The event follows Honeywell’s recent research that highlighted how 65% of medium-to-large organizations operating in the buildings and cities sector across Saudi Arabia and the UAE believe IIoT technologies are critical to business operations, or will become so in the next five years. The research also noted that executives in both countries reported a growing appetite for investments in cybersecurity, with 72% of respondents looking to boost spending in the next five years.
The Honeywell Technology Day 2019 covered how, through the adoption of IIoT solutions, building owners and operators can transform buildings by leveraging real-time data and deeper insights to create environments that are safer, smarter and more efficient. The solutions also provide greater control of energy consumption to reduce costs and drive sustainable outcomes through the deployment of smart management solutions. Investment in IIoT technologies remain a key priority in advancing the country’s buildings and cities in line with the Saudi Vision 2030, which aims to build a thriving economy and vibrant society through the digital transformation of critical infrastructure in the Kingdom.
“Saudi Arabia is implementing a clear set of strategic objectives aimed at boosting the economy and transforming the lives of citizens as part of Saudi Vision 2030. Having been in Saudi Arabia for more than 50 years, Honeywell is supporting these goals through a blend of digitally focused solutions, and the ability to combine and apply our global expertise with our local market knowledge,” said Fahad Alajlan, president, Honeywell in Saudi Arabia and Bahrain. “We continue to help empower the Kingdom by deploying advanced IIoT technologies as critical enablers of building and city operations to deliver levels of operational intelligence that were previously unobtainable.”
George Bou Mitri, vice president and general manager for Honeywell Building Technologies in the Middle East, Turkey and Africa added: “Regionally, it is forecasted that annual smart city technology spend is expected to double from $1.3 billion to $2.7 billion over the next four years, with Riyadh named as a key city in leading the way*. Across the world, more than 10 million buildings currently benefit from Honeywell’s advanced data analytics and cloud-based technologies, and in Saudi Arabia we are implementing these solutions safely and securely across airports, hospitals, universities, hospitality, industrial and multipurpose buildings.”
Bou Mitri continued: “As IIoT adