Project Description

Market Assessment for IoT (Internet of Things) Technology in UAE

  • The IoT market in the UAE is expected to continue to grow at healthy growth of 12% for next five years. The growth is driven by government policy support, UAE firms keen to invest in IoT and overall positive economic output
  • In 2017 Dubai Government launched Internet of Things (IoT) strategy and Data Wealth Initiative to protect Dubai’s digital wealth, encourage government departments to join the emirate’s smart transformation, and achieve the objectives of the Smart Dubai Plan 2021 to transition to a 100% paperless government
  • Global IoT players and large UAE based IoT players account for more than 90% of the IoT market in the country. This is mainly driven by preference of government agencies and large corporates to work with large established players
  • Hybrid model is the most prevalent IoT delivery model in the UAE. Local large companies benefit from technology transfer whereas global companies get access to the large market
  • Government contracts account for almost 25% of the end-segments. Automotive and industrial segments together account for more than 50% of the IoT market demand

Table of Content:

Macro Overview of UAE

  • Macro overview of UAE: GDP, sector-wise breakdown of GDP, unemployment and inflation
  • % GDP contribution by construction, IoT sector
  • Review, analyze and forecast demographic indicators, including:
    • Population size, distribution by region, gender and age, nationality etc.
    • Population growth rate
  • Analyze economic drivers and risks affecting the IoT industry at large
    • g., improvement in oil prices fueling the GDP growth momentum

Brief Overview of UAE ICT sector

  • Local addressable market (USD Mn) in 2023 and forecast 2023-28
  • Major IoT components driving growth: Cyber security, Software, Hardware, Internet of things (IoT), Artificial intelligence, Big Data & cloud services
  • Major IoT application industries in the UAE
  • Recent drivers and trends observed in IoT sector e.g.
    • UAE ICT Fund to enhance innovative research & development projects within the UAE ICT sector
    • The UAE Strategy for Artificial Intelligence (AI) 2031
    • IoT focused free trade zones

Market Size, Segmentation & Outlook

  • IoT Technology and systems: Definition & key product / service segments (will be proposed and agreed with client during the kick-off stage)
  • Market size: current and forecast growth (2023-2028F)
  • Market segmentation (2023) based on various categories:
    • Service type: Deployment, integration professional services (professional vs managed)
    • Type of platform: device management (authenticating, configuring, monitoring, provisioning, and maintaining software), application management and network management
    • Component: Hardware, software
    • Applications: Consumer Electronics, Smart mobility / transportation, building and home automation, smart retail, etc.
  • Key market drivers during the forecast period
    • Smart cities concept introduced by UAE government
    • Rapid implementation of connected devices in various sectors such as energy, infrastructure, healthcare, transportation, and other utility sectors
    • Increasing penetration of cloud and AI in UAE markets
    • Dubai autonomous strategy
    • Availability of high-speed internet connectivity and increasing household internet penetration
  • Key industry challenges e.g., data security and privacy concerns

Competition Overview

  • List of major competitors in the UAE by type of product / service offering.
  • Top 10-12 player identification across offering segments and categorization as:
    • Component provider (e.g., processor, sensor, IC)
    • Service provider (professional, managed)
    • Software providers (for security, data management, remote monitoring, bandwidth management)
    • Network infrastructure provider (server, storage, switch, gateway)

Competition profiles (5-6 major players)

  • Business overview: Location(s), # of people, Vintage
  • Ownership structure (public / private / partnership); foreign vs local
  • Management overview: CXO profiles
  • Product / service portfolio
  • Brand strength
  • Type of end markets / applications served
  • Clientele overview* (key clients)
  • Geographical reach
  • Partnerships / tie Ups with local / international players
  • Sales and distribution network / strategy
  • Financials*: Revenue, revenue growth (over the past 5 years)

*On best effort basis considering confidential nature of the information