Market Trends of Middle East & Africa Video Conferencing Hardware Industry
Commercial Spaces are Expected to Hold Significant Market Share
The commercial spaces are expected to hold a significant share in the Middle East and Africa video conferencing hardware market owing to the ongoing development in the commercial sector of countries such as UAE, Bahrain, Saudi Arabia, and other GCC countries, as well as South Africa. Video conferencing, or virtual meetings, is a widely used communication method across the sector. It helps businesses to save money on travel and increase productivity. Commercial spaces use it to communicate with customers, vendors, and employees from anywhere in the world.
One main advantage of video conferencing for team communication is that it reduces team travel. This means that teams can spend less time on the road and more time on work. Additionally, better communication and decision-making lead to increased productivity and accountability. With video conferencing, businesses can communicate with people from all over the world in real time.
Unlike email and phone calls, which are asynchronous, businesses can see people's faces, body language, and environment with video conferencing, which helps them understand customer context. This has made video conferencing an essential tool for business professionals to build a robust network of professionals. It can be used for various purposes, such as job interviews, building relationships with partners, connecting with clients, and simply catching up with friends and family.
Further, the ongoing development to expand the 5G network across the region creates new market opportunities for growth. In addition, integrating the latest video conferencing application into the hardware expands the equipment's capabilities and attracts new customers. For example, in June 2023, Poly introduced the innovative Poly Studio X52 Dubai. This cutting-edge camera operates the Google Meet application directly in appliance mode, simplifying meeting room setup.
The United Arab Emirates is Expected to Hold Significant Market Share
The UAE has a thriving start-up and business culture, with over 40% of its start-ups being tech-based. The UAE’s remote work system has become an important safety valve, safeguarding the security of society members and allowing them to carry out their day-to-day activities with ease and comfort.
The UAE government is stepping up its efforts to speed up the adoption of digital solutions. Through its initiatives and projects, it aims to create and define the digital future, which will help the UAE become a global leader in various fields. In February 2024, the United Arab Emirates funded USD 200 million for developing advanced technology in developing nations. The Abu Dhabi government finances the capital, which will be overseen by the Gulf state's Advanced Technology Research Council (ATRC).
Further, the country is continuously focusing on AI and cloud development. High-tech international companies actively invest in the country, creating new market opportunities in the coming years. For instance, in April 2024, Microsoft Corporation invested USD 1.5 billion in G42, the UAE-based artificial intelligence (AI) technology company, to bring the latest Microsoft AI technologies and skilling initiatives to the UAE.
Further, the country's ongoing development of new commercial spaces supports market growth. In addition, the increased network bandwidth with the 5G network supports the country's growth. For example, the UAE led the Middle East and the world in internet exchange traffic and 5G network speeds, as per the UAE Digital Economy Council in 2023. The UAE was the world’s fastest 5G market in the second quarter of 2023, as reported by Ookla’s Speedtest Intelligence.
