GCC IoT Market
The Internet of Things (IoT) solutions market in the GCC region is projected to experience a turdy growth over the forecast period. The growing espousal of the cloud computing environment in business, increasing incidences of cyber-attack, and rising technological incorporation have elevated the market growth.
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GCC IoT Market Dynamics
The accelerating penetration of laptops, smart wearable electronics, and smartphones is one of the foremost forces complementing the growth of the GCC IoT market. The increasing adoption of Software as a Service (SaaS) and the evolving need for wireless networking technologies has elevated the market growth. Furthermore, the rising adoption of M2M technology to raise production, power efficiency, optimization of resources, and operating cost among industries such as telecommunication, energy, and manufacturing is expected to propel market growth. In addition, the aggravating espousal of digital technologies which include, big data, Z-Wave, robotics, Bluetooth, ZigBee, cloud computing, Machine Learning, and Artificial Intelligence among business organizations, will supplement the market growth. The evolution of smart cities and homes will further raise the demand for Internet of Things devices. Several constructional projects such as New Jeddah Downtown, Oman\'s Duqm Port, Al Faisaliah City, and Government Housing Plans have promoted GCC IoT market size.
Besides this, the rising consciousness about digital home safety solutions, including smart alarm systems and smart vigilance systems among individuals, will propel market growth. However, high operational costs, shortage of competent professionals, and insufficient standardization in connectivity protocols will restrain the market growth. In parallel, the excessive networking and application cost among the SMEs in GCC has obstructed the market growth.
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