Dubai Internet City-based organizations are playing a crucial role in placing Dubai as a nursery and exporter of creative contactless technologies. These are on the correct track to hit a worldwide market size exceeding DH1.1 trillion by 2024.
As consumers flee from cash, these contactless services are observing an abrupt surge in demand because of improved user experience and creative interaction methods between devices and users. On Tuesday, it is said from Dubai Internet City, which is a home of numerous vital players in the contactless tech space.
Precedence Research’s latest report represents the worldwide contactless payment market size was worth $1.05 trillion in 2019 and is assumed to reach nearly $4.60 trillion by 2027. It is rising a market growth (CAGR) of 20.01% during its forecast time.
The managing director of Dubai Internet City stated that they are pleased to see those contactless services from across the world powerhouses that are an essential part of Dubai Internet city luke Visa. This merges their business district’s status together as a worldwide tech and talent hub that encourages innovations. With the inventive services, these organizations support Dubai Internet City’s pursues of its target of helping Dubai’s diversification in line with its leaders’ vision to optimize the huge and promising potential of this digital economy system, opined by AI Malik.
He also added, they see massive scopes for startups, multinational corporations, and freelancers to assemble together to examine and build cutting-edge contactless payment technologies in a deft ecosystem that serves state-of-the-art infrastructure, access to cost-effective and talent management business solutions.
