Saudi Arabia Internet-of-Things Market Forecast, 2021-2026

Description

This IDC Market Forecast provides an update on IDC's IoT market outlook and five-year forecast for Saudi Arabia, based on the Worldwide Internet of Things Spending Guide (May 2022). In this study, IDC focuses on the major drivers and inhibitors of IoT market growth in the kingdom over the 2022-2026 forecast period, as well as significant recent changes in the market landscape. IDC further identifies the top verticals in terms of IoT spending, leading use cases, organizations' planned IoT investments, and technology utilization related to IoT device connectivity. "The pandemic underscored the need for digital transformation among organizations, making it an essential element for business continuity. IoT is an important component of many Saudi organizations' transformation strategies, as it enables organizations to automate and optimize production processes and cut operational costs." - Research Analyst Jawairia Asif, IoT and Telecom Services, IDC Saudi Arabia

Product Code: META49552222

IDC Market Forecast Figure

Executive Summary

Advice for Technology Suppliers

Forming an IoT Partner Ecosystem
Investing in IoT-Driven Enterprise Solutions
Developing Required Skills for IoT Solutions
Aligning IT and OT Stakeholders
Exploring New Opportunities Created by the Pandemic

Market Forecast

Saudi Arabia IoT Market Spending
Saudi Arabia IoT Spending by Top 5 Industries
Industry Overview
Transportation
Retail
Discrete Manufacturing
Utilities
Process Manufacturing
Pandemic Impact

Market Context

Drivers and Inhibitors
- Drivers
  - Accelerating Digital Infrastructures in Saudi Arabia
  - Industry 4.0 Initiatives
- Inhibitors
  - Reluctance to Adopt Technology
  - Security - A Major Barrier to IoT Implementation
  - Budgetary Constraints
Significant Market Developments
- Mobily and Cisco Accelerate Saudi Arabia's Digitization Efforts with Largest IoT Cloud Platform in Region
- Zain Launches 5G Standalone Network
- Saudi Arabia Launches Smart City Project for Light Industries
- Eram Strikes Deal with DMI Wibes
- Saudi Aramco and Aveva to Partner to Drive Sustainability Through Digitalization
- Saudi Aramco, STC, and Huawei to Study 5G Uses in Oil and Gas
- Saudi Arabia CITC Opens Public Consultation on IoT Regulations
- Saudi Arabia's PIF Partners with STC to Launch an IoT Company
Changes from Prior Forecast