GCC Industrial IoT Market (Technology - Sensor, Industrial Robotics, Cameras, Networking technology, and Others; Application - SCADA, MES, PLM, Distribution Management System, Transit Management System, and Others; End Use - Manufacturing, Logistics, Metal & Mining, Energy, and Other): Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report ongoing study by Infinium Global Research on the industrial IoT market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional industrial IoT market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional industrial IoT market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the GCC industrial IoT market. The value of the market in 2022 was over USD 9 billion and expected to reach more than USD 26 billion in 2028 with a CAGR of approximately 19% during the forecast period.

Market Insight

The Internet of Things is an interconnected network of computing devices, mechanical and digital machines, and items that may connect and exchange data without the need for human-to-human or human-to-computer interaction. The Industrial Internet of Things focuses mostly on big data, machine-to-machine connectivity, and ML to support enterprises and industries in their operations with greater efficiency and dependability. Industrial internet of things applications include robotics and software-defined manufacturing processes. Additionally, IIoT supports modern industrial employees, the industrial internet, and prescriptive analytics to boost the efficiency and stability of industry operations. IIoT makes it easier than ever to monitor, analyze, deliver, trade, and deliver valuable new insights. One of the most important aspects influencing the growth of the global industrial IoT market is the new insights that may benefit industries in terms of fastest and better business decision-making.

Some of the key factors anticipated to propel the growth of the GCC Industrial IoT market include the increasing digitization of industries, and the increasing use of smartphones, laptops, and smart wearable electronics, the market will be expected to develop due to the increasing usage of digital technologies among industries. Additionally, increased industry adoption of M2M technology for boosting production, resource optimization, operating expenses, and energy efficiency is predicted to support the market's expansion. These industries include manufacturing, communications, energy, and others. High installation costs may restrain the market growth. Integrated technology and innovation are expected to create numerous growth opportunities for the market in the GCC region.

Saudi Arabia is projected to be the largest market for industrial IoT. Saudi Arabia is expected to drive the growth of the GCC industrial IoT Market due to strong urbanization and industrialization and huge investment by the government in the IoT sector. Saudi Arabia is one of the major countries with high demand for industrial IoT. Increasing adoption of advanced technology. Artificial intelligence and big data in the industrial sector are expected to drive the growth of the market in Kuwait. Widespread adoption of IoT solutions across various enterprises is expected to drive the growth of industrial IoT in the UAE. Furthermore, the booming IT and telecommunication industry helps to propel the market growth in GCC regions.

Report Scope of the Industrial IoT Market:

Segment Covered

The report on GCC industrial IoT market covers segments such as technology, application, and end use. On the basis of technology, the sub-markets include sensor, industrial robotics, cameras, networking technology, and others. On the basis of application, the sub-markets include scada, mes, plm, distribution management system, transit management system, and others. On the basis of end use, the sub-markets include manufacturing, logistics, metal & mining, energy, and other.

Companies Profiled:

The report provides profiles of the companies in the market such as Cisco Systems, Inc., Siemens, IBM Corporation, Intel Corporation, PTC Inc., Honeywell International Inc., NEC Corporation, ABB, SAP SE, and Texas Instruments Incorporated.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the industrial IoT market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.