Egypt Internet of Things Market to Reach USD 1381.56 Million By 2026 – TechSci Research
According to TechSci Research report, “Egypt IoT Market was valued at USD471.11 million in 2020 and is expected to grow at a CAGR of 19.32% during the forecast period owing to the increasing importance of capturing real-time data, decreasing costs of connectivity, sensors and increasing smartphone penetration. Moreover, the technological advancement across all sectors has led to increase in the application of IoT. It also allows companies to automate conditions and reduce labor costs. It reduces waste and improves service delivery, reduces the cost of producing and delivering goods, and provides customer insights and purchasing as well as purchasing pattern. The Egypt IoT market is also driven by government initiatives like the Egyptian authority ITIDA5, which is responsible for ICT sector’s development and investment in Egypt have founded “The IoT Egypt Forum” which helps in boosting high interest in the developing of IoT solutions and attracting foreign investments. However, concerns related to the skilled workforce, availability of proper infrastructure and resources are expected to hamper the market growth during the forecast period.
Browse Egypt IOT Market 162 Figures spread through 70 Pages and an in-depth TOC on " Egypt IOT Market "
The Egypt IoT market can be segmented based on component, type, connectivity, end use, and region. Based on component, the market can be segmented into software, hardware and service. The software segment held 45.98% share in 2020 and is expected to grow at a CAGR of 18.69% in the future. The software segment is growing on the accounts of increasing number of application software providing real time data analytics which helps organizations by reducing ambiguity to a greater extent and minimize the risk of late decision making through monitoring the real time data. In terms of type, the market can be bifurcated into B2B, B2G, B2C. In 2020, the B2C segment is estimated to grow at a rapid pace with a CAGR of 19.57% in the forecast period primarily because of the rapid adoption of IoT services by the customers and increasing smart phones and high-end smart home automation devices, connected devices like smart TV, streaming devices, and health tracking devices. Based on connectivity, the market is segmented into LPWAN, radio frequency identification (RFID), near field communication, Zigbee and others including cellular, Wifi, Bluetooth, etc. RFID is expected to grow with the highest CAGR of 21.16% due to increase in transportation and retail sector also automated inventory and asset-tracking in healthcare, manufacturing, and other business sectors. Based on end use industry, the market can be segmented automotive & transportation, manufacturing, IT & telecom, environmental monitoring, healthcare, consumer electronics & others including energy management, infrastructure management, security, smart cities, smart building, etc. The manufacturing industry segment captures the majority of the market with a share of 21.89% in 2020 and is expected to grow the market in the forecast period as well with a share of 19.63% in 2026 due to increase in automation, centralized monitoring, and predictive maintenance in the industry.
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Top Players in IOT Market
· Siemens AG
· Amazon.com, Inc.
· International Business Machines Corporation
· Cisco System INC.
· Microsoft Corporation
· Oracle Systems Corporation
According to TechSci Research “IoT technology is increasingly being used due to its ability to access information from anywhere at any point of time on any device which saves time and reduces cost in each industry. IoT is the most promising and profitable among the IT sub-sectors. From a broader perspective, IoT can be seen as a sight for the future as technologies. The rise in Egypt IoT market with increasing digital penetration and most importantly due to government initiatives like associations between the market players to enhance the internet of things market demand by building cloud infrastructure to ensure easy flow of operations are expected to influence the market growth, Moreover high-end investments for escalating the capacity and providing technical training to the workforce.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
We cover following topic in this report
· Egypt IOT Market Outlook
· Egypt IOT Market Size
· Egypt IOT Market Share
· Egypt IOT Market Growth
· Egypt IOT Market Forecast
· Egypt IOT Market Future
· Egypt IOT Market Trends
“Egypt Internet of Things (IoT) Market By Component (Software, Hardware & Service), By Type (B2B, B2G, B2C), By Connectivity (LPWAN, Radio frequency Identification (RFID), Near Field Communication, Zigbee, Others), By End Use (Manufacturing, IT & Telecom, Automotive &Transportation, Consumer Electronics, Healthcare, Environmental Monitoring, & Others), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of the Egypt IoT market and provides statistics and 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 the Egypt IoT Market.
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