Taylor suffered a semi-final defeat a week ago in the Betway Premier League Darts, as he allowed a 4-1 lead to slip against great rival Raymond van Barneveld - who went on to claim the title at The O2.
The 16-time World Champion later admitted that missing six doubles in one key leg was a killer blow to his hopes, but is in positive mood as he bids to bounce back at the Dubai Duty Free Tennis Stadium.
"I cannot wait," said Taylor. "I blew it in the [Premier League] semis to be honest but I'm really looking forward to this tournament.
"Dubai blows my mind - it's the greatest place I've ever been and I love coming here - and I'd love to win it.
"Peter's a tough player and it will be a good match. He's a good finisher and confident in his ability, and he just won a tournament last weekend.
"They're all good players here and it doesn't matter who you play - I'll just have to get stuck in."
The open-air tournament is held on a specially constructed stage at the Dubai Duty Free Tennis Stadium, with a canopy aiming to minimise the potential for any wind movement on stage.
"We have done it before so we know what to expect, but it is difficult because you're playing outdoors," admitted Taylor.
"What I was doing [last year] with some of the shots was throwing at treble one and it was pushing the dart across to the treble 20.
"The only thing you get in your mind is that sometimes the wind takes your dart away, and you're thinking that millions of people are watching you hit big fives or double twos, so it's a funny experience.
"We've just got to get on with it. It's all part of the fun, and whoever wins deserves to win."
The Dubai Duty Free Darts Masters will be shown live on Dubai Sports TV as well as through OSN across the Middle East, Sky Sports in the UK & Ireland, Fox Sports in Australia and on Sky New Zealand, as well as online throughwww.LIVEPDC.TV.
Tickets and Corporate Hospitality tables for the Dubai Duty Free Darts Masters can be purchase from Irish Village (+971 (0)4 239 5000) and Time Out Tickets (www.timeouttickets.com).
Coverage on each day will commence at 8pm local time (5pm BST).
Dubai Duty Free Darts Masters
Thursday May 29
8pm-11pm local time
Best of 19 legs
Friday May 30
8pm-11pm local time
Semi-Finals & Final
Best of 21 legs
Dubai Sports TV
Fox Sports Australia
Sky New Zealand