Riyadh – Sharikat Mubasher: The value of Saudi Arabia’s Internet of Things (IoT) market has reached SAR 12 billion and is projected to grow to SAR 14 billion by 2027, according to Abdullah AlBedaiwy, Chairman of the Saudi IoT Association.

Speaking to Al-Eqtisadiah on the sidelines of the Global IoT Congress 2025 in Riyadh, AlBedaiwy said the Saudi market is among the most attractive for investors, offering vast opportunities across smart cities, manufacturing, agriculture, logistics, and other sectors undergoing digital transformation.

The Internet of Things refers to a network of connected physical devices equipped with sensors, software, and communication capabilities that collect and exchange data, ranging from household appliances to complex industrial systems.

According to the latest global statistics, the global Internet of Things (IoT) market was valued at USD 596 billion in 2023. It is expected to grow from USD 714 billion in 2024 to USD 4.06 trillion by 2032, reflecting a compound annual growth rate (CAGR) of 24.3%, according to Fortune Business Insights.