Middle East & Africa Industrial Networking Solution Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00032117 | Category: Electronics and Semiconductor
No. of Pages: 150 | Report Code: BMIRE00032117 | Category: Electronics and Semiconductor
The Middle East & Africa industrial networking solution market size is expected to reach US$ 5,145.20 million by 2031 from US$ 1,424.93 million in 2023. The market is estimated to record a CAGR of 17.4% from 2023 to 2031.
The Middle East has one of the most volatile online environments in the world. The combination of a growing economy and high rates of digitization has drawn the attention of hostile actors from all over the world. Vulnerabilities to information security in the Middle East and Africa have considerably increased in the past few years. Ransomware attacks are also increasing in the region. Cyber-attacks against operational technology (OT) systems are increasing due to several variables, such as intellectual property theft, industrial sabotage, and denial of service or process manipulation in industrial installations. The OT cyber-attacks seriously impair the company's operations, production tools, and output. The increase in cyberattacks in the Middle East and Africa is expected to boost the demand for industrial networking solutions during the forecast period. For instance, in December 2023, Telecom organizations in Africa were targeted by Iran-linked hackers. In June 2022, one of Iran's major steel companies was forced to halt production after it was hit by a cyberattack.
According to the report published by software company Group-IB in 2022–2023, the UAE (33%), Saudi Arabia (29%), and Kuwait (21%) were the most often targeted countries in the Persian Gulf region. Further, in 2023, 152 novel instances of data being leaked into the public domain were observed in the Middle East and Africa. Therefore, with the increasing threat of cyberattacks, the demand for industrial networking solutions is expected to grow in the Middle East and Africa during the forecast period.
Key segments that contributed to the derivation of the industrial networking solution market analysis are component, deployment, connectivity, and end-use industry.
The integration of IIoT devices and sensors with industrial networking solutions has a profound impact on the market. It creates a strong demand for advanced networking technologies that can effectively facilitate the connectivity and data exchange requirements of IIoT devices. This includes the need for robust cybersecurity measures, efficient cloud computing capabilities, reliable edge computing infrastructure, and seamless integration with mobile technologies. As the industrial sector increasingly embraces IIoT integration, it is expected that the market for industrial networking solutions will experience substantial growth. In response to this trend, RS Components partnered with HMS Networks to expand their product offerings and cater to the evolving needs of the industrial sector. This collaboration aims to provide a comprehensive range of networking solutions that enable the seamless integration of IIoT devices and sensors, providing customers with an integrated and efficient networking ecosystem. The integration of IIoT devices and sensors with industrial networking solutions is expected to generate lucrative growth opportunities for the industrial networking solutions market during the forecast period.
Based on country, the Middle East & Africa industrial networking solution market comprises Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia held the largest share in 2023.
Saudi Arabia is a significant player in the Middle East & Africa (MEA) industrial networking solutions market. The country is witnessing rapid growth in the Industrial Internet of Things (IoT), with the development of cloud-based solutions and services aimed at improving security and operational intelligence for various sectors, including governments, enterprises, transport, and communities. The COVID-19 pandemic has forced manufacturing industries in Saudi Arabia to re-evaluate their traditional production processes and adopt smart manufacturing practices. This shift has had a positive impact on the demand for factory automation and industrial control systems. Saudi Arabia is expected to be one of the leading countries in the MEA market due to increasing government investments in new technologies.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1,424.93 Million |
| Market Size by 2031 | US$ 5,145.20 Million |
| CAGR (2023 - 2031) | 17.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
|
Some of the key players operating in the market include ABB Ltd; Belden Inc; Cisco Systems Inc; Hewlett Packard Enterprise Development LP; Huawei Technologies Co Ltd; Moxa Inc.; Nokia Corp; Rockwell Automation Inc; Semtech Corp; and Siemens AG among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Middle East & Africa Industrial Networking Solution Market is valued at US$ 1,424.93 Million in 2023, it is projected to reach US$ 5,145.20 Million by 2031.
As per our report Middle East & Africa Industrial Networking Solution Market, the market size is valued at US$ 1,424.93 Million in 2023, projecting it to reach US$ 5,145.20 Million by 2031. This translates to a CAGR of approximately 17.4% during the forecast period.
The Middle East & Africa Industrial Networking Solution Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Industrial Networking Solution Market report:
The Middle East & Africa Industrial Networking Solution Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Industrial Networking Solution Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Industrial Networking Solution Market value chain can benefit from the information contained in a comprehensive market report.
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