Africa to come out as a potential next hotbed of technological innovation

The tech giants are always looking for new and unexplored markets. Africa has caught the interest of many multinational companies in recent times. The consumer market of Africa is huge in size and virgin in nature. It can be the next hotbed for new technological developments. Soon, you could see tech companies flocking here for a slice of the new-found market. Financial experts are very positive in their opinion of the African markets that have not yet been tapped.

The emerging African tech market promises innovation and creativity. However, without consumer need or expectations, no tech company would try to launch new products. The research director of IDC Middle East, Turkey and Africa, Mark Walker, thinks that there is space for new technological innovations in Africa as their approach is not like the rest of the world market. When observed closely, it can be understood that the recently launched products are nothing new but mere improvised versions of the old products. In Africa, people are interested in trying new ways of communication and transactions.

Has Africa developed enough for attracting the Tech Giants?

The development of Africa is fast catching up with the other progressive countries. The East Coast of Africa is progressive especially in the matters of technology. The countries like Ghana, Tanzania, and Kenya have developed so much in the past decade that now they are setting up outsourcing organizations and capturing the global outsourcing market. They are even snatching the business of Indian and other foreign companies as well. They have become capable of providing good service at low cost. Most of the populace can speak fluent English and they have got education for the much-needed back up. Their location has put them into the same time zone as the middle European countries. They are giving better labor at cheaper prices and this is not something the tech giants can ignore. The consumer market can expand in the next few decades beyond measures. Famous names in the tech arena like Microsoft and Samsung are trying to root their feet in this growing market, and rightly so.

Not same at all places

The African continent is too huge and all places have not developed equally. The large population can be transformed into a thriving market, but it certainly requires patience and sincere efforts. Hence, it would definitely take some time and reforms for changing the whole continent into a potential market.