Saudi Arabia IoT in Manufacturing Market to be Driven by Smart Manufacturing Initiatives by 2028
Government initiatives are
expected to increase the adoption rate of IoT in manufacturing, during the
forecast period of 2024-2028.
According to TechSci Research
report, “Saudi Arabia IoT in Manufacturing Market - Industry Size,
Share, Trends, Opportunity, and Forecast, 2018–2028,” the Saudi Arabia IoT
in Manufacturing market is expected to register a robust growth during the
forecast period, 2024-2028. Saudi Arabia has been making significant strides in
the field of smart manufacturing in recent years. The government has been
actively promoting the development of smart manufacturing by creating favorable
policies, investing in infrastructure, and providing support for research and
development. Saudi
Arabia IoT in Manufacturing market is forecast to register a robust CAGR during the forecast period
owing to increasing demand for connected devices and analytics, rising adoption
of cloud computing services, etc. Increasing use of business automation in
manufacturing is further fueling growth in the market and trend is expected to
gain more traction over the course of next five years.
IoT in the Manufacturing
Market results the increasing volume of data generated by big data analysis and
business intelligence, which leads to the collection of data that can optimise
overall production systems and processes. Moreover, digital transformations in
manufacturing due to new technologies such as IoT, Artificial Intelligence and
emergence of intelligent factories with machine-to-machine communications will
drive the growth of the market. Based on component, the service segment is
expected to lead the market due to the application of managed services in
deploying IoT based on consumer preferences. Based on the vertical, the energy
and utilities segment is anticipated to hold the largest market share owing to
applications like process optimization, plant automation.
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Saudi Arabia IoT in Manufacturing market is growing owing to the rising
demand for industrial internet of things (IIoT), increasing adoption of smart
sensors and beacons, growing adoption of IoT in supply chain, favorable
government initiatives and rise in demand for analytics. Moreover, increasing
penetration of IoT in various applications like energy & utilities, oil
& gas, etc., is further pushing its demand in the country. Additionally,
surge in cloud platform adoption, advent of advanced data analytics and
development of wireless networking technologies is likely to propel Saudi
Arabia IoT in manufacturing market during forecast period.
Saudi Arabia IoT in manufacturing market can be broadly segmented into
component, application area, vertical, region and competitive landscape. Saudi Arabia
IoT in manufacturing market is expected to grow in the coming years due to its
capacity to make the manufacturing process smoother and more organized. These
IoT solutions lead to growth in business and ease of manpower. Industries are
now recognizing the need for smart sensors along with connectivity and data
storage that can allow personal protective equipment to offer better health and
safety. The smart IoT solutions for manufacturing units that help maximize
productivity and automate all processes in the manufacturing are expected to
boost the Saudi Arabia IoT in manufacturing market.
Asset tracking
and management is the leading application area for the Saudi Arabia IoT in
manufacturing market. Increasing adoption of IoT across different end user
verticals in Saudi Arabia is resulting in rising need for asset tracking and
management. To meet the dynamically changing demand from the end users, asset
tracking and management is playing a crucial role in Saudi Arabia IoT in
manufacturing market. Energy & Utilities vertical leads the IoT in
manufacturing market in Saudi Arabia and is expected to continue its dominance
over the forecast period on account of increasing integration of IoT for
various applications such as asset tracking, process optimization, predictive
maintenance, etc., which helps to reduce sudden machine failure.
The Kingdom has
ambitious modernization plans for all its major cities, as well as religious
cities like Mecca and Medina. The 'Vision 2030' has enabled the realization of
numerous projects, including the development of roadways, railways, and
airports. The Kingdom has set aside billions of dollars for these projects and
plans to integrate intelligent services. This is expected to provide a
significant boost to IoT in Manufacturing.
Key market
players pin the Saudi Arabia IoT in Manufacturing market:
- Etihad Etisalat
Co. (Mobily)
- Saudi Telecom
Company (STC)
- Saudi Business Machines
Ltd. (SBM)
- Zain KSA
- Cisco Saudi
Arabia
- Siemens KSA
- Saudi Oracle Ltd.
- Seidor
- MachinesTalk
- General Electric
Saudi Arabia
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“The demand for IoT in manufacturing
is anticipated to grow during the forecast period owing to rising investments
in industry 4.0. Among verticals, the automotive segment is projected to grow
at an impressive rate on the back of increasing adoption of smart sensors and
beacons. Moreover, increasing demand for handling challenges such as data
privacy & security issue, inconsistent network availability, etc., along
with increasing investment by the Saudi Arabia government on industry 4.0 and
Adoption of 5G is further promoting the growth of IoT in manufacturing in Saudi
Arabia” said, Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
“Saudi Arabia IoT in Manufacturing
Market By Component (Solutions, Services and
Platform), By Application Area (Predictive Maintenance, Business Process
Optimization, Asset Tracking & Management, Logistics & Supply Chain
Management, Real-Time Workforce Tracking & Management, Automation Control
& Management, Emergency & Incident Management, and Business
Communication), By Vertical (Energy & Utilities, Automotive, Food &
Beverages, Aerospace & Defense, Chemicals & Materials, High-Tech
Products, Healthcare, Others), By Region, Competition Forecast and
Opportunities, 2028,” has evaluated the future growth potential
of Saudi Arabia IoT in Manufacturing Market and provides statistics &
information on market size, 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 Saudi Arabia IoT in Manufacturing market.
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