In the recent time, boom in the higher end technology has beenwitnessed and the trend even been pacing at a very fast rate. IoT has developed fromthe convergence of wireless technologies, micro-electromechanical systems,microservices and the internet. IoT devices are based on the advancedautomation and analytics along with sensing, integrating, etc utilisingartificial intelligence technology for accomplishes services, or for makingintelligent products. These devices have a broader range of applications acrossthe different industries and have capability to enhance data collection,automation, operations etc empowering the competence of the entire system.
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The government support and initiative to adopt latest technology in theregion are the major factor bolstering the growth of the Saudi Arabia IoT device market. In addition, the rise in the volumeof the data generated through big data for optimising the overall productionprocess are driving the demand of IoT devices market in Saudi Arabia. Also, therise in the urban population base and increasing need of their upgraded technologicalsolutions for easing their lifestyles are driving the growth of the SaudiArabia IoT device market. However, data security and privacy concern arerestraining the IoT device market growth in Saudi Arabia. Also, the higher costassociated with the IoT devices are also acts as the restraining factor for themarket growth of the IoT device market in Saudi Arabia.
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Various notable players in the Saudi Arabia IoTmarket includes ORBCOMM, IBM Corporation, Oracle Corporation, CYBERIA GROUP,Nokia, SolutionDots Systems Ltd, SBR Technologies, Machinestalk, Intel,Microsoft Saudi Arabia etc.
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The Saudi Arabia IoT market has been segmentedon the basis of component and application. On the basis of component, market issegmented into processor, sensor and connected IC. Based on the applicationmarket is segmented into Indoor and Outdoor. Based on the end-user, the marketis categorized into Building and Automation, Smart Energy and Utilities, SmartManufacturing, Connected Logistics, Smart Retail, Connected Healthcare, SmartMobility and Transportation, Government and Defense, Agriculture, Banking andFinancial Services, and Others.
Key questions answered in thisresearch report:
· At what pace is the Saudi Arabia IoT market growing? What will be agrowth trend in the future?
· What are the key drivers and restraints in the current market? What willbe the impact of drivers and restraints in the future?
· What are the various application areas and how they are poised to grow?
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