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Saudi Arabia IoT Device MarketThe Saudi Arabia IoT Device Market is estimated to grow at a higher CAGR over the forecast period (2020-2027).The factors driving the growth of Saudi Arabia IoT Device Market includes increasing penetration of smartphone and wearable devices in Saudi Arabia, improvements in the internet connectivity, rising popularity of 5G Technology and expansion of the IT & telecom industry. According to the report published by Airnow Data, around 80.7% people in the Kingdom of Saudi Arabia used smartphones in 2019 and this figure is expected to increase to 24 million by 2022, with total population being 30 million, which will boost the market growth in the approaching years. Moreover, the growing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) by major corporations and rising attraction amongst consumers about smart parking and smart lighting solutions, are some of the additional factors supplementing the market growth. In addition, the increase in Government’s budget to build smart cities, rising investments by leading players on research and development, rapid urbanization, and growing population growth rates, are further propelling the Saudi Arabia Internet of Things (IoT) Market size.However, the growth of Saudi Arabia IoT Device Market is hindered due to lack of technical expertise to handle the IoT infrastructure.Request a free sample of this reportThe major players operating in the Saudi Arabia IoT Device Market are ZTE Corporation, Huawei Technologies Co. Ltd., Oracle Corporation, IBM Corporation, Intel Corporation, Cisco Systems Inc., Honeywell International Inc., SAP Saudi Arabia Software Services Co. Ltd., Microsoft Saudi Arabia, and Siemens AG, among others.Application: Segment AnalysisBased on Application, the Smart Retail segment is estimated to expand at a significant CAGR during the forecast period attributed to increasing application of Internet of Things (IoT) solutions in the retail sector to improve the customer experience.Node Component: Segment AnalysisBased on Node Component, the Sensor segment is predicted to grow at a remarkable CAGR over the forecast period. The internet of things-based sensors helps in monitoring data, saves money, prevents cyber-attacks and these sensors can also be connected to cloud through Wi-Fi and Bluetooth, are the major factors responsible for the segment’s growth.Network Infrastructure: Segment AnalysisBased on Network Infrastructure, the Gateway segment is anticipated to capture a sizeable market share during the forecast period. IoT gateways helps to connect to the Cloud, filters data, translates communication between different IoT devices, mitigates risk and provides intelligence at the edge, are some of the features augmenting the growth of the segment.Market SegmentationSaudi Arabia Internet of Things Market by ComponentSoftwareServicesPlatformSaudi Arabia Internet of Things Market by SoftwareReal Time Streaming AnalyticsSecurity SolutionIdentity Access ManagementData Encryption and TokenizationSecure CommunicationsDistributed Denial of Service Protectiono OthersData ManagementCustomer DataProduct DataSupplier DataLocation DataAsset DataRemote Monitoring SystemsNetwork bandwidth managementStandalone Network ManagementBundled Network ManagementSaudi Arabia Internet of Things Market by ServicesProfessional serviceDeployment and IntegrationSupport and MaintenanceConsulting ServiceManaged ServiceSaudi Arabia Internet of Things Market by PlatformDevice ManagementApplication ManagementNetwork ManagementCloud PlatformSaudi Arabia IoT Market by Node ComponentProcessorSensorConnectivity ICSaudi Arabia Internet of Things Market by Network InfrastructureServerStorageEthernet Switch and RoutingGatewaySaudi Arabia Internet of Things Market by ApplicationBuilding and AutomationSmart Energy and UtilitiesSmart ManufacturingConnected LogisticsSmart RetailHealthcareSmart Mobility and TransportationGovernment and DefenseAgricultureBanking and Financial ServicesOthersAbout GMI ResearchGMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.Media ContactCompany Name: GMI RESEARCHContact Person: Sarah NashEmail: [email protected]: Europe – +353 1 442 8820; US – +1 860 881 2270Address: Dublin, IrelandWebsite: https://www.gmiresearch.com/ 

The Drone Taxi Market is expected to Grow at a higher CAGR of 70.3% during the forecast period, 2022-2029.The factors driving growth of the Drone Taxi Market includes development of vertiports and infrastructure for drone delivery services, rising focus on reducing traffic congestion, increasing number of smart city projects around the world, growing demand for autonomous air ambulance vehicles and improvements in the living standards. Moreover, Government initiatives to develop pollution free travel transportation systems, deployment of autonomous aircrafts for intracity transportation, growing adoption oof advanced technologies and rapid urbanization, are some of the additional factors supplementing the Drone Taxi Market share. In addition, the increasing investments by major corporations on research and development, strategic alliances between companies and growing disposable incomes, are further propelling the Drone Taxi Market size.However, growth of the Drone Taxi Market is hindered attributed to rising concerns related to cybersecurity.The major players operating in the Drone Taxi Market includes Opener, SkyDrive Inc., EHang, LILIUM GMBH, Textron Inc, Karem Aircraft, Inc., Airbus, Volocopter GmbH, Joby Aviation and Boeing, among others.Based on Range, the Intracity emerged as the fastest growing segment during the forecast periodIntracity drone taxi services are useful for on-demand transportation between within core urban areas and suburban destinations outside cities, is propelling growth of the segment.Based on End-Use Industry, the Ride Sharing Companies segment is projected to grow at a significant CAGR over the forecast periodGoring demand for faster transportation services and increase in the number of taxi service operators, are pushing growth of the segment.Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast periodAs per the Drone Taxi Market Trend, presence of the leading players such as Textron Inc, Joby Aviation, and Boeing, increase in the construction of smart cities across United States and Canada, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.Key DevelopmentsIn 2021, EHang and Spanish National Police partnered to explore potential use cases for AAV in emergency and security mission.In 2021, Joby Aviation and NASA partnered to measure noise footprint of electric taxi by gathering highly valuable aircraft safety and noise data that will contribute towards an aviation future that include Advanced Air Mobility operations.Market SegmentationSegmentation by RangeIntercityIntracitySegmentation by AutonomyFully AutonomousRemotely PilotedSegmentation by Passenger CapacityUp to 23 to 5More than 5Segmentation by End-Use IndustryRide Sharing CompaniesHealthcareScheduled OperatorsPrivate OperatorsSegmentation by RegionAsia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAEAbout GMI ResearchGMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.Media ContactCompany Name: GMI RESEARCHContact Person: Sarah NashEmail: [email protected]: Europe – +353 1 442 8820; US – +1 860 881 2270Address: Dublin, IrelandWebsite: https://www.gmiresearch.com/