Hyderabad, Aug. 17, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Qatar Internet of Things (IoT) Market Report (2023-2028)," the market is estimated at USD 0.79 billion in 2023. It is expected to register a CAGR of 27.92% during the forecast period.
The Internet of Things (IoT) refers to a system consisting of connected devices, sensors, and machines to establish a create of network for sharing data among users without human assistance. IoT applications range from smart appliances to fully integrated smart cities.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 0.79 billion |
| Market Size (2028) | USD 2.71 billion |
| CAGR (2023-2028) | 27.92% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The increasing internet and smartphone penetration rate. |
| The demand for efficiency in various sectors. |
Who are the Top Companies in the Qatar Internet of Things (IoT) Market?
The market is moderately fragmented as it consists of various large corporations. Key strategies like product innovation and mergers are being adopted by major market players.
Significant players in the Qatari Internet of Things (IoT) market are,
- Labeeb IoT (Qatar Mobility Innovations Center)
- Ooredoo Q.P.S.C
- Vodafone Qatar P.Q.S.C
- Cisco Systems Inc.
- Huawei Technologies Co. Ltd
- Fusion Informatics Limited
- Siemens AG
- PTC Inc.
- Honeywell International Inc.
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Key Highlights from the Qatar Internet of Things (IoT) Market Report:
Adoption of Smart Home Projects
- Market vendors are putting efforts into 5G connectivity to boost smart home projects. IoT applications are immensely deployed in cars, utilities, and home automation in the region.
- The country’s high internet and smartphone penetration rate is driving the 5G deployment efforts of telecom players.
Transportation and Logistics to Register Massive Growth
- The transportation and logistics segment is growing in Qatar, thereby increasing traffic-related issues. This is paving the implementation of sensory infrastructure to collect traffic data and make required changes.
- Market vendors are developing new products in the transportation sector to improve the efficiency of business operations by achieving real-time information like asset location and alerts and reports.
What are the Latest Developments in the Qatar Internet of Things (IoT) Market?
- In January 2023, Qatar General Electricity and Water Corporation announced that it installed 280,000 smart meters of electricity and water using IoT.
- In March 2022, Ooredoo partnered with KDDI APAC to offer IoT connectivity for Lexus cars in Qatar.
Mordor Intelligence has Segmented the Qatar Internet of Things (IoT) Market Based on Component and End-User Vertical:
- By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hardware
- Software
- Services (Managed and Professional)
- Communication/Connectivity
- By End-user Vertical (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Manufacturing
- Transport and Logistics
- Home and Building Automation
- Power and Utilities
- Government
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Qatar Internet of Things (IoT) Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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