The MENA region’s entrepreneurial
ecosystem, which has been developing significantly over the years is set to
With key investments from major
international players, the region is positioned to diversify product offerings
and propel entrepreneurship.
The UAE government has always showed
full support by encouraging the rise of start-ups and promoting new ideas and
concepts, which can be utilized to enhance the economy at large.
Development of a sustainable start-up
ecosystem can help the region create a system which is valuable to
entrepreneurs and investors alike.
The ecosystem itself needs to ensure
that entrepreneurs and start-up companies can get the help they need to build
According to the Global
Entrepreneurship Monitor Report 2017, 73% of the population of Egypt find
entrepreneurship as a key career choice.
It has also been reported that there
have been 3000 start-ups in the region and over $870 million investments for
start-ups within the last year.
The UAE has also been noted to be the
forerunner as an entrepreneurial hub, being at the top of the MENA region’s top
funded start-ups, equating to 50 per cent.
The world’s most notable
entrepreneurial ecosystem venues is the California-based Silicon Valley.
MENA has the opportunity to follow a
similar path and challenge the status quo by utilizing three main concepts for
becoming an entrepreneurial hub and that is connecting all the field’s regional
The MIT Enterprise Forum Arab Start-up
Competition, which was held in May 2017 recognizes talent in innovation and
entrepreneurship and identified key start-ups from the MENA region, who are
paving the way using technology and other innovative means to change the world.
Technology has a major role in MENA
especially in Egypt and the UAE to further enhance the landscape for new
start-up product developments and networking with global investors.
Due to the fact that we live in a
competitive, global economic environment, the MENA region has to compete with
other global entrepreneurial hubs such as global technology headquarter Silicon
However, the region is positively
positioned to thrive in nurturing new talent, training and education and can
diversify investments that can spearhead start-ups into a prosperous future for
the flourishing economy in the Middle East.
Following are a fields
technology-related that can be a potential opportunities for MENA entrepreneurs
Researchers estimate that the 3D
printing market will reach $7.3 billion in 2016. The primary market – including
3D printing systems, materials, supplies and service – has grown at least 30%
each year from 2012 to 2014. The rest of the growth comes from the secondary
tooling, molding and castings.
countries (North America and Europe) account for more than two-thirds (68%) of
the 3D printing market revenue and Asia Pacific accounts for 27%.
consumer electronics and automotive industries each contribute 20% of the total
3D printing revenue. These early-adopter industries use the technology
primarily during the prototyping stage of production. For example, smartphone
manufacturers are slowly using 3D printing for more than just prototyping—some
component parts are now manufactured with 3D methods.
medical device industry (15%) is the third largest 3D printing market and uses
3D printing for mass customized finished goods such as hearing aids.
fact: 98% of hearing aids worldwide are manufactured using 3D printing.
Two thirds of manufacturers already use 3D printing in some way,
and 25% plan to adopt the technology in the future. Despite these numbers, the
full potential of 3D
printing is far from tapped.
Thirty-two percent of current users don’t believe their company is
fully leveraging the advantages of 3D printing while 45% of intenders would use
the technology more if
benefits were better understood by their company.
The primary influencers driving companies’ 3D printing strategy
are managers in R&D, engineering and or manufacturing. Demonstrating the
benefits of 3D printing to these audiences is crucial for driving increased
Like the internet and
GPS before them, drones are evolving beyond their military origin to become
powerful business tools. They’ve already made the leap to the consumer market,
and now they’re being put to work in commercial and civil government
applications from firefighting to farming. That’s creating a market opportunity
that’s too large to ignore.
THE OPPORTUNITY AHEAD
Between now and 2020, we forecast a
$100 billion market opportunity for drones—helped by growing demand from the
commercial and civil government sectors.
Drones got their start as safer,
cheaper and often more capable alternatives to manned military aircraft.
Defense will remain the largest market for the foreseeable future as global
competition heats up and technology continues to improve.
The consumer drone market was the
first to develop outside the military. Demand has taken off in the last two
years and hobbyist drones have become a familiar sight, but there is plenty of
room for growth.
Over the next few years, its expected
that consumer demand will continue to build. By 2020, we expect 7.8 million
consumer drone shipments and $3.3 billion in revenue, versus only 450,000
shipments and $700 million in revenue in 2014.
