Internet Of Things (Iot) Revenue In 2015 To Touch USD 2 Billion In The Middle East

SAP, the market leader in enterprise application software announced that organizations need to innovate with the power of Big Data as the revenue from Middle East’s Internet of Things (IoT) will be touching nearly USD 2 billion in 2015. Accordingly to Deloitte, the market growth of Middle East’s IoT is outpacing the global average.

This is the era of digital technology where more objects and devices are connected together and creating vast amounts of data that Middle East businesses are looking to leverage for actionable insights into their supply chain, research and product development, customer preferences, and location-based services and offers.

“The Internet of Things will be the Middle East’s biggest game-changer, and enterprises need to develop comprehensive strategies to re-imagine their businesses in the digital economy,” said Frank Forndron, SAP Head of Customer Office, SAP MENA, and Head of Quality Management for SAP MENA and EMEA Emerging Markets.

“Data is growing at an unprecedented rate, driven by an explosion in the amount of mobile devices, cloud deployments, business transactions, digitization, and collaboration on social platforms,” said Dhiraj Daryani of research firm IDC. “The amount of information created and replicated is doubling in size every two years, and will reach 44 zettabytes, or 44 trillion gigabytes by 2020. Pioneering organizations in the Gulf States are investing in cutting-edge technologies to extract value from this rapidly growing data, which is available to them both from within their organization and from external data sources such as social media feeds.”