Saudi Arabia IoT Device Market Share, Size & Forecast 2027

 

Saudi Arabia IoT Device Market

The Saudi Arabia IoT Device Market is estimated to grow at a higher CAGR over the forecast period (2020-2027).

The factors driving the growth of Saudi Arabia IoT Device Market includes increasing penetration of smartphone and wearable devices in Saudi Arabia, improvements in the internet connectivity, rising popularity of 5G Technology and expansion of the IT & telecom industry. According to the report published by Airnow Data, around 80.7% people in the Kingdom of Saudi Arabia used smartphones in 2019 and this figure is expected to increase to 24 million by 2022, with total population being 30 million, which will boost the market growth in the approaching years. Moreover, the growing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) by major corporations and rising attraction amongst consumers about smart parking and smart lighting solutions, are some of the additional factors supplementing the market growth. In addition, the increase in Government’s budget to build smart cities, rising investments by leading players on research and development, rapid urbanization, and growing population growth rates, are further propelling the Saudi Arabia Internet of Things (IoT) Market size.

However, the growth of Saudi Arabia IoT Device Market is hindered due to lack of technical expertise to handle the IoT infrastructure.

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The major players operating in the Saudi Arabia IoT Device Market are ZTE Corporation, Huawei Technologies Co. Ltd., Oracle Corporation, IBM Corporation, Intel Corporation, Cisco Systems Inc., Honeywell International Inc., SAP Saudi Arabia Software Services Co. Ltd., Microsoft Saudi Arabia, and Siemens AG, among others.

Application: Segment Analysis

Based on Application, the Smart Retail segment is estimated to expand at a significant CAGR during the forecast period attributed to increasing application of Internet of Things (IoT) solutions in the retail sector to improve the customer experience.

Node Component: Segment Analysis

Based on Node Component, the Sensor segment is predicted to grow at a remarkable CAGR over the forecast period. The internet of things-based sensors helps in monitoring data, saves money, prevents cyber-attacks and these sensors can also be connected to cloud through Wi-Fi and Bluetooth, are the major factors responsible for the segment’s growth.

Network Infrastructure: Segment Analysis

Based on Network Infrastructure, the Gateway segment is anticipated to capture a sizeable market share during the forecast period. IoT gateways helps to connect to the Cloud, filters data, translates communication between different IoT devices, mitigates risk and provides intelligence at the edge, are some of the features augmenting the growth of the segment.

Market Segmentation

Saudi Arabia Internet of Things Market by Component

  • Software
  • Services
  • Platform

Saudi Arabia Internet of Things Market by Software

  • Real Time Streaming Analytics
  • Security Solution
    • Identity Access Management
    • Data Encryption and Tokenization
    • Secure Communications
    • Distributed Denial of Service Protection
      o Others
  • Data Management
    • Customer Data
    • Product Data
    • Supplier Data
    • Location Data
    • Asset Data
  • Remote Monitoring Systems
  • Network bandwidth management
    • Standalone Network Management
    • Bundled Network Management

Saudi Arabia Internet of Things Market by Services

  • Professional service
    • Deployment and Integration
    • Support and Maintenance
    • Consulting Service
  • Managed Service

Saudi Arabia Internet of Things Market by Platform

  • Device Management
  • Application Management
  • Network Management
  • Cloud Platform

Saudi Arabia IoT Market by Node Component

  • Processor
  • Sensor
  • Connectivity IC

Saudi Arabia Internet of Things Market by Network Infrastructure

  • Server
  • Storage
  • Ethernet Switch and Routing
  • Gateway

Saudi Arabia Internet of Things Market by Application

  • Building and Automation
  • Smart Energy and Utilities
  • Smart Manufacturing
  • Connected Logistics
  • Smart Retail
  • Healthcare
  • Smart Mobility and Transportation
  • Government and Defense
  • Agriculture
  • Banking and Financial Services
  • Others

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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