About Future Business
Dubai is one of the top most destinations for business owners to setup business in the Middle East. The government policies and infrastructure facilities support the growth of small, medium and for enterprises businesses. unique business opportunities in Dubai are opened to international, regional and local investors. As a matter of fact, the foreign investors are attracted into Dubai because flourishing of existing businesses which are contributed significantly in UAE economy. So if you are planning to invest or set up business then Dubai will be perfect choice and you will not face any problems in terms of setting up your business. As Dubai is ranked first in Arab World for future readiness which opens lot of future business opportunities in Dubai. There’s a need to know the best business opportunities exist in the markets to invest. Below are some of the industries and businesses where lot of potential exist in order to start your dream business.
Technology Industry
Artificial intelligence:
Many business owners uses artificial intelligence (AI) technology to increase efficiency in their business reflecting in revenue growth and improved customer experience. The system will try to reduce the operational costs for the business owners. The Dubai government is working with innovators and companies to innovate new solutions using artificial intelligence technology and develop future sectors. Improving and Creation of future business in Dubai, The government of Dubai has already identified the sectors in which they plan to implement the AI technology. While the AI adoption will account for 45 percent of the world economy’s total gain by 2030, UAE will stand in the first position among the Arab countries for an expected annual growth of AI contribution to the economy at 33.5 percent. Even the other private sector businesses are trying to identify the potential of the AI system and trying to integrate the system in their organization. So there is increased opportunities for AI business in future for the development as well as consulting sectors
Virtual Reality and Augmented Reality:
The VR and AR technologies let people experience things virtually which are extremely close to real world. As per the International Data Corporation (IDC) the market for VR and AR in the Middle East and Africa is expected to increase to $6 billion. These technologies are used in various sectors such as Gaming, Health care, Education, Retail, Manufacturing, Real estate, Travel and Tourism etc. The potential of setting up an AR and VR technology development business is very high in Dubai as these technologies are welcomed by business owners to train their employees as well as to enhance their productivity and customer experience.
Cloud Computing:
The rising demand for big data storage and increasing adoption of cloud storage gateways are driving the demand for cloud storage solutions globally. Many organizations are expected to put digital transformation in their business strategies and cloud computing will be vital to that. The UAE cloud market expected to cross $290 million by 2020. Low cost, pay as you go with zero long term commitments allow even smaller business firms to access the cloud service and will eliminate the need for making major IT infrastructure investments.
Internet of Things (IoT):
iot is a network of internet connected objects able to collect and exchange data and truly one of the future business ideas. The Internet of Things has the potential to fundamentally change business models and value chains in companies. Over the long term practically every product can be connected in an economical way with the Internet. The IoT market in the Middle East is quickly growing. The International Data Corporation (IDC) forecasted that the regional market value of IoT will grow to reach $12.62 billion by 2021, as the operations will be digitalized by the countries across the Middle East. The trend has already started and it’s never late to start your business.
Service Industry
Delivery through Drones:
Increasing demand of fast delivery irrespective of business type, the idea to deploy self-flying drones that can make possible to deliver fast (up to certain weight limit) to the customers across the emirate, specially helpful for the restaurant, café, courier, E -commerce, document delivery, PRO services and many more even almost every business and individual can be benefited. The Dubai Government has taken initiative and closely working with the civil aviation department to make it operational in full-fledged. It’s now time to seek into the growing market for drones and drone technology in the Gulf counties which is expected to reach $1.5 billion by 2022.
Flying Taxi:
To avoid traffic and its hassles completely the Dubai is planning to introduce flying taxis that will carry passengers from one place to another. The flying taxi will be designed to carry a limited number of person with a limited luggage weight. The Road Transport Authority of Dubai (RTA) has announced that the world’s first flying taxi, maybe coming to the sky sooner. This initiative from Dubai government will certainly set milestones for the other cities across the world to follow and open new business opportunities to the investors.
Finance Industry
Crypto currency:
Crypto Currency is a digital currency that uses strong cryptography and designed as a medium of exchange to secure the financial transactions. The government boosts the development of business enterprises operating in the innovation industry and at has even started accepting the use of digital money as a payment method. Foreign investors who want to start business in the innovation field can open cryptocurrency companies in Dubai. The recent news of UAE and Saudi Arabia plan to launch a joint cryptocurrency comes as a positive development with regards to the further regulation of digital currency.
Agriculture Industry
Vertical farming:
Vertical Farming is gaining popularity in UAE. Vertical farming produces the crops in indoor farms using technology for a controlled environment. The technology is used to ensure the growing conditions with digital and mechanical rather than chemical or genetic. The hydroponics technology is an ideal concept for today’s agriculture sector which struggles to find new fertile lands for crop productions and will enable crops to be grown in greenhouses or in multilevel buildings or warehouses. This technology can make your indoor farming business more sustainable and profitable.
This blog post is written by Mr. Sajeev Business Advisor at flyingcolour, a leading business setup, VAT and Accounting Services company based in Dubai always remains on top of information and execution as and when Government comes up with new business activities and processes. For more details, please contact us at +971 4 4542366 or email us at info[at]flyingcolour[dot]com.
