iot squared, the region’s IoT player, and Dahua Technology, a video-centric smart IoT solution and service provider, signed a new partnership agreement to advance digital transformation in the Kingdom of Saudi Arabia in support of Vision 2030.
The agreement which was signed at the iot squared headquarters in Riyadh, will see the two tech companies collaborate to enrich IoT security and develop new smart surveillance offerings for smart cities.
Committed to delivering cutting-edge IoT solutions to governments, enterprises, and SMEs, this latest partnership is part of iot squared’s broader efforts to enable a ‘Connected Kingdom’ by supporting the development of Saudi Arabia’s IoT ecosystem across three verticals: public sector, logistics, and Industry 4.0. These industries are expected to drive IoT spending in KSA, with the domestic IoT market in Saudi Arabia projected to reach SAR10.8bn by 2025, with an annual growth rate of 12.8 percent.
Speaking on the agreement announcement, Othman Al Dahash, CEO of iot squared, said, “At iot squared, our vision is to provide organizations within the public and private sector with best-in-class cutting-edge IoT solutions that deliver real-time insights for critical decision-making and intelligent operations. IoT brings machines, cloud computing, analytics, and people together to improve the performance and productivity of processes, helping customers digitize processes, transform business models, and improve performance and productivity, while decreasing waste.”
“With the support of our new partners Dahua Technology, we will leverage our deep expertise and technical know-how to support Saudi Arabia’s digital transformation efforts, helping businesses to drive cost efficiencies, improve customer experiences, and promote sustainability. With the advancement of IoT said to increase economic productivity by as much as 0.2% of GDP, we look forward to working with our new partner in support of a thriving and dynamic economy,” Al Dahash added.
Gari Li, General Manager of Dahua Technology said: “At Dahua Technology, we aim to continue to contribute to the realization of key Saudi Vision 2030 objectives that are concerned with smart cities, Industry 4.0, and IoT. We are delighted to partner with iot squared to enable both of our expertise in the adoption of IoT technologies in various industries in support of our nation’s ambitions to have a diverse economy”.