, Connected Cars
Smart City infrastructure such as the internet of things, connected cars, sustainable energy management, blockchain, etc., is here to transform the way we live, work, and travel.
The global market for connected cars is expected to grow to USD 219 billion by 2025. The connected car market is closely linked to progress in smart cities and advanced traffic management systems.
The whole new technology of the Internet of Things is set to revolutionize many industries, It has already seen strong acceptance in industries such as manufacturing, healthcare, transportation, and utilities.
The Ecommerce industry is seeing Significant growth especially during the current situation of the global pandemic. As stepping out is not advisable for shopping, the online orders have seen a surge.
Many individuals who haven’t tried their hands on have entered the new online shopping world. Online shopping for essential goods such as packaged food, household items, daily foods, etc., saw a spike in demand.
Online market places, supply chain, and logistics are innovating to meet the growing demand efficiently and make the shopping experience more relaxed.
4. Last Mile and Service Delivery Companies
To meet the growing demand for eCommerce and online shopping, the distribution, and logistics industry is also witnessing radical transformations.
To complete the goods delivery cycle from the manufacture to the customer, the last mile and service delivery companies play a great role.
In the future, this sector will see technology adoption to equip the logistics and distribution to tackle the growing number of daily order fulfillment.
5. Remote Online Work Platforms
With the work from home concept gaining more acceptance and became a way of life, the demand for remote Online Work Platforms is experiencing a spike.
Technology companies are providing all required Infrastructure for employees to connect. Video conferencing, file sharing, project tracking, and other real-time communication tools are introduced to the market.
Technology is helping Organization to Stay Competitive
Hence, overall the technology adoption has revolutionized many industries and it is a continuous process of embracing the latest technology to stay competitive.
Adopting the latest Technology trend by organizations is to deliver an enhanced customer experience and customer satisfaction.
Organizations leverage the power of technology to simplify processes, increase business productivity, create economies of scale, cater to more customer demands, and effectively serve them.
How IT Solutions and Services Business Will be in Constant Demand?
IT Solutions and Services will be the most sought after business sector that organizations across diverse industrial sectors will rely on for their digital adoption.
IT Services business will be the Go-To sector for all sorts of IT-related consultations and new technology implementations.
Thus, there is no better time to venture into IT Solutions and Service businesses to gain competitive advantage.
A lot of the industries are currently adopting digital transformation and shifting focus towards the latest technologies to stay competitive.
To know more about the business opportunities in UAE and set up a Company in the UAE the most hassle-free way, talk to our expert Business Consultants right away!
Contact: Aurion Business Consultants