iot squared — a joint venture between stc Group and Saudi Arabia’s Public Investment Fund — accomplished the successful creation of an IoT model system in the Middle East. This year, the company played a significant role in supporting a variety of public sectors, companies and SMEs in their quest to embrace the finest smart solutions available in the industrial sectors, transportation and logistics services, and smart cities on a more extensive scale than ever before.
Othman Al-Dahash, CEO of iot squared, said that the Internet of Things market is rapidly expanding due to notable changes in the public sector, logistics services and the Industry 4.0 Revolution. The projection indicates that the market will reach SR10.8 billion ($2.88 billion) by 2025, and iot squared is well equipped to provide suitable solutions to meet this demand. This growth is supported by the wise leadership’s plan to achieve economic diversity as part of the Kingdom’s Vision 2030, and iot squared is strategically positioned to keep pace.
“iot squared keeps pace with the Kingdom’s great aspirations to lead the Middle East in the digital transformation. It also contributes to raising the bar of ambitions to make the knowledge-based economy a tangible reality. Moreover, our ‘bold’ strategy is designed to enable our regional growth aspirations and achieve our goals in adding value to the market as a customer-centric entity that provides diverse products and services,” Al-Dahash said.
iot squared has developed a comprehensive package of IoT digital solutions focused on three main areas: smart cities, Industry 4.0, and smart mobility and logistics services. The company has also extended its support to various business sectors to facilitate the adoption of IoT technologies. This involves the development of innovative business models and analytic capabilities to enhance the performance and productivity of industrial operations through IoT solutions in the industrial sector. Moreover, this has resulted in the signature of several contracts and has enhanced the industrial companies’ ability to digitize processes, transform business models, improve performance, increase productivity and reduce waste. According to the Global System for Mobile Communications Association, IoT can increase economic productivity by 0.2 percent of the GDP.
In pursuit of advancing the working ecosystem in the Middle East, iot squared has established key collaborations with major players in the IoT field. The company boasts more than 120 high-quality partnerships with industry leaders to support its regional business strategy. Among these partnerships, iot squared has joined forces with Huawei to accelerate digital transformation solutions for smart cities, the industrial sector, and industry transformation. Additionally, the company has partnered with Hitachi to focus on research and development in ICT and IoT. iot squared has also teamed up with Rockwell Automation and Schneider Electric to enhance the Industry 4.0 advancement and with Software AG to facilitate seamless technical integration. These collaborations with all entities aim to revolutionize various sectors and contribute to turning the company’s vision into reality.
