Emphasis on Component (Hardware, Software, and Services); Application (SCADA, PLM, Distribution Management System, Remote Patient Monitoring, and Others); and End-Use Industry (Manufacturing, Transportation, Oil & Gas, Healthcare, Utility, and Others); Country
The MENA Industrial IoT Market was valued at 17.8 billion in 2022 and is expected to grow at a steady rate of around 15.5 % in the forecasted period (2023-2030). The Industrial Internet of Things (IIoT) refers to the interconnection of industrial devices and systems through the internet to enable data collection, exchange, and analysis. This interconnectedness empowers industries to monitor, control, and optimize their processes in real-time, leading to improved productivity and reduced costs. The MENA Industrial IoT Market is expected to grow at a strong CAGR of 15.5% during the forecast period. The MENA region is an emerging market for Industrial IoTs, with countries like the United Arab Emirates (UAE), Saudi Arabia, Qatar, and Egypt leading the way in terms of infrastructure development. These countries have been investing heavily in building state-of-the-art Industrial IoTs to cater to the growing demand from various industries, including finance, telecommunications, healthcare, and government sectors.
Some of the major players operating in the market include ABB, General Electric, IBM Corporation, Intel Corporation, Rockwell Automation, Inc, Siemens, Microsoft, Cisco Systems, Inc, NEC Corporation, and KUKA AG.
Insights Presented in the Report
“Amongst component, the hardware segment held significant growth in the 2022.”
On the basis of component, the market is segmented into hardware, software, and services. The hardware segment led the market in 2022, driven by the increasing demand for sensors (like temperature and pressure sensors), industrial robots for automated tasks, and communication gateways for data transmission. This dominance is expected to continue in the near future due to ongoing investments in infrastructure development and industrial automation projects. However, the software segment is anticipated to witness the fastest growth rate due to the rising need for data analytics platforms, Industrial IoT application development, and device management solutions. Services, on the other hand, encompass integration, deployment, and maintenance of Industrial IoT solutions, and this segment is expected to grow steadily as companies seek expert assistance in navigating the complexities of Industrial IoT implementation.
“Amongst application, the SCADA segment held a significant growth in the market. ’’ On the basis of application, the MENA industrial IoT market is segmented into SCADA (Supervisory Control and Data Acquisition), PLM (Product Lifecycle Management), Distribution Management Systems, remote patient monitoring, and others. The SCADA segment led the market in 2022 due to its wide adoption in various industries like oil & gas, power generation, and manufacturing. For instance, SCADA systems are used to monitor pipelines in the oil & gas industry, allowing for real-time data on pressure, flow rates, and potential leaks, enabling for preventive maintenance and improved operational efficiency.
“Amongst end-user industry, the manufacturing segment held a significant growth in the market. ’’ On the basis of the End-Use Industry, the market is segmented into Manufacturing, Transportation, Oil & Gas, Healthcare, Utility, and Others. The manufacturing segment led the MENA Industrial IoT market in 2022, driven by factors like increasing demand for automation, production efficiency, and quality control. For example, companies in the automotive manufacturing sector are adopting Industrial IoT solutions to track assembly lines, monitor machine health, and optimize production processes. This allows for faster turnaround times, reduced downtime, and improved product quality.
“Saudi Arabia has significant share in the MENA Industrial IoT market in 2022.”
Saudi Arabia led the market in 2022. Saudi Arabia’s Industrial IoT market is rapidly growing and diversifying. Also, the Saudi Arabian government’s Vision 2030 plan heavily emphasizes industrial diversification and technological advancement, which fuels the growth of Industrial IoT. Industries like oil & gas and manufacturing are increasingly adopting Industrial IoT for predictive maintenance, remote monitoring, and optimizing operations.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Mena Industrial Iot Market Covid-19 Impact
6. Mena Industrial Iot Market Revenue, 2022-2032f
7. Market Insights By Component
8. Market Insights By Application
9. Market Insights By End-use Industry
10. Market Insights By Country
11. Industrial Iot Market Dynamics
12. Industrial Iot Market Opportunities
13. Industrial Iot Market Trends
14. Demand And Supply-side Analysis
15. Regulatory Framework
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA Industrial IoT market were the three major steps undertaken to create and analyze the adoption of Industrial IoT in MENA region. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA Industrial IoT market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MENA Industrial IoT market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the MENA Industrial IoT market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report like Component, Application, and End-User Industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA Industrial IoT market. Further, we conducted factor analysis using dependent and independent variables such as increasing demand for renewable energy. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA Industrial IoT market.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA Industrial IoT market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets in MENA. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Key Stakeholders of Industrial IoT Market in the MENA Region
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA Industrial IoT market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of vehicle Component, Application, and End-User Industry in the MENA Industrial IoT market.
The main objective of the MENA Industrial IoT Market Study
The current & future market trends of the MENA Industrial IoT market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the MENA Industrial IoT market?
Q2: What are the driving factors for the growth of the MENA Industrial IoT market?
Q3: Which segment has the largest share of the MENA Industrial IoT market by component?
Q4: Which country will have significant growth in the MENA Industrial IoT Market?
Q5: Who are the key players operating in the MENA Industrial IoT market?
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