Egypt IoT in Manufacturing Market to grow at a Significant Rate through 2026
Increasing demand for
real-time asset monitoring and the digital transformation of industries is expected
to drive the demand for Egypt IoT in Manufacturing market in the forecast
period.
According to TechSci Research report, “Egypt
IoT in Manufacturing Market By Component (Solutions, Services and
Platforms) By Application (Predictive Maintenance, Business Process
Optimization, Asset Tracking & Management, Logistics & Supply Chain
Management, Real-Time Workforce Tracking & Management, Automation Control
& Management, Emergency & Incident Management, Business Communication)
By End-Use Industry (Energy & Utilities, Automotive, Food & Beverages,
Aerospace & Defense, Chemicals & Materials, Consumer Electronics,
Healthcare, Others), By Region, Company Forecast & Opportunities, 2026”,
The Egypt IoT in Manufacturing market is expected to witness significant growth
in the forecast period. The growing use of automation in the manufacturing
units reduces the chances of human error, lowers the labor cost and other
associated expenses which in turn is influencing the growth of the IoT in
manufacturing market. The expected roll-out of 5G technology and the growing
internet penetration is enabling the local manufacturers to adopt the IoT
solutions. Market players are investing huge amounts for technological
up-gradation to improve the speed, flexibility, capacity, and reliability of
the manufacturing process. IoT solutions collect the critical metrics,
visualize the data in real-time, and aids in optimizing the results in the
manufacturing units.
The COVID-19 outbreak across the world which has been
declared as a pandemic by World Health Organization has affected several
countries adversely. Coronavirus-affected patients started suffering from
shortness of breath along with coughing and sneezing. Leading authorities in
Egypt imposed lockdown restrictions and released a set of precautionary
measures to contain the spread of novel coronavirus. Manufacturing units were
temporarily shut down and the shortage of workers led to the market decline.
Disruption in the supply chain was observed which adversely affected the supply
of raw materials. These factors are negatively impacting the growth of the IoT
in manufacturing market.
However, rising security and privacy concerns may
restrain the growth of the IoT in Manufacturing market in the forecast period.
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Egypt IoT in Manufacturing Market is segmented into component,
application, end-use industry, regional distribution, and company. Based on the
component, the market can be divided into solutions, services, and platforms.
The solutions segment is expected to witness growth in the forecast period,
2022-2026. To increase the throughput and improve the manufacturing process the
major players are deploying IT solutions in their industries. IoT in
manufacturing solutions helps organizations automate their overall process and
improve product quality. The adoption of solutions in the organization aids in
reducing the infrastructure and operational costs and managing the end-to-end
life cycle of their assets. Based on the solutions, the market can be divided
into network management, data management, device management, application
management, and smart surveillance. The smart surveillance segment is expected
to witness the highest growth in the forecast period. Organizations are
employing solutions to safeguard their assets and people. Smart surveillance
system increases the visibility and provides the facility of the live video
surveillance system. It can also provide the facilities like asset tracking,
asset recovery, intrusion detection, real-time monitoring, amongst others.
Cisco,
Valeo, Spime Sense Lab, Telecom Egypt, IBM, Accenture, SAP, Nokia, Ericsson,
Honeywell, Fujitsu, Microsoft, Etisalat, Oracle, Huawei are the leading players
operating in Egypt IoT in Manufacturing market. Service providers are
increasingly focusing on research and development process to fuel higher growth
in the market. To meet evolving customer demand with respect to better
efficiency and durability, several IoT in Manufacturing service providers are
coming up with their technologically advanced offerings.
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“Supportive
government policies and initiatives to achieve Vision 2030 and develop Egypt as
a sustainable technologically industrialized hub are expected to create
lucrative opportunities for market growth. The growing adoption of industry 4.0
which provides the informed supply chains that are cost-effective in prominent
industry verticals including electronics, leather, textiles, furniture,
chemicals, amongst others is expected to fuel the demand of IoT in the
manufacturing market. The growing industrialization and the high-end
investments by the market players are expected to propel the growth of the IoT
in manufacturing market in the forecast period, 2022-2026.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
“Egypt IoT in
Manufacturing Market By Component (Solutions, Services and Platforms) By
Application (Predictive Maintenance, Business Process Optimization, Asset
Tracking & Management, Logistics & Supply Chain Management, Real-Time
Workforce Tracking & Management, Automation Control & Management,
Emergency & Incident Management, Business Communication) By End-Use
Industry (Energy & Utilities, Automotive, Food & Beverages, Aerospace
& Defense, Chemicals & Materials, Consumer Electronics, Healthcare,
Others), By Region, Company Forecast & Opportunities, 2026” has
evaluated the future growth potential of Egypt IoT in Manufacturing market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of Egypt IoT in
Manufacturing market.
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