DUBAI, United Arab Emirates (CNN) — A report released by the United Nations Conference on Trade and Development titled “Technology and Innovation 2023” shows that the wave of technological change initiated by renewable and other green technologies Opens a New Window. Opportunities to build resilience against threats, development of strong and diversified economies, and transition to better growth paths with economies that are less burdensome to the environment.

The report explores 17 of these “lead technologies” – including artificial intelligence (AI) for turning green hydrogen into biofuel – highlighting the potential economic benefits and assessing countries’ abilities to use, adopt and adapt these innovations.

The report includes the Leading Technology Readiness Index 2023, which ranks 166 countries on their readiness to start using leading technologies along five indicators: information and communication technology, skills, industry, research and development, and financing.

These technologies have seen tremendous growth over the past two decades, the report says. The total market capitalization will reach $1.5 trillion by 2020 and $9.5 trillion by 2030. The Internet of Things (IoT) encompasses a wide range of devices across multiple segments. The technologies are primarily provided by a few countries, including the US, China and countries in Western Europe.

Check out the chart above that ranks Arab countries on the Leading Technology Readiness Index for 2023.