The UAE has been efficaciously diversifying its economy, precisely in Dubai, but still remains severely depend on the revenues from petroleum and natural gas, which undergo to play an essential role in its economy, definitely in Abu Dhabi. Additionally, tourism is one of the superior non-oil sources of revenue in the UAE, with some of the world’s most exclusive hotels being based in the UAE. A massive construction boom, a broadening manufacturing base, and a thriving services segment are supportive the UAE diversify its economy.
The UAE is a principally import-oriented market. The top import products of the country comprise Jewellery, Electronic Products, Automotive Products, Refined Petroleum and Gold. The country is not a manufacturing hub and is therefore majorly reliant on imports for Retail and Consumer Products as well. The foremost import origins for the country are China, India, US, Germany and the UK.
The UAE is one of the principal producers and Exporters of Oil around the world, with its large Oil reserves majorly in Abu Dhabi. Its foremost export products comprise Crude Petroleum, Refined Petroleum, Petroleum Gas, Gold and Diamonds. The top export destinations for the country are Japan, India, South Korea, China and Singapore.
The economy of the United Arab Emirates is the second chief around the Middle East however, its economy remains tremendously reliant on petroleum. Whereas, the industry of logistics around the UAE is one of the top 5 logistics markets around the globe, conveyed the favourable location of UAE at the intersection of Africa, Asia and Europe. UAE Market Research Reports advises that growth in the industry has been stimulated owing to the great comfort of doing business in the Emirates, owing to which the region is home to a lot of international and multi-national brands.
UAE Industry Market Reports of Ken Research states that E-commerce industry in UAE has observed an upward trajectory over the past 5-6 years with an augment in internet penetration around the region. The UAE enjoys several advantages that make it ideal for e-commerce growth. Its customer demographic comprises of a young internet-savvy population, with high social media utilization. Appreciation in the number of smart phones in the region, high consumer confidence, transforming consumer preferences, etc. has increased the growth of e-commerce leading surging requirement for e-commerce logistics as well in the country. Dubai, Abu Dhabi and Sharjah have emerged as the foremost hub for demand and supply of the e-commerce logistics. The COVID-19 pandemic has also pushed the requirement in the market as the requirement for social distancing has forced individual to rely on online shopping. The growth in the E-commerce orders for logistics has been majorly propelled with an augment in internet affinity and requirement for value added services.
UAE Market Analysis Report delivers a comprehensive analysis of several respective market such as logistics and warehousing market of UAE, real estate space withing UAE and others. The report covers the overall size and future outlook of UAE market in terms of value, segmentation on the basis of service mix, by geography, by ownership and by type of industries. The report also covers the competitive landscape and company profiles of major Companies in UAE. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities and challenges.
Although, UAE Market Growth Reports conveys the UAE Market Overview and Size basis revenue and a number of subscribers of the activity kit subscription industry across UAE, supply ecosystem analysis, subscriber profile basis numerous socio-demographic variables, market subdivision, business model analysis, revenue stream analysis competition benchmarking, UAE Market Entry Strategy, porter five force analysis, BCG Matrix analysis, COVID impression, future predictions and probable trends & challenges. The UAE country research reports concludes with UAE market future outlook and analyst recommendations highlighting the major opportunities and functioning of the foremost players.
Moreover, the UAE Market Research Reports of Ken Research states the COVID-19 situation has hit worldwide supply chains largely, the UAE has been moderately less impacted. The logistics market in the country is projected to augment on the back of new technologies such as Automation, Blockchain and Internet of Things, which will be explored to augment efficiency, develop the customer experience and improve service quality. The pharma logistics segment and the e-commerce logistics segment are projected to propel growth in the future, given the predict increment in medical products demands post COVID-19 and the increasing penetration of e-commerce in the country.
Moreover, the UAE Government launched the “Vision 2021” plan, for the economic and social development of the country. From 2017 and ahead, the total number of international players in each respective submarket augmented. Newer sectors such as townhouses, and co-working spaces, smart and green buildings gained traction in the market. Based on the global growth that took place in co-working spaces, it is projected that UAE market future outlook will experience steady growth in the co-working space during the upcoming years. Approximately, half of the blue-chip entities will have some sort of shared office space by end of 2020. The majority of co-working space wage-earners propose to either enter into a partnership or have a lease agreement with landlords.
Not only has this, UAE has a robust freight forwarding market owning to the strategic geographical position on the trans-continental trade way and multi-modal connectivity in UAE. Sea freight registers the freight forwarding market in terms of volume owing to the expansion of sea ports and improvement of free zones. Industry and retail are the foremost end user in terms of revenue in freight forwarding market of UAE.
Based on the UAE country research reports, the logistics industry is probable to witness entry of new players and new mergers and acquisition among the players. The growing requirement of perishable products in the country will consequently increase the requirement for fast delivery affecting cold chain markets of UAE. In addition to this, growing investments in the manufacturing segment aiming to encourage economic diversification will pave a path of growth trajectory for logistics and warehousing market of UAE.
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Ankur Gupta, Head Marketing & Communications