Saudi Arabia Internet of Things (IoT) Market

The IoT is a infrastructure of multiple machines, devices and applications that are connected to the internet through various networks which helps businesses to transform their operations. Enterprises adopted IoT solutions in the kingdom across industry sectors such as energy, education, healthcare, smart manufacturing, among other others. The key benefits offered by adopting IoT are safey and security, Real-Time Analytics, Enhanced Productivity, Enhanced Customer Service, Improved Asset Management and Cost Optimization.

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Saudi Arabia IoT market is driven by the increasing penetration of internet services among end-use sectors, growing near future communications demand and rising adoption of advance technologies like Zigbee and cloud-based services. The government is focussing on expanding internet infrastructure capacity under vision 2030. Moreover, increasing government focus on building metropolitan areas in the cities such as Riyadh, Jeddah, Mecca and Medina is expected to boost the IoT industry in Saudi Arabia. Increased government investment on various projects like NEOM, Saudi Vision 2030, Qiddiyah entertainment city and growing LPWAN and 5G deployments to control traffic in the cities of Mecca and Medina will further propel the market growth in near future. Increasing use of Wifi and Bluetooth services for the networking purposes along with the rapid development of wireless technologies such as 5G also fuels the growth of the IoT market.

IoT solutions are implemented by various industries such as automotive, transportation & logistics, manufacturing, retail, healthcare, among others and projected to provide further benefits to enterprises by adoption of IoT technologies. In addition, major factors such as customer experience improvement, enhanced security customer focus, cost efficiencies, and improved production efficiency which encouraged enterprises to adopt IoT solutions in the Saudi Arabia. However, lack of technical expertise for handling the infrastructure will hinder the growth of Saudi Arabia IoT market during the forecast period.

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Based on end-use, Retail segment is expected to grow at the fastest rate over the forecast period due to the increasing adoption of IoT in retail sector. IoT provides benefits such as in-store navigation, efficient management of energy, customer engagement and also helps in improving customer experience, will further boost the retail segment growth.

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Major players of the Saudi Arabia IoT are focusing on expanding their customer base across the globe by leveraging on the strategic collaborative, joint venture, and partnership to increase their market share and their profitability. Various notable players operating in the Saudi Arabia Internet of Things market include IBM Corporation, Intel Corporation, ZTE Corporation, Huawei Technologies Co. Ltd., Oracle Corporation, Cisco Systems Inc., Honeywell International Inc., and Siemens among others.

Key Market Developments:

• • In 2023, Disrupt-X signed an strategic agreement with ABM, part of Olayan Saudi Holding Company to provide IoT smart business solutions for its clients in the Saudi Arabia.
  • In 2023, IoT Squared, IOT technology company signed and MoU with OQ Technology for IoT connectivity using 5G protocol. OQ Technology will provide IoT connectivity product and services to IoT Squared and to provide technical support of its product and services. In addition, both the companies planned to identify target markets that need satellite IoT services across the Saudi Arabia and to provide necessary solutions.
  • In 2023, Siemens collaborated with the DETASAD to provide Siemens industrial IoT as a service solution in the Saudi Arabia. Through this expansion, both the companies planned to bring IIoT ecosystem in the Saudi Arabia market.
  • In 2023, China Telecom Global signed and MoU with STC Group of Saudi Arabia to strengthen the IoT industry in the kingdom. The companies aimed to enable the advancement of connected transportation and vehicles in the next generation by using their IoT services and expertise.
  • In 2019, ZTE Corporation introduced 5G-NB-IOT based shared air conditioner centralized control standard. This standard states the technical requirements of the centralized control of the shared air conditioner.
  • In 2018, Huawei and the Ministry of Communications and Information Technology joins together to launch the first IoT Lab and planned to invest USD 1 million to support Saudi entrepreneurs.

Saudi Arabia Internet of Things (IoT) Market has been segmented on the basis of category and end-use. Based on category, the market is segmented into device hardware, systems integration, software solutions and network connectivity. Based on end-use, the market is segmented into manufacturing, automotive, agriculture, retail, healthcare, transportation and logistics and others.

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Key questions answered in this research report:

• • At what pace is the Saudi Arabia Internet of Things market growing? What will be the trend in growth in the future?
  • What are the key restraints and drivers in the current market? What will be the impact of drivers and restraints in the future?
  • What are the various application areas of Saudi Arabia Internet of Things market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

Saudi Arabia IoT Market by Category

• • Device Hardware
  • Systems Integration
  • Software Solutions
  • Network Connectivity

Saudi Arabia IoT Market by End-Use

• • Manufacturing
  • Automotive
  • Agriculture
  • Retail
  • Healthcare
  • Transportation and Logistics
  • Others

Leading market players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM Corporation
  • Intel Corporation
  • ZTE Corporation
  • Honeywell International, Inc.
  • Huawei Technologies Co. Ltd.
  • Oracle Corporation
  • Cisco Systems Inc.
  • Siemens AG
  • SAP Saudi Arabia Software Services Co. Ltd.
  • Microsoft Saudi Arabia