Saudi Arabia Internet of Things Market is expected to grow at a robust CAGR
Saudi Arabia Internet of
Things (IoT) market is rising due to increased adoption in various sectors,
such as smart cities, oil and gas, and healthcare, driving innovation and
efficiency during the forecast period.
According to TechSci
Research report, “Saudi
Arabia Internet of Things Market –
By Region, Competition, Forecast and Opportunities, 2018-2028”, the
Internet of Things (IoT) market in Saudi Arabia is experiencing remarkable
growth and transformation. With a burgeoning demand for interconnected devices
and data-driven solutions, the country is witnessing a rapid expansion of IoT
applications across diverse sectors. Notably, Saudi Arabia is embracing IoT
technology to enhance its smart city initiatives, improving urban
infrastructure and resource management while fostering sustainability. In the
oil and gas industry, IoT is streamlining operations through predictive
maintenance and remote monitoring, optimizing efficiency and reducing downtime.
Furthermore, the healthcare sector is leveraging IoT to enhance patient care,
with applications ranging from remote health monitoring to tracking medical
equipment. As the government and businesses invest in IoT infrastructure, the
market is poised for further expansion, offering opportunities for technology
providers, startups, and enterprises to collaborate in shaping Saudi Arabia's
IoT landscape, ultimately driving economic growth and innovation.
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Based on Component, the Saudi Arabia Internet of Things
(IoT) market in 2022, the "Hardware" segment emerged as the dominant
component, and it is expected to maintain its dominance during the forecast
period. Hardware components, which encompass IoT devices and gateways, play a
foundational role in IoT infrastructure, and several factors contribute to
their sustained dominance. Firstly, the increasing adoption of IoT in various
industries, including manufacturing, healthcare, smart cities, and agriculture,
requires a wide range of physical devices to collect data, monitor assets, and
control operations. These devices include sensors, actuators, cameras, and
other specialized hardware tailored to specific applications. Secondly, the
continued development of IoT technology and the introduction of new, innovative
hardware solutions have expanded the scope of IoT applications. These
innovations drive the demand for hardware components, as businesses and
organizations seek to leverage the latest advancements to improve efficiency,
enhance decision-making, and reduce operational costs. Thirdly, the hardware
segment also encompasses gateways, which serve as essential intermediaries
between IoT devices and the cloud or data processing centers. These gateways
facilitate data transmission and play a critical role in ensuring the
reliability and security of IoT systems.
Given the fundamental role
hardware components play in enabling IoT solutions and the ongoing expansion of
IoT applications across various sectors in Saudi Arabia, the
"Hardware" segment is well-positioned to maintain its dominance in
the IoT market. The continuous evolution and adoption of IoT technology are
expected to drive sustained demand for IoT devices and gateways throughout the
forecast period.
Based on end user, the Saudi
Arabia Internet of Things (IoT) market in 2022, the "Oil and Gas"
segment emerged as the dominant end-use sector, and it is anticipated to
maintain its dominance during the forecast period. Several factors contribute
to the continued prevalence of IoT applications in the oil and gas industry in
the Saudi context. Firstly, the Saudi Arabian economy has a heavy reliance on
the oil and gas sector, making it a key driver for IoT adoption. The industry's
demand for operational efficiency, safety, and resource optimization aligns
with IoT technology's capabilities. IoT solutions are widely used for remote
monitoring and predictive maintenance of critical infrastructure, reducing
downtime and enhancing overall operational efficiency. Secondly, the vast and
complex nature of oil and gas operations in Saudi Arabia necessitates advanced
monitoring and automation solutions, which IoT can readily provide. IoT sensors
and devices facilitate real-time data collection from remote locations, enabling
timely decision-making and immediate response to potential issues, improving
the safety and reliability of operations.
Key market players in the
Saudi Arabia Internet of Things Market are:-
- Saudi Telecom Company (STC)
- Mobily (Etihad Etisalat)
- Zain Saudi Arabia
- Cisco Systems, Inc.
- IBM Corporation
- Microsoft Corporation
- Huawei Technologies Co.,
Ltd.
- Intel Corporation
- Schneider Electric SE
- Siemens AG
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“The Internet of Things
(IoT) market in Saudi Arabia is experiencing robust growth and rapid
transformation. With a strong emphasis on digitalization and technological
innovation, the country is harnessing IoT technology across various sectors.
Notably, Saudi Arabia is investing in smart city initiatives, aiming to enhance
urban infrastructure and services through IoT applications. Furthermore, the
industrial and manufacturing sectors are rapidly adopting IoT for operational
efficiency and productivity gains. The healthcare industry is leveraging IoT to
improve patient care and remote monitoring, while precision agriculture and
food security initiatives are enhancing sustainability in the agricultural
sector. With a focus on energy efficiency and sustainability, IoT is integral
to optimizing energy management and environmental monitoring. These
developments are creating a fertile ground for technology providers, startups,
and enterprises to collaborate and innovate in shaping Saudi Arabia's evolving
IoT landscape, ultimately driving economic growth and technological advancement.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Internet of Things (IoT)
Market Segmented By Component (Software (Real Time Streaming Analytics
Security, Data Management, Remote Monitoring, Network Bandwidth Management,
Others) Hardware (Device, Gateways), Service (Professional, Managed), By
Connectivity (Zigbee, Radio Frequency Identification (RFID), Near Field
Communication (NFC), Low Power Wide Area Network (LPWAN), Others), By End Use
(Oil and Gas, Manufacturing, Automotive & Transportation, Healthcare,
Retail and E-Commerce, Infrastructure Management, Others), By Region, and By
Competition, 2018-2028,”
has evaluated the future
growth potential of Saudi Arabia Internet of Things Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Saudi Arabia Internet of Things Market.
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