Middle East & Africa IoT Engineering Services Market by Service (Product Engineering, Cloud Engineering, Experience Engineering, Security Engineering & Others), By End User (BFSI, Automotive, Aerospace & Defense, Healthcare, Transportation & Logistics, IT & Telecom, Industrial Manufacturing, Others), By Country, Competition, Forecast and Opportunities, 2018-2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMiddle East & Africa IoT Engineering Services Market by Service (Product Engineering, Cloud Engineering, Experience Engineering, Security Engineering & Others), By End User (BFSI, Automotive, Aerospace & Defense, Healthcare, Transportation & Logistics, IT & Telecom, Industrial Manufacturing, Others), By Country, Competition, Forecast and Opportunities, 2018-2028F
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 3.01 Billion |
| CAGR (2023-2028) | 23.71% |
| Fastest Growing Segment | Cloud Engineering |
| Largest Market | United Arab Emirates |
Market Overview
Key Market Drivers
Increasing Demand for Smart City Solutions
Industrial Automation
Precision Agriculture and IoT Adoption
Healthcare Advancements through IoT
Key Market Challenges
Limited IoT Adoption in Some Regions
Limited Infrastructure
Regulatory Barriers
Economic Disparities
Security Concerns and Data Privacy
Cybersecurity Threats
Data Privacy Regulations
Lack of Skills and Expertise
Consumer Trust
Key Market Trends
Edge Computing Integration in IoT Solutions
Growth in IoT-Driven Agriculture and Agribusiness
Focus on IoT Cybersecurity and Data Privacy
Segmental Insights
Service Insights
End User
Based on End User, the BFSI emerged as the dominant segment in the Middle East & Africa IoT (Internet of Things) engineering services market, and it is poised to maintain its leadership position throughout the forecast period. This prominence underscores the sector's recognition of the transformative potential of IoT technologies in revolutionizing financial services and enhancing customer experiences. IoT applications in BFSI encompass a wide range of use cases, from real-time monitoring of financial transactions and ATM networks to the implementation of smart banking branches and secure IoT-driven authentication methods. These innovations not only drive operational efficiency but also bolster security, risk management, and customer engagement, making them indispensable in the highly competitive financial landscape of the MEA region. As the BFSI sector continues to harness IoT engineering services to gain a competitive edge, optimize processes, and deliver innovative financial products and services, it is well-positioned to maintain its leadership role, shaping the direction of IoT adoption and innovation within the MEA region's financial industry.
Regional Insights
Recent Developments
- In February 2023, EITC, a prominent integrated telecommunicationsservices provider in the United Arab Emirates (UAE), unveiled its strategicdecision to acquire Ducab, a leading provider of electrical and digitalsolutions within the UAE. This acquisition marks a significant move for EITC,as it aims to bolster its IoT (Internet of Things) capabilities and cater tothe burgeoning demand for IoT solutions in the region. By joining forces withDucab, EITC intends to tap into Ducab's expertise in electrical and digitalsolutions to enhance its IoT offerings. This strategic synergy reflects EITC'scommitment to remaining at the forefront of technological innovation andmeeting the evolving needs of businesses and consumers in the UAE, positioningthe company as a formidable player in the rapidly expanding IoT landscape.
- In March 2023, the renowned German multinational software corporationSAP revealed its strategic move to acquire Mindtree, a prominent Indian providerof digital engineering and technology services. This acquisition signifies apivotal step for SAP, as it seeks to broaden its horizons in the realms of IoT(Internet of Things) and cloud technologies. Through the integration ofMindtree's expertise and capabilities, SAP aims to strengthen its position inthe IoT landscape while also fortifying its cloud offerings. This strategicalignment is set to empower SAP's customers by providing them with enhancedtools and resources to seamlessly develop and implement innovative IoTsolutions. By bringing together their collective strengths, SAP and Mindtreeare poised to usher in a new era of technological advancements, furthersolidifying their standing as leaders in the global digital solutions arena.
Key Market Players
- IBM Corporation
- EricssonAB
- AccentureMiddle East B.V.
- SiemensAG
- MicrosoftCorporation
- CiscoSystems, Inc.
- SAPSE
- HoneywellInternational Inc.
- SchneiderElectric SE
- Bosch.IO
| By Service | By End User | By Country |
|
|
|
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy