Dubai Robotic Factory boosts the E-Commerce GroundAuthor businessconsultantsdubai
The technological advancements in the field of Artificial Intelligence have ushered in a new way of doing things, including the ease of doing business. This advancement has also caused IT to be a prominent part of everyday life and opened many new avenues of business activities in different areas.
The visionary government of the UAE has in its tradition of staying ahead of the curve, has already laid out an extensive investment plan in the IT sector. The Dubai Robotics ground has taken several steps to boost the e-commerce division. Thus, making Dubai the go-to place for entrepreneurs passionate about the IT, robotics and e-commerce division.
E-commerce Market in the UAE:
Among the Gulf Cooperation Council —the GCC states, the UAE as always is leading the e-commerce division by a wide margin. In 2018 had tripled in its size, this was quite a substantial increase compared to its predicted growth rate. Moreover, the sector is expected to surpass twenty billion dollars by 2020! The e-commerce market brings in ten percent of the total GDP of the UAE. In light of these positive indicators, the government has devised a comprehensive plan that carves out multiple investment opportunities to entice foreign investors.
The prevalence of the IT sector has derived a need for e-commerce platforms for every business setup to extend their reach. And the UAE provides simple steps through which entrepreneurs can obtain an e-commerce license quickly. The scope of business opportunities is widening thanks to the advancement in the IT sector. Thus, encouraging the business owners of the world to come forward and set up a business in Dubai to make a fortune.
Robotics Market in The UAE:
Like other sectors in the UAE, the robotics division is enjoying immense growth and a general upward trend. To sustain this rapid and steady progression, the UAE has made several strategic manoeuvres. Recently, the UAE embarked on a joint venture with the Chinese search engine Sogou to develop AI-driven newscasters and anchors.
The robotics industry has left a mark on numerous categories. The primary contributions are listed 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%
Thus, the UAE became the digital hub for innovation.and is providing an even playing field to all the interested parties big or small.
The Current Situation:
The Middle East North Africa region—MENA— has opened the doors of its first robotic centre in Dubai. The IQ Fulfilment, one of the largest undertakings of its kind. This robotics centre is a perfect amalgamation of robotics and e-commerce platform. It employs the latest robotic technologies to process twelve thousand online orders per day.
The overall accuracy rate of this fulfilment centre is 99.9%, which is more than three times the human accuracy rate. Apart from delivering goods, the system has features such as end-to-end tracking, robotic picking, intelligence storage and even gift wrapping. Hence, the robotic sector has influenced the business community by changing the way things used to be done. The robotics sector in the UAE alone has been valued at $31 billion US Dollars in the previous year alone. It is estimated to reach an annual Compound Growth Rate (CAGR) of 25% by 2019-2024. The robotics sector is providing endless business opportunities to entrepreneurs and business owners to invest in it and reap the many benefits this industry has to offer.
Benefits of Setting up a Business in the UAE:
Below we are enumerating reasons that will cement your decision of starting a business in the UAE:
- Hundred percent foreign ownership.
- Minimal taxation on personal income.
- Custom Duty on import-export goods is non-existent.
- Easy access to global markets.
- Multiple locations are available like Mainland, Free Zone or Offshore.
- Hundred per cent repatriation of invested capital and profits earned.
- No constraint on currencies.
- Various options are available for corporate entities.
The benefits, as mentioned earlier, attract international investors to step forward and set up a business in Dubai. Furthermore, the World Expo 2020 is mere months away, which is said to draw over twenty-five million visitors to the UAE. The Expo is an excellent opportunity for the UAE as a whole as it is deemed as the business platform that will be the cause of fetching mergers, joint ventures and acquisitions prospects for it. The possibility of collaborating with a foreign corporate giant for tiny business setups is very likely, therefore starting a business in Dubai at this point in time is a profitable decision.
The business setup process should not be taken lightly, as any mistakes made in the initial phase will predict the trajectory your business will follow. Hence, any mistake can, at a later stage turn out to be disastrous. To avoid all of the unnecessary heartaches it is advised to hire a business setup consultants. These setup experts can guide you so that your business idea can flourish rapidly.
Business Consultant Dubai is a top-notch business setup consultancy. We provide high-end business incorporation solutions to our customers. Our business setup experts are talented, skilled and well-versed in the incorporation process. That makes the business setup proceedings go reasonably smoothly.
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