Middle East and Africa IoT Market Growth, Size, Trends, Share, Revenue, Scope and Future Outlook
Middle East and Africa IoT Market Size- By Component, By End User Industry- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2024 | Report ID: IACT24103 | Pages: 1 - 154 | Formats*: |
| Category : Information & Communications Technology | |||
Middle East and Africa IoT Market Introduction and Overview
According to SPER Market Research, the Middle East and Africa IoT Market is estimated to reach USD 504.52 billion by 2033 with a CAGR of 27.81%.
The report includes an in-depth analysis of the Middle East and Africa IoT Market, including market size and trends, product mix, applications, and supplier analysis. A vast ecosystem of networked devices that can exchange, gather, and communicate data over the internet is known as the Internet of Things (IoT). IoT is everywhere in several areas of contemporary life, from industrial sensors monitoring factory machinery to smart thermostats controlling home temperatures. This connectivity makes automation, increased productivity, and improved user experiences possible. IoT devices, for example, can be used in the healthcare industry to remotely monitor patients' vital signs, allowing for timely interventions and individualized care. IoT sensors in agriculture can maximize crop yields and water conservation by optimizing irrigation schedules based on soil moisture levels.
- April 2021; The launch of Vodafone Idea's integrated IoT solution for the automotive industry was announced. The company's IoT portfolio was further strengthened with the launch of this product.
- April 2022; Arm Limited Unveiled Arm Cortex-M85 and Arm Cortex-A, two new solutions, in April 2022. The company will be able to provide customers with better solutions thanks to these new products and services, which will draw in new clients and quicken revenue growth.
Market Opportunities and Challenges
Opportunities: The Internet of Things (IoT) market is driven by a number of important variables. Innovation is fuelled by technological developments in sensors, connectivity, and data analytics, which also increase IoT capabilities. IoT solutions are becoming more affordable thanks to falling prices for connectivity services and hardware components. Adoption of automation to increase productivity and efficiency is fuelled by demand across industries. Decision-making based on data gives businesses insightful information. IoT is integrated into supply chains and manufacturing through Industry 4.0 initiatives. The development of smart cities, which use IoT to manage infrastructure, is fuelled by urbanization. The need for remote monitoring and control in energy, agriculture, and healthcare propels the adoption of IoT
Challenges: Several obstacles face the Internet of Things (IoT) market. IoT devices are vulnerable to data breaches and cyberattacks due to security vulnerabilities. Problems with interoperability impede smooth integration and communication between various platforms and devices. Sensitive information is gathered and processed, raising data privacy concerns that necessitate strong privacy protection measures. Scaling IoT deployments creates challenges for effective resource management and reliable performance. The complex web of hardware, software, and connectivity options makes deployment and decision-making procedures more difficult. Stability and dependability are crucial, especially for vital applications like transportation and healthcare.
Market Competitive Landscape
In the highly competitive Internet of Things (IoT) market, a wide range of players fight for supremacy in different industries. The major players in the market are ACACIA (UAE), Avnet (US), EPm AI Empowered Solutions (UAE), IOTPlus (UAE), iSAT Africa (Africa), iWire Global (UAE), Scope Middle East (UAE), Telit (US), Trinity (South Africa), Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By End-User Industry |
| Regions covered | Kingdom of Saudi Arabia, United Arab Emirates, Rest of Middle East & Africa |
| Companies Covered | ACACIA (UAE), Avnet (US), EPm AI Empowered Solutions (UAE), IOTPlus (UAE), iSAT Africa (Africa), iWire Global (UAE), Scope Middle East (UAE), Telit (US), Trinity (South Africa), Others |
COVID-19 Impact on Middle East and Africa IoT Market
The Internet of Things (IoT) market underwent significant changes due to the COVID-19 pandemic. It boosted industry-wide efforts at digital transformation and led to a rise in the use of IoT solutions for automation, remote monitoring, and contactless operations. IoT devices that enable telemedicine and remote patient monitoring saw a sharp increase in demand in the healthcare industry. Disruptions in the supply chain, however, had an effect on the manufacture and delivery of IoT devices. Customer behaviour shifts highlighted how crucial Internet of Things is for home automation and security. Certain industries encountered difficulties, but others saw an increase in the use of IoT for supply chain resilience and process optimization.
