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Middle East and Africa IoT in Automotive Market
Middle East and Africa region is expected to be a growing market for IoT in automotive as the adoption of IoT in the Middle East and Africa region is accelerating over the years. Public as well private organizations in the region are increasingly digitalizing their businesses to automate their operations and improve productivity. Such focused developments towards automation are expected to drive the adoption of IoT in automotive market in the Middle East and Africa. According to Netscribes, the Middle East and Africa IoT in automotive market is projected to grow at a compound annual growth rate (CAGR) of 19.29% leading to a revenue of USD 2.71 Bn by 2023.
The Middle Eastern countries are one of the largest importers of western cars and relevant technologies. Thus, they are highly interested in vehicles with new technologies. Also, gulf countries like Qatar, Saudi Arabia and the United Arab Emirates (UAE) which are leaders in smart cities, are expected to witness huge adoption of IoT technology for smart transportation. Deployment of advanced navigation systems, digital dashboards and premium infotainment systems are some of the major trends in the automotive market. They are expected to boost the demands for IoT enabled infotainment systems in the region.
The Middle East and Africa IoT in automotive market is classified into three primary segments:
- based on connectivity form: tethered, integrated, embedded
- based on communication type: vehicle to vehicle, in-vehicle, vehicle to infrastructure
and based on application: navigation, telematics, and infotainment
Telematics is expected to register the highest growth rate in the applications segment. Roads in African countries are very dangerous to drive and traffic accident is the biggest cause of death in countries like Kenya, Ethiopia, South Africa and Sudan. These conditions are expected to drive the adoption of IoT in telematics as it would help reduce accidents at a great level by vehicular monitoring through the use of tracking devices.
Key growth factors
The high disposable income of people of the gulf countries like Saudi Arabia, Qatar and the UAE is a significant driving factor behind the growth of automobile industry in the Middle East. These people have interest cars rich in features and equipped with infotainment systems and data connectivity systems. Countries in the Middle East are almost at par with the western world with respect to in-car connectivity. The UAE-Dubai are the most significant regions with opportunity for the adoption of IoT. Additionally, global automotive players are focusing on the Middle East and Africa region to reap the profits of a growing, unsaturated market. Recently, Etisalat and Nissan partnered to deploy connected cars in the region.
Threats and key players
Political unrest in different regions of the Middle East and Africa hinders market development due to low penetrability in these regions. Countries such as Ghana, Congo, and Egypt, etc. pose political risks to MNCs trying to venture into a greenfield, joint venture or brownfield investment in the automotive industry, hindering the overall growth of the market.
Major players in the Middle East and Africa IoT in automotive market are Cisco, Ford, IBM, Microsoft, AT&T, etc.
What's covered in the report?
1. Overview of the Middle East and Africa IoT in automotive market.
2. Market drivers and challenges in the Middle East and Africa IoT in automotive market.
3. Market trends in the Middle East and Africa IoT in automotive market.
4. Historical, current and forecasted market size data for the Middle East and Africa IoT in automotive market segmentation by connectivity form (tethered, integrated, embedded) - by revenue (USD Bn).
5. Historical, current and forecasted market size data for the Middle East and Africa IoT in automotive market segmentation by communication type (vehicle-to-vehicle, in-vehicle, vehicle-to-infrastructure) - by revenue (USD Bn).
6. Historical, current and forecasted market size data for the Middle East and Africa IoT in automotive market segmentation by application (navigation, telematics, infotainment) - by revenue (USD Bn).
7. Historical, current and forecasted country-wise (UAE and Saudi Arabia) market size data (USD Bn) for the Middle East and Africa IoT in automotive market and its segmentations by connectivity form (tethered, integrated, embedded), by communication type (vehicle to vehicle, in-vehicle, vehicle to infrastructure), and by application (navigation, telematics, infotainment).
8. Analysis of the competitive landscape and profiles of major companies operating in the market.
Why buy?
o Understand the demand for IoT in automotive market to determine the viability of the market.
o Determine the developed and emerging markets where IoT for automotive market is provided.
o Identify the challenge areas and address them.
o Develop strategies based on the drivers, trends and highlights for each of the segments.
o Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
o Recognize the key competitors of this market and respond accordingly.
o Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.
o Define the competitive positioning by comparing the products and services with the key players in the market.
Customizations available
With the given market data, Netscribes offers customizations according to specific needs. Write to us at support@researchonglobalmarkets.com.
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