An insatiable appetite for mobile apps among the UAE’s tech savvy millennials is fuelling the growth of UAE technology start-ups, says Fahad Al Bannai, CEO of axiom telecom.
“What we are witnessing now is a lifestyle evolution, one in which errands are transforming into services, all with the help of mobile apps,” says Al Bannai.
“And in the 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.”
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.
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.
A 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.
“For today’s busy and career-driven millennials, these apps serve as valuable time-saving tools, enabling users to multi-task and complete errands seamlessly and with minimal effort. I am confident we will continue to see significant developments in how these apps are developed and their functional capabilities. One thing is for certain, however — the race is on to build tomorrow’s most coveted mobile app,” Al Bannai concludes.