MENA IoT Market is Expected to Represent Highest Incremental Opportunity Revenue of USD 40 Billion By 2030 | IGR

Infinium Global Research, a renowned leader in market research, is thrilled to announce the release of its latest report, a comprehensive analysis of the Internet of Things (IoT) Market in the Middle East and North Africa (MENA) region. The report provides an in-depth examination of segments and sub-segments within the MENA and regional IoT market. It also delves into the impact of drivers, restraints, and macro indicators on both short-term and long-term trends. This report serves as a comprehensive presentation of market trends, forecasts, and dollar values, providing valuable insights into the MENA IoT market.

The MENA IoT market exhibited impressive growth in 2022, boasting a market value of approximately USD 16 billion. Forecasts suggest that the market is set to surge, reaching over USD 40 billion by 2028, with a Compound Annual Growth Rate (CAGR) of approximately 17% during the forecast period.

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IoT connections in the Middle East and North Africa (MENA) region are expanding at a faster pace than in the Asia-Pacific. Governmental initiatives and collaborations within the mobile industry are anticipated to play a pivotal role in advancing IoT, particularly driven by well-established smart city visions. MENA's dedication to IoT innovation is expected to have a positive impact on the regional economy's Gross Domestic Product (GDP). Mobile providers in the MENA region are seizing rapidly expanding opportunities presented by the Internet of Things. Several technology firms predict that spending on IoT technologies in the Middle East and Africa (MEA) is poised to reach record levels in recent years.

The growth in IoT adoption in MENA is being driven by government efforts to address resource scarcity and improve the well-being of citizens. Enterprises are also embracing IoT solutions to enhance efficiencies and reduce costs, contributing to the increase in IoT connections. Consumer IoT accounts for the majority of IoT connections in MENA, primarily fueled by the adoption of smart home and home security systems. Collaborations and partnerships have played a crucial role in the market entry process, actively promoting adoption.

A diverse range of electronic devices is required for real-time data solutions, with the demand for IoT devices primarily increasing due to the need for real-time data. The analysis in business operations enables companies to quickly comprehend their data and make decisions about when to offer products or services to customers. Real-time solutions involving the use of IoT devices in various industries are in high demand, making them a key factor in market expansion. Implementing IoT solutions for businesses requires careful planning and a suitable automation approach, which is not a quick or straightforward process. End users need time and effort to embrace these solutions and educate their staff on how to operate and maintain them. Furthermore, the rise of smart city projects in the MENA region is expected to offer lucrative growth opportunities to market players.

Geographically, the MENA IoT market is segmented into Saudi Arabia, UAE, Qatar, Kuwait, Egypt, Algeria, and the Rest of the MENA countries. Among these, Saudi Arabia and the UAE are expected to hold significant market shares. Saudi Arabia's IoT market is projected to continue its growth trajectory, driven by urbanization and industrialization, with massive national projects like NEOM smart city playing a pivotal role in data collection, automation, and operations enabled by IoT. Kuwait is witnessing substantial growth in ICT spending, which is likely to boost IoT technology adoption in the country. The United Arab Emirates boasts the execution of IoT applications in nearly two-thirds of companies, leading to cost savings, new revenue streams, and enhanced production efficiency. The adoption of IoT technology is slower in North African countries compared to GCC countries. However, investments in digital infrastructure and connectivity are driving the demand for IoT technology in the North African region.

The report on the MENA IoT market covers segments such as components and end-users. In the components category, the sub-markets include hardware, software/platform, connectivity, and services. In the end-user category, the sub-markets cover transportation, healthcare, retail, energy and utilities, residential, government, insurance, and others.

The report also provides profiles of key companies operating in the MENA IoT market, including Siemens, General Electric, IBM Corporation, Intel Corporation, SAP SE, Cisco Systems, Inc., Microsoft Corporation, Honeywell International Inc., NEC Corporation, and Rockwell Automation.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. IoT Market Highlights

2.2. IoT Market Projection

2.3. IoT Market Country Highlights

Chapter 3. MENA IoT Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Porter`s Five Forces Analysis

3.4. IGR-Growth Matrix Analysis

3.4.1. IGR-Growth Matrix Analysis by Component

3.4.2. IGR-Growth Matrix Analysis by End User

3.4.3. IGR-Growth Matrix Analysis by Country

3.5. Value Chain Analysis of IoT Market

Chapter 4. Company Profiles and Competitive Landscape

4.1. Competitive Landscape in the MENA IoT Market

4.2. Companies Profiles

4.2.1. Siemens

4.2.2. General Electric

4.2.3. IBM Corporation

4.2.4. Intel Corporation

4.2.5. SAP SE

4.2.6. Cisco Systems, Inc.

4.2.7. Microsoft Corporation

4.2.8. Honeywell International Inc.

4.2.9. NEC Corporation

4.2.10. Rockwell Automation

Chapter 5. MENA IoT Market by Component

5.1. Hardware

5.2. Software/ Platform

5.3. Connectivity

5.4. Services

Chapter 6. MENA IoT Market by End User

6.1. Transportation

6.2. Healthcare

6.3. Retail

6.4. Energy and Utilities

6.5. Residential

6.6. Government

6.7. Insurance

6.8. Other

Chapter 7. MENA IoT Market by Country 2022-2028

7.1. Saudi Arabia

7.1.1. Saudi Arabia IoT Market by Component

7.1.2. Saudi Arabia IoT Market by End User

7.2. UAE

7.2.1. UAE IoT Market by Component

7.2.2. UAE IoT Market by End User

7.3. Qatar

7.3.1. Qatar IoT Market by Component

7.3.2. Qatar IoT Market by End User

7.4. Kuwait

7.4.1. Kuwait IoT Market by Component

7.4.2. Kuwait IoT Market by End User

7.5. Egypt

7.5.1. Egypt IoT Market by Component

7.5.2. Egypt IoT Market by End User

7.6. Sudan

7.6.1. Sudan IoT Market by Component

7.6.2. Sudan IoT Market by End User

7.7. Rest of MENA

7.7.1. Rest of MENA IoT Market by Component

7.7.2. Rest of MENA IoT Market by End User

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/mena/enquiry/332

Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of MENA IoT.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2028.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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