The implementation of IT and Artificial Intelligence have widened the scope of business activities in various domains. The United Arab Emirates that stands as an aggressive business platform has been planning to be the ultimate investment ground when it comes to the field of IT. A new move has been taken by the Dubai Robotics ground to uplift the e-commerce ground. If you have a passion for business and wants to dwell in the ground of robotics or e-commerce, then this guide is for you.
E-Commerce Market in the UAE
When it comes to the GCC countries, the UAE stands as the leader among them. By 2018, the e-commerce market held a substantial increase from 2014. Further, the market is expected to reach $20 billion by 2020. The E-commerce ground holds 10 percent of the total sales in the UAE. Recently, Amazon.com has acquired Souq.com, which is the largest domestic online merchant. According to Khaleej Times, the e-commerce market is expected to hit Dh 59 billion in 2019. The government has been taking multiple opportunities to grab more international investors. Adoption of e-commerce platforms have become a need for every business domain, and they can do it easily by availing the e-commerce license.
By this, we can see that there exist numerous opportunities for the budding entrepreneurs as well as established business owners to come ahead and set up their business in Dubai. Let’s move forward and have a look at the robotics market in the market.
Robotics Market in the UAE
Not less than any other booming markets, the robotics market is equally growing at a faster pace. Recently, the UAE has made a mark by joining hands with Chinese search engine Sogou to develop AI-driven news anchors. The robotics industry has made a huge impact on multiple categories. Some of the contributions are stated below:
- Civil Defence: 5.16%
- Construction: 3.23%
- Economy: 0.56%
- Education: 15.48%
- Environment: 5.81%
- Health: 34.84%
- Humanitarian Aid: 3.87%
- Logistics: 1.29%
- Social Services: 8.39%
- Tourism: 1.94%
- Transport: 1.94%
- Others: 17.42%
The Present Scenario
As per the latest news, the MENA region has opened its first robotic fulfillment centre in Dubai. The IQ Fulfillment, one of the largest robotics centre in the UAE, has blended the e-commerce and robotics platform, wherein latest robotics technologies are used to process 12,000 e-commerce orders daily, with an accuracy rate of 99.9%. When it comes to the output delivered, it is more than three times the human output. The system has been developed in such a way that multiple features like robotic picking, end-to-end tracking, intelligence storage, gift wrapping have been imbibed.
Thus, you can see the contribution made to the possible business industries. The robotics market in the UAE region was valued at $31.78 billion in 2018, and it is expected to reach an annual compound growth rate (CAGR) of 25% by 2019-2024. This, it becomes an excellent opportunity for business investors to come forward and step in deep dive in the robotics segment. Before you take any decision, you need to be aware of the benefits that you will be availing by starting a business in the UAE. Let’s take a step forward to understand it.
Benefits of Setting up a Business in the UAE
By starting a business in UAE, you can avail the following benefits:
- 100 % repatriation of capital invested and profits earned
- 100% personal tax exemption
- No currency restrictions
- Exposure to the international market
- Various location options like Mainland, Free Zone, and Offshore
- Multiple options for corporate entities
The benefits mentioned above drive international investors to come forward and set up a business in the UAE. Additionally, it is to be noted that the World Expo 2020 is on the way to grab the attention a count of 25 million expected visitors. The event is looked as a business platform that will result in fetching more mergers and acquisition scenario during a period of six months. There exist a huge possibility that the startups get in collaboration with the world’s big brands. So, starting a business at this point turns out to be a profitable option.
Now, it is essential to note that the initial phase of implementing a business idea turns out to be crucial, and any mistakes made at the start can turn out to be a problematic scenario. To ease the process, it is recommended to take the help of business consultants who can guide you accordingly at every step.
Commitbiz Consultants stands as one of the top business consultants in Dubai who takes a keen interest in providing high-end business incorporation solutions to esteemed clients. Our business experts are well-versed with the incorporation proceedings and can help you to set up your business process. If you hold any query, do speak to our experts. Contact us today-we’d be glad to assist.