Source: Goldman Sachs Research
The fastest growth opportunity comes
from businesses and civil governments. They’re just beginning to explore the
possibilities, but we expect they’ll spend $13 billion on drones between now
and 2020, putting thousands of them in the sky. Here’s where you might see
The market for
artificial intelligence (AI) technologies is flourishing. Beyond the hype and
the heightened media attention, the numerous startups and the internet giants
racing to acquire them, there is a significant increase in investment and
adoption by enterprises.
A Narrative Science survey found
last year that 38% of enterprises are already using AI, growing to 62% by
2018. Forrester Research predicted a greater than 300% increase in
investment in artificial intelligence in 2017 compared with 2016. IDC
estimated that the AI market will grow from $8 billion in 2016 to more
than $47 billion in 2020.
Coined in 1955 to
describe a new computer science sub-discipline, “Artificial Intelligence”
today includes a variety of technologies and tools, some time-tested, others
relatively new. To help make sense of what’s hot and what’s not, Forrester just
published a TechRadar report on Artificial Intelligence (for
application development professionals), a detailed analysis of 13 technologies
enterprises should consider adopting to support human decision-making.
Forrester’s analysis, here’s a list of the 10 hottest AI technologies:
Natural Language Generation: Producing text from computer data.
Currently used in customer service, report generation, and summarizing business
intelligence insights. Sample vendors: Attivio, Automated Insights, Cambridge
Semantics, Digital Reasoning, Lucidworks, Narrative Science, SAS, Yseop.
Speech Recognition: Transcribe and transform human
speech into format useful for computer applications. Currently used in
interactive voice response systems and mobile applications. Sample vendors:
NICE, Nuance Communications, OpenText, Verint Systems.
Virtual Agents: “The current darling of the media,”
says Forrester (I believe they refer to my evolving relationships with Alexa),
from simple chatbots to advanced systems that can network with humans.
Currently used in customer service and support and as a smart home manager.
Sample vendors: Amazon, Apple, Artificial Solutions, Assist AI, Creative
Virtual, Google, IBM, IPsoft, Microsoft, Satisfi.
Machine Learning Platforms: Providing algorithms, APIs,
development and training toolkits, data, as well as computing power to design,
train, and deploy models into applications, processes, and other machines.
Currently used in a wide range of enterprise applications, mostly `involving
prediction or classification. Sample vendors: Amazon, Fractal Analytics,
Google, H2O.ai, Microsoft, SAS, Skytree.
AI-optimized Hardware: Graphics processing units (GPU) and
appliances specifically designed and architected to efficiently run AI-oriented
computational jobs. Currently primarily making a difference in deep learning
applications. Sample vendors: Alluviate, Cray, Google, IBM, Intel, Nvidia.
Decision Management: Engines that insert rules and logic
into AI systems and used for initial setup/training and ongoing maintenance and
tuning. A mature technology, it is used in a wide variety of enterprise
applications, assisting in or performing automated decision-making. Sample
vendors: Advanced Systems Concepts, Informatica, Maana, Pegasystems, UiPath.
Deep Learning Platforms: A special type of machine learning
consisting of artificial neural networks with multiple abstraction layers.
Currently primarily used in pattern recognition and classification applications
supported by very large data sets. Sample vendors: Deep Instinct, Ersatz Labs,
Fluid AI, MathWorks, Peltarion, Saffron Technology, Sentient Technologies.
Biometrics: Enable more natural interactions between
humans and machines, including but not limited to image and touch recognition,
speech, and body language. Currently used primarily in market research. Sample
vendors: 3VR, Affectiva, Agnitio, FaceFirst, Sensory, Synqera, Tahzoo.
Robotic Process Automation: Using scripts and other methods to
automate human action to support efficient business processes. Currently used
where it’s too expensive or inefficient for humans to execute a task or a
process. Sample vendors: Advanced Systems Concepts, Automation Anywhere, Blue
Prism, UiPath, WorkFusion.
10. Text Analytics
and NLP: Natural language
processing (NLP) uses and supports text analytics by facilitating the
understanding of sentence structure and meaning, sentiment, and intent through
statistical and machine learning methods. Currently used in fraud detection and
security, a wide range of automated assistants, and applications for mining
unstructured data. Sample vendors: Basis Technology, Coveo, Expert System,
Indico, Knime, Lexalytics, Linguamatics, Mindbreeze, Sinequa, Stratifyd,
certainly many business benefits gained from AI technologies today, but
according to a survey Forrester conducted last year, there are also obstacles
to AI adoption as expressed by companies with no plans of investing in AI:
There is no
Not clear what AI
can be used
Don’t have the
Need first to
invest in modernizing data mgt
certain what is needed for implementing an AI
systems are not
not have the right processes or governance
is a lot of hype with little substance
own or have access to the required
sure what AI
enterprises overcome these obstacles, Forrester concludes, they stand to gain
from AI driving accelerated transformation in customer-facing applications and
developing an interconnected web of enterprise intelligence.
