Rise in the disposable income and the improvement in the economic conditions is expected to drive the demand for Egypt IoT market in the forecast period.
According to TechSci Research report, “Egypt IoT Market By Component (Hardware, Service, Software), By Type (B2B, B2C, B2G), By Application (Smart Manufacturing, Consumer Electronics, Building & Home Automation, Smart Mobility & Transportation, Connected Logistics, Others), By Region, Competition Forecast & Opportunities, 2026”, the Egypt IoT market is expected to witness significant CAGR for the forecast period, 2022-2026. IoT or the internet of things technology aids in connecting various smart devices to ease the operation and data sharing among devices. The presence of various smart devices such as smartphones, wearables, and other devices by collecting the necessary information to enhance the consumer experience is expected to fuel the market growth in the next five years. The high demand for data integration and analytics facility to make smart decisions for personal and commercial usage is contributing to the surge in the IoT market growth. The growing use of advanced technologies such as deep learning, artificial intelligence, data analysis for efficiently managing and processing the data is expected to boost the market demand. The use of the internet of things technology in the transportation industry for real-time vehicle tracking which aids the public transport agencies to communicate in an improved way is contributing to the Egypt IoT market growth. The high demand from the healthcare industry to provide quality treatment to patients by constant monitoring and analysis is expected to create huge potential for market growth. The increasing sales of the wearables to monitor the vital health signs at home and take appropriate steps along with the rise in the awareness of the consumer regarding the benefits of preventive healthcare is boosting the IoT market growth. The financial institutions are actively adopting the internet of things technology to maintain the supply of liquid cash into the ATMs and provide maximum security to the consumers from the occurrence of fraudulent activities is influencing the demand of the IoT services.
However, rise in the privacy and data security concerns may restrain the growth of the IoT market in the forecast period.
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Egypt IoT Market is segmented into component, type, application, regional distribution, and company. Based on the application, the market can be divided into smart manufacturing, consumer electronics, building & home automation, smart mobility & transportation, connected logistics, and others. The smart manufacturing segment is expected to hold a major market share for the forecast period, 2022-2026. The growing population and the rise in the per capita income of the consumers are fueling the demand to produce quality products. Smart manufacturing is a technology-driven approach that utilizes internet-connected machinery to monitor the production process and increase the overall production volume. The adoption of industry 4.0 for efficient management of the development and production process and manage the logistics chain which is expected to reduce the occurrence of accidents and other operational and labor costs is expected to accelerate the IoT market growth.
SaM Solutions, BrancoSoft Private Limited, MobiDev, E-Vision, Nilecode, SmartTech, Kenrys, Giza Systems, TrianglZ, Fujitsu Global are the leading players operating in Egypt IoT 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 service providers are coming up with their technologically advanced offerings.
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“Market players are making high-end investments for the development and adoption of wireless technologies such as Wi-Fi, Bluetooth, ZigBee, Z-Wave are expected to reduce the time required in the communication process and provide instant direct device-to-device communication. The wireless technology provides the high-speed network connectivity facility and a surge in the demand for connected devices by the consumers is expected to influence the IoT market growth. Additionally, the development of the smart city in Egypt which is also referred to as Hope city is expected to be equipped with advanced technologies and sensors that require the integration of internet of things technology for instant communication is expected to create lucrative opportunities for the IoT market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Egypt IoT Market By Component (Hardware, Service, Software), By Type (B2B, B2C, B2G), By Application (Smart Manufacturing, Consumer Electronics, Building & Home Automation, Smart Mobility & Transportation, Connected Logistics, Others), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Egypt IoT 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 market.
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