The IoT market is forecasted to reach over $20 billion by 2023
Internet of Things set to double in the Middle East and Africa by 2023. Source: shutterstock.com
According to GlobalData, Internet of things (IoT) is gaining momentum in Africa and the Middle East (AME) region. Despite IoT still being in the early stages of uptake, stakeholders are exploring and identifying key areas of growth.
The research says that the AME will be the second-fastest-growing region for IoT revenue after the Asia-Pacific. The utilities, government and manufacturing verticals will be driving the revenue, having accounted for more than 50% of the total IoT opportunity in the region 2 years ago.
Telecom operators aim to find ways to increase their role within the IoT ecosystem. They also try capturing a larger proportion of the revenue potential associated with IoT deployments.
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