Cybersecurity Ventures predicts global spending on cybersecurity
products and services will exceed $1 trillion cumulatively over the next five
years, from 2017 to 2021.
In 2004, the global cybersecurity market was worth $3.5 billion —
and in 2017 we expect it to be worth more than $120 billion. The cybersecurity
market grew by roughly 35X over 13 years.
While all other tech sectors are driven by reducing inefficiencies
and increasing productivity, cybersecurity spending is driven by cybercrime.
The unprecedented cybercriminal activity we are witnessing is generating so
much cyber spending, it’s become nearly impossible for analysts to accurately
Anticipates are 12-15 percent year-over-year cybersecurity market
growth through 2021, compared to the 8-10 percent projected over the next five
years by several industry analysts.
IT analyst forecasts are unable to keep pace with the dramatic
rise in cybercrime, the ransomware epidemic, the refocusing of malware from PCs
and laptops to smartphones and mobile devices, the deployment of billions of under-protected
Internet of Things (IoT) devices, the legions of hackers-for-hire, and the more
sophisticated cyber-attacks launching at businesses, governments, educational
institutions, and consumers globally.
It is likely that analyst firms will catch up with our projections
in 2017 — and update the disproportionately low share of total IT spending
which security is expected to account for (over the next 5 years) in their
current reports. By 2020, we expect IT analysts covering cybersecurity will be
predicting five-year spending forecasts (to 2025) at well over $1 trillion.
Market researchers size information security spending
A Gartner report projected global spending on “IT security”
products and services would top $81 billion in 2016, an increase of 7.9%
over the prior year (this is not a “cybersecurity” projection that would
include all aspects of cyber defense i.e. consumers, IoT devices, automobiles,
etc.). The largest areas of information security spending are consulting
and IT outsourcing, according to the report.
A 2016 report from BI Intelligence — Business Insider’s
research service — estimated $655 billion will be spent on cybersecurity
initiatives to protect PCs, mobile devices, and Internet of Things (IoT)
devices between 2015 and 2020. BI breaks down the forecasted spending as
follows: $386 billion spent on securing PCs; $172 billion spent on securing IoT
devices; and $113 billion spent on securing mobile devices.
A Morgan Stanley Blue Paper published this past summer —
“Cybersecurity: Rethinking Security” — examines why and how digital security
could evolve in the next several years—and what these changes mean for
investors.. and asserts the cybersecurity market could grow by more than four
times overall IT spend.
North America and Europe are the leading cybersecurity revenue
contributors, according to a report from TechSci Research. Asia-Pacific is
rapidly emerging as a potential market for cyber security solution providers,
driven by emerging economies such as China, India and South-East Asian
countries, wherein, rising cyber espionage by foreign countries is inducing the
need for safeguarding cyber space.
India should see huge cybersecurity market growth over the next
decade. According to Data Security Council of India
(DSCI), India’s cybersecurity market is expected to grow nine-fold
to $35 billion by 2025, from about $4 billion. This would mainly be driven by
an ecosystem to promote the growth of indigenous security product and services
According to IDC, the hot areas for growth are security
analytics / SIEM (10 percent); threat intelligence (10 percent +); mobile
security (18 percent); and cloud security (50 percent). A Tech Republic story
states the cloud security market is expected to be worth $12 billion by 2020,
according to a report from Transparency Market Research.
Government spending on cybersecurity has increased at an average
annual rate of 14.5% between FY 2006 and FY 2017, outpacing procurement in
every other type of major government program, according to Scott Homa, Senior
Vice President for Mid-Atlantic Research at Jones Lang LaSalle IP, Inc.
(JLL), a financial and professional services firm specializing in commercial
real estate services and investment management with 60,000 employees across 280
corporate offices worldwide.
Demand for vendor-furnished information security products and
services by the U.S. federal government will increase from $8.6 billion in FY
2015 to $11 billion in 2020 at a compound annual growth rate (CAGR) of 5.2
percent, according to “Deltek’s Federal Information Security Market Report”.
Deltek states that as federal agencies struggle to stay ahead of the
cybersecurity threats, more and more of their IT spend is being devoted to
cybersecurity, reaching over 10 percent of IT spend by 2020.