Middle East & Africa Internet Of Things (iot) In Retail Market Size & Outlook
Middle East & Africa internet of things (iot) in retail market, 2018-2030 (US$B)
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MEA internet of things (iot) in retail market highlights
- The MEA internet of things (iot) in retail market generated a revenue of USD 2.8 billion in 2023.
- The market is expected to grow at a CAGR of 29.1% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating component in 2023.
- Platform is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 2.8 billion |
| Market revenue in 2030 | USD 17.0 billion |
| Growth rate | 29.1% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Platform |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Hardware, Platform, Services |
| Key market players worldwide | Cisco Systems Inc, International Business Machines Corp, Intel Corp, SAP SE, ARM Holdings PLC ADR, SoftBank Group Corp, Alphabet Inc Class A, Microsoft Corp, NXP Semiconductors NV, PTC, Aviva PLC, Avnet Inc, Verizon Communications Inc, Zebra Technologies Corp Class A |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.5% of the global internet of things (iot) in retail market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 110.4 billion by 2030.
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Internet Of Things (IoT) In Retail Market Scope
Internet Of Things (IoT) In Retail Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa internet of things (iot) in retail market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to internet of things (iot) in retail market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 46.43% in 2023. Horizon Databook has segmented the Middle East & Africa internet of things (iot) in retail market based on hardware, platform, services covering the revenue growth of each sub-segment from 2018 to 2030.
This growth can be attributed to the rising demand for IoT solutions driven by the expansion of the retail sector in the region. Retailers in the region are leveraging IoT technologies that can significantly enhance customer experiences by offering personalized services, optimizing store layouts, and providing real-time product recommendations.
Moreover, IoT solutions are being increasingly used for smart store management, predictive maintenance, and real-time analytics to optimize staffing levels, improve queue management, and enhance the in-store experience.
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Our clientele includes a mix of internet of things (iot) in retail market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa internet of things (iot) in retail market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa internet of things (iot) in retail market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA internet of things (iot) in retail market size, by country, 2018-2030 (US$B)
Middle East & Africa Internet Of Things (IoT) In Retail Market Outlook Share, 2023 & 2030 (US$B)
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