Research Report on IoT Market in GCC-2028

 Infinium Global Research’s recent report on the “GCC IoT Market (By Component – Hardware, Software/Platform, Connectivity, and Services; By End User – Transportation, Healthcare, Retail, Energy and Utilities, Residential, Government, Insurance, and Other): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028” provides a comprehensive outline of the factors responsible for the growth of the market. The GCC IoT market was valued at about USD 10 billion in 2022 and is expected to reach nearly USD 25 billion in 2028, with a CAGR of over 17% during the forecast period.

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"We are Now Including the Impact Analysis of COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2023-2030." 

The Section on the Impact of COVID-19 on this Market is Included in the Report for Free.

IoT is a network of internet-connected objects. These objects collect and exchange data using sensors embedded within them. IoT has combined hardware and software with the internet to create a more technically-driven environment. The Internet of Things technology helps in connecting various smart devices together to ease the operation and sharing of data amongst themselves. There are various smart devices, such as sensors, smartphones, and wearables, which collect necessary data from the devices which are further utilized to enhance customers’ experience. The increasing need for data analysis and integration of analytics is expected to propel the utilization of the Internet of Things market over the forecast period.

Furthermore, IoT technology is being used to fight against coronavirus. Healthcare officials are working relentlessly to provide the right services to protect citizens from coronavirus. Nowadays, hospitals have started utilizing connected thermometers to monitor patients and staff. The Shanghai Public Health Clinical Center (SPHCC) and seven other hospitals across China are presently utilizing temperature sensors to monitor COVID-19 patients to reduce staff risks at the hospital.

Retail Segment is Expected to Account for the Highest Market Share During the Forecast Period

The retail industry is witnessing substantial growth in the last few years, especially with the enormous expansion of the e-commerce industry, across the region. Therefore, retailers are not only utilizing IoT solutions to increase their operational efficiency but also augment the customer experience to gain competitive advantages. Consequently, the reduced cost of IoT-based sensors and connectivity, customer demand for a better shopping experience, and the growing adoption of smart payment solutions are some of the major factors pouring into the adoption of IoT solutions in the studied segment.

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The UAE IoT Market is Projected to Grow at the Highest CAGR During the Forecast Period

Geographically, UAE generated the largest revenue in the IoT market in 2019 and is expected to continue its dominance over the forecast years. Furthermore, technological advancement, increasing penetration of cloud-platform along with growing demand for machine intelligence, and surging adoption of various wearable technology applications are accelerating the IoT market growth in UAE. Moreover, the factors responsible for driving the growth of the Internet of Things market in Saudi Arabia include the increased focus of the government to build metropolitan areas, especially in the cities of Riyadh, Jeddah, Mecca, and Medina, and a rise in the number of projects such as NEOM, Saudi Vision 2030, Qiddiyah entertainment city and growing LPWAN and 5G deployments to control traffic in the holy cities of Mecca and Medina are leading to an increase in demand for the IoT in the market during the forecast period.

Companies Operating in GCC IoT Market are Adopting Numerous Key Business Strategies

Major players of the GCC IoT are focusing on expanding their customer base across the globe by leveraging on strategic collaborative, joint ventures, and partnerships to increase their market share and their profitability. For instance, in Oct 2019, Emirates Integrated Telecommunications Company du entered into a partnership with Wipro to increase its purpose-built Internet of Things (IoT) identity and access management platform for the UAE. This partnership focuses to address the threat by securing devices and data along with policy-driven credential management and end-to-end data encryption. Numerous notable players operating in the GCC IoT market include AT&T, Inc., ZTE Corporation, Intel Corporation, IBM Corporation, Huawei Technologies Co., Ltd., Oracle Corporation, Google LLC, and GSM Association, among others. Key players are introducing new products to strengthen their position in the market. For example, in 2019, ZTE Corporation introduced 5G-NB-IOT based shared air conditioner centralized control standard. This standard shows the technical requirements of the centralized control of the shared air conditioner.

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Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of the GCC iot.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and market size forecast 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 to invest, consolidate, expand and/or diversify.