Saudi Arabia IIoT Platform Market is growing due to the Utilization of Cloud Computing in Large-Scale Industrial IoT solutions
Growing adoption of automated machinery, robotics, and intelligent
platforms is driving the IIoT market in the forecast period 2024- 2028 across
Saudi Arabia.
According to
TechSci Research report, Saudi Arabia IIoT Platform Market - By Region,
Competition Forecast & Opportunities, 2018-2028 the Saudi Arabia IIoT
Platform Market is expected to register robust growth during the forecast
period, 2024-2028. The Saudi Arabia IIoT platform market is
rising through the forecast period owing to numerous Government fundings and
incentives for the emergence of IIoT technologies for sustainability by
constructing the legal regulatory frameworks along with the emergence of
platform-related technological consortiums.
The usage of smart sensors along
with actuators to improve manufacturing and industrial processing is known as
the industrial internet of things (IIoT). IIoT, also known as the industrial
internet or Industry 4.0, leverages the power of smart machines and real-time
analytics to capitalize on the data generated by dumb machines in industrial
settings for years. The underlying philosophy of IIoT is that smart machines
are not only better than humans at capturing and analyzing data in real time, while
communicating critical information that can be used to drive faster and more
accurate business decisions. Machines and devices in industries such as oil and
gas, utilities, and manufacturing are linked by IIoT applications. System
failures and downtime in IIoT deployments can lead to high-risk or even
life-threatening situations. In addition, unlike IoT applications, IIoT
applications are more concerned with improving efficiency and health or safety.
COVID-19 had a significant
impact on the industrial IoT market because the government took strict measures
such as closure of production as well as the sales of non-essential goods, which
leads to the blocking international trade. The industrial IoT market is growing
as a result of the digitalization of manufacturing activities and supply chains
for electrical, agriculture, oil & gas, utilities, mining and
transportation.
Additionally, the IoT
adoption in industries had huge progress from 2020 to 2021 as the pandemic
demonstrated the importance of IoT in all types of businesses. The surge in
demand for automation to avoid the involvement of a maximum workforce has
driven the adoption of IoT in industries. This replicates the positive impact
of COVID-19 on the IIoT market, which has further catalyzed the business
through adopting industry 4.0 technologies. Manufacturers are making various
strategic decisions to bounce back post-COVID-19. The players are conducting
multiple research and development activities to improve the technology in the
industrial IoT market. The companies will bring advanced and accurate solutions
to the market.
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Figures spread through 70 Pages and an in-depth TOC on the "Saudi Arabia IIoT Platform Market"
The Saudi Arabia IIoT Platform market is segmented based on platform
type, application area, end user vertical, and region. Based on platform type,
the market is divided into device management platform, application management
platform, and connectivity management platform. Based on application area, the
market is categorized into predictive maintenance, business process
optimization, asset tracking & management, logistics & supply chain
management, and others. Based on end user vertical, the market is segregated
into manufacturing, energy, healthcare, metals & mining, retail, and
others. The market analysis also studies the regional segmentation to devise
regional market segmentation, divided among Western Region, Northern &
Central Region, Eastern Region, and Southern Region.
For platform type, the device management platform holds the largest
share in the IIoT platform market in 2022 as remote management of IIoT devices
is required after the rising IIoT deployments across the country that involve
millions of linked devices. Based on application area, predictive maintenance
segment holds the largest share in the IIoT platform market in 2022 as
predictive maintenance is a function of the IIoT and is feasible to predict
machine problems using real-time data gathered from numerous sources, allowing
businesses to take corrective action before the machine malfunctions. Based on
end use vertical, manufacturing sector hold the largest share in the IIoT
platform market in 2022 owing to the rising demand of IoT in modern production
facilities where the notion of smart manufacturing has been around since its
establishment.
Key market
players in the Saudi Arabia IIoT Platform Market include:
- IBM Middle East - FZ LLC
- Microsoft Corporation
- Cisco - Middle East
- Saudi Arabia- Intel
- SAP MENA
- Siemens Saudi Arabia
- Oracle Saudi Arabia
- Schneider Electric Saudi Arabia
- Hitachi T&D Systems Saudi Arabia
- Saudi Arabia - Hewlett Packard Enterprise (HPE)
Recent
Development
- In
March 2022, Cisco Systems, Inc. developed an advanced IoT Control Center
platform to help improve service reliability and reduce operational costs. This
development is expected to help the company diversify its solution portfolio
and offers better quality solutions.
- In
April 2022, Arm Limited introduced two new solutions, Arm Cortex-M85 and
Cortex-A. These new products and solutions are expected to help the company
offer better solutions to customers, attracting new customers and accelerating
revenue growth across the country.
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“Connected sensors and actuators can be used for the
businesses to detect inefficiencies and problems beforehand that results in saving
time as well as expenses while supporting business intelligence efforts. In
particular, IIoT technology has enormous potential in manufacturing in various
activities such as quality control, sustainable and green practices, supply
chain traceability, and overall supply chain efficiency. IIoT is critical in
industrial settings for processes such as predictive maintenance (PdM), energy management,
improved field service, and asset tracking. IIoT devices are also widely used
in the agriculture industry. Industrial sensors collect data on soil nutrients,
moisture, and other factors, that allows farmers to produce the best crop
possible.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Saudi
Arabia IIoT
Platform Market By Platform Type (Device Management Platform, Application
Management Platform and Connectivity Management Platform), By Application Area
(Predictive Maintenance, Business Process Optimization, Asset Tracking &
Management, Logistics & Supply Chain Management and Others), By End User
Vertical (Manufacturing, Energy, Healthcare, Metals & Mining, Retail,
Others), By Region, Competition Forecast & Opportunities, 2028” has assessed the Saudi Arabia
IIoT Platform market's future development potential and provides data and
information on market size, structure, and projected market growth. The
report's goal is to give current market knowledge and assist decision makers in
making informed investment decisions. Furthermore, the study identifies and
analyses emerging trends, as well as key drivers, constraints, and
opportunities in the Saudi Arabia IIoT Platform market.
Contact
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