Key Target Audience:
- Industry Stakeholders
- Government Agencies and Policymakers
- Investors and Venture Capitalists
- Technology Providers and Solution Vendors
- Research and Academic Institutions
- Consulting Firms and Analysts
- Trade Associations and Chambers of Commerce
Our in-depth analysis of the Middle East and Africa IoT Market includes the following segments:
| By Component: |
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| By End-use Industry: |
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| By Region: |
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Key Topics Covered in the Report:
- Middle East and Africa IoT Market Size (FY’2024-FY’2033)
- Overview of Middle East and Africa IoT Market
- Segmentation of Middle East and Africa IoT Market By Component (Platform, Solution & Service)
- Segmentation of Middle East and Africa IoT Market By End-User Industry (BFSI, Retail, Government, Healthcare, Manufacturing, Agriculture, Sustainable Energy, Transportation, IT & Telecom)
- Statistical Snap of Middle East and Africa IoT Market
- Expansion Analysis of Middle East and Africa IoT Market
- Problems and Obstacles in Middle East and Africa IoT Market
- Competitive Landscape in the Middle East and Africa IoT Market
- Impact of COVID-19 and Demonetization on Middle East and Africa IoT Market
- Details on Current Investment in Middle East and Africa IoT Market
- Competitive Analysis of Middle East and Africa IoT Market
- Prominent Players in the Middle East and Africa IoT Market
- SWOT Analysis of Middle East and Africa IoT Market
- Middle East and Africa IoT Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Middle East and Africa IoT Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Middle East and Africa IoT Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Middle East and Africa IoT Market
7. Middle East and Africa IoT Market, By Component (USD Million) 2020-2033
7.1. Middle East and Africa IoT Market Size, Share and Forecast, By Component, 2020-20267.2. Middle East and Africa IoT Market Size, Share and Forecast, By Component, 2027-20337.3. Platform7.4. Solution & Service
8. Middle East and Africa IoT Market, By End-use Industry (USD Million) 2020-2033
8.1. Middle East and Africa IoT Market Size, Share and Forecast, By End-use Industry, 2020-20268.2. Middle East and Africa IoT Market Size, Share and Forecast, By End-use Industry, 2027-20338.3. BFSI8.4. Retail8.5. Government8.6. Healthcare8.7. Manufacturing8.8. Agriculture8.9. Sustainable Energy8.10. Transportation8.11. IT & Telecom
9. Middle East and Africa IoT Market, By Region, 2020-2033 (USD Million)
9.1. Middle East and Africa IoT Market Size and Market Share By Region (2020-2026)9.2. Middle East and Africa IoT Market Size and Market Share By Region (2027-2033)9.3. Kingdom of Saudi Arabia9.4. United Arab Emirates9.5. Rest of Middle East & Africa
10. Company Profile
10.1. ACACIA (UAE)10.1.1. Company details10.1.2. Financial outlook10.1.3. Product summary10.1.4. Recent developments10.2. Avnet (US)10.2.1. Company details10.2.2. Financial outlook10.2.3. Product summary10.2.4. Recent developments10.3. EPm AI Empowered Solutions (UAE)10.3.1. Company details10.3.2. Financial outlook10.3.3. Product summary10.3.4. Recent developments10.4. IOTPlus (UAE)10.4.1. Company details10.4.2. Financial outlook10.4.3. Product summary10.4.4. Recent developments10.5. iSAT Africa (Africa)10.5.1. Company details10.5.2. Financial outlook10.5.3. Product summary10.5.4. Recent developments10.6. iWire Global (UAE)10.6.1. Company details10.6.2. Financial outlook10.6.3. Product summary10.6.4. Recent developments10.7. Scope Middle East (UAE)10.7.1. Company details10.7.2. Financial outlook10.7.3. Product summary10.7.4. Recent developments10.8. Telit (US)10.8.1. Company details10.8.2. Financial outlook10.8.3. Product summary10.8.4. Recent developments10.9. Trinity (South Africa)10.9.1. Company details10.9.2. Financial outlook10.9.3. Product summary10.9.4. Recent developments10.10. Others
11. Conclusion
12. List of Abbreviations
13. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Middle East and Africa IoT Market is projected to reach USD 504.52 billion by 2033, growing at a CAGR of 27.81% during the forecast period.
Middle East and Africa IoT Market size from 2022. The Market is expected to reach USD 504.52 billion by 2033, at a CAGR of 27.81% during the forecast period.
Middle East and Africa IoT Market CAGR of 27.81% during the forecast period.
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Middle East and Africa IoT Market size is 504.52 billion from 2024 to 2033.
Middle East and Africa IoT Market Segment is covered By Component, By End-User Industry.
The MEA anticipated to have the highest market share in the Middle East and Africa IoT Market.
The key players in the market include Companies Covered ACACIA (UAE), Avnet (US), EPm AI Empowered Solutions (UAE), IOTPlus (UAE), iSAT Africa (Africa), iWire Global (UAE), Scope Middle East (UAE), Telit (US), Trinity (South Africa), Others .
"IoT sensors in agriculture can maximize crop yields and water conservation by optimizing irrigation schedules based on soil moisture levels.
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