At 7.4% CAGR, Middle East & Africa IoT Valves Market is Projected to be Worth US$ 115.26 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa IoT valves market was valued at US$ 64.91 in 2023 and is expected to reach US$ 115.26 million by 2031, registering a CAGR of 7.4% from 2023 to 2031. Increasing integration of IOT with blockchain and rising energy and water conservation efforts are among the critical factors attributed to the Middle East & Africa IoT valves market expansion.

In this present digital revolution era, the demand for IoT is extremely high. The major challenges of IoT arise due to the centralized architecture of IoT, such as scalability and security, which can be resolved using the decentralized architecture of Blockchain. Blockchain technology can be used to build a safe ledger of IoT data, guaranteeing that the data is reliable and accurate. Blockchain enables the creation of a secure identity for any IoT device. When devices interact, there is less chance of unauthorized access because they can verify each other's identities using cryptographic techniques. By using blockchain technology to manage data access rights and encryption keys, IoT systems may be able to better protect user data and maintain user privacy. Blockchain is well-suited for scaling IoT networks due to its consensus processes and distributed architecture. The blockchain network can change to accommodate new devices as they are added. To increase efficiency and security, they can automate processes in IoT systems so that decisions are only made when particular criteria are satisfied. The integration of blockchain with IoT provides possibilities for cutting-edge applications in smart cities, energy grids, healthcare, and supply chain management. With such various benefits of this integration, it can enhance data security, traceability, and accountability in processes involving IoT valves, especially in supply chain and process management. Therefore, the increasing integration of IoT with blockchain is anticipated to bring new trends in the IoT valves market.

On the contrary, the high cost of IoT valves hampers the growth of Middle East & Africa IoT valves market.

Based on connectivity, the Middle East & Africa IoT valves market is bifurcated into wired and wireless. The wired segment held 65.2% share of the Middle East & Africa IoT valves market in 2023, amassing US$ 42.30 million. It is projected to garner US$ 71.83 million by 2031 to expand at 6.8% CAGR during 2023-2031.

Based on type, the Middle East & Africa IoT valves market is segmented into pressure independent control valve (PICV), regular valves, and energy valves. The pressure independent control valve (PICV) segment held 46.0% share of the Middle East & Africa IoT valves market in 2023, amassing US$ 29.88 million. It is projected to garner US$ 50.60 million by 2031 to expand at 6.8% CAGR during 2023-2031. The regular valves segment is further sub segmented into ball valve, butterfly valve, safety valve, and others.

Based on end use industry, the Middle East & Africa IoT valves market is segmented into industrial, commercial, and residential. The industrial segment held 61.8% share of the Middle East & Africa IoT valves market in 2023, amassing US$ 40.13 million. It is projected to garner US$ 74.75 million by 2031 to expand at 8.1% CAGR during 2023-2031.

Based on country, the Middle East & Africa IoT valves market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Saudi Arabia held 34.0% share of Middle East & Africa IoT valves market in 2023, amassing US$ 22.06 million. It is projected to garner US$ 40.77 million by 2031 to expand at 8.0% CAGR during 2023-2031.

Key players operating in the IoT valves market are Klinger Holding GmbH; KTW Technology GMBH; Carrier Global Corp; Belimo Holding AG; IMI Plc; Ultra Clean Holdings Inc; Siemens AG; Flowserve Corp; Honeywell International Inc; Larsen & Toubro Ltd; Smart Wires Inc; Flow Dynamics LLC; IoT Technologies; ChengDu ZhiCheng Technology Co., Ltd.; Teksun Inc.; Autorun Control Valve Co., Ltd.; Ham-Let Group; and Rusco, among others.

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