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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 MENA as well as regional industrial IoT market. The study also highlights the impact of drivers, restraints, and macro indicators on the MENA 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 MENA industrial IoT market. The value of the market in 2022 was approximately USD 14 billion and expected to reach nearly USD 37 billion in 2028 with a CAGR of over 17% during the forecast period.
The Industrial IoT promises to generate a new wave of technological innovation. In a variety of industries, including manufacturing, healthcare, energy, oil & gas, and many more, AI and ML are becoming more and more popular. The majority of these industries use technology to streamline operations, automate the service delivery process, and upgrade their offers, which has become increasingly vital in the market's competition in the MENA region. The Machine-to-Machine (M2M) Internet of Things (IIoT), which places a significant emphasis on M2M connectivity, big data, and machine learning, enables businesses and industries to function more effectively and dependably. The IIoT includes industrial applications such as robotics and software-defined production processes.
Increasing government support towards digitalization in MENA regions is expected to drive the growth of the industrial IoT market. The government's support of industrial automation, increasing investments in Industry and the demand for high productivity, and efficiency are the main factors propelling this market's expansion. The industrial IoT market is being driven by advances in semiconductor and electrical device technology, and an increase in the use of cloud computing platforms. The absence of standardization and expensive capital and operating costs may restrain this market's expansion. Furthermore, increasing the adoption of automation and robotics may create ample growth opportunities for the market. Financial support from various governments for IIoT R&D projects may create various growth opportunities for the MENA Industrial IoT Market.
The industrial IoT market in the Middle East and Africa is dominated by Saudi Arabia. Probably the fastest-expanding industrial IoT market is Saudi Arabia. To enhance security and provide new levels of operational intelligence for governments, businesses, transportation, and communities, Saudi Arabia is developing cloud-based solutions and services. Evolving telecommunication and industrial sectors to boost the Saudi Arabia industrial IoT market growth. Increasing demand for asset monitoring and the digital transformation of industries is expected to drive the demand for Egypt IoT in the manufacturing sector. Continued innovation in sensor technologies in the industrial sector may boost the UAE’S Industrial IoT Market. Moreover, the Increasing adoption of IoT technology across end-use industries such as automotive, and manufacturing will drive the growth in the industrial IoT market in North Africa.
| Report Coverage | Details |
|---|---|
| Market Size in 2021 | Approximately USD 14 Billion |
| Market Size by 2028 | Nearly USD 37 Billion |
| Growth Rate from 2022 to 2028 | CAGR of Over 17% |
| Largest Market | Saudi Arabia |
| No. of Pages | 80 |
| Market Drivers |
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| Market Segmentation | By Technology, By Application, and By End Use |
| Regional Scope | Saudi Arabia, UAE, Qatar, Kuwait, Egypt, Sudan, and Rest of MENA |
The report on MENA 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.
The report provides profiles of the companies in the market such as Cisco Systems, Inc., Robert Bosch GmbH, Emerson Electric Co., Siemens, Texas Instruments Incorporated, PTC Inc., Honeywell International Inc., SAP SE, NEC Corporation, and ABB.
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.