MENA Industrial IoT Market: Current Analysis and Forecast (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.

On the basis of component, the market is segmented into hardware, software, and services. 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.

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.

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.

For a better understanding of the market adoption of the MENA Industrial IoT industry, the MENA market is analyzed based on its worldwide presence in countries such as UAE, Saudi Arabia, Egypt, Iran, and the Rest of MENA. 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.

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.