An insatiable appetite for mobile apps among the Middle East and UAE’s tech savvy millennials is fuelling the growth of UAE technology start-ups,
Middle east market is we are witnessing now is a lifestyle evolution, one in which errands are transforming into services, all with the help of mobile apps.And in the Middle East and UAE, where app developers are widely available, and entrepreneurship is encouraged, this technology is creating fertile ground for the country’s digital innovators. Many are already reaping the benefits, and many more will follow.”
|Founded in 2011 and licensed by Harvard Medical School and the Mayo Clinic, |
WedTeb is a leading location-based health and wellness app that targets health-conscious Arabic speakers
According to local app developer, Flagship Projects, the UAE has captured 60 percent of the Middle East’s smartphone mobile apps business. The cost of app development largely depends on each app’s individual technical and design requirements, however an article on OS X Daily about iPhone development costs reported that the development cost range for “small apps” ranges between US$ 3,000 to US$ 8,000, and that “more complex or recognised brand apps” can cost between US$ 50,000 to US$ 150,000. Nevertheless, other resources quote even higher prices.
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Recent report from Accenture indicated that digital entrepreneurs and tech start-ups have the potential to contribute significantly to the UAE’s economy. Figures from the consultancy show that digital transformation, or optimising the use of digital skills and technologies, can add nearly US$ 14 billion (AED 51.4 billion) to the country’s GDP.
Numerous UAE-based tech start-ups have already shown early signs of success, such as Careem, Fetchr!, and ReserveOut. Still, dozens of other innovative UAE-based start-up apps are making a strong presence in the market, from on-demand laundry service provider, Washmen, and grocery delivery app, InstaShop, to numerous online food delivery platforms, such as Talabat, Eat Easily, and Food on Click.
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The National Bank of Abu Dhabi is the first bank in the region to provide customers with Ripple’s technology, joining a growing list of world companies, such as Santander, Standard Chartered and UniCredit. According to the World Bank Annual Report 2016, the UAE was the fourth biggest remittance-sending country in the world, accounting for over $19bin (AED70bn) in transactions. Africa, the Middle East and Latin America will be the fastest- growing regions in the next four years. There are many opportunities for new apps, mobile payments and mobile money services. Asia, notably, will continue to play the number one role in the global apps market – accounting for more than 50 per cent of consumers’ spending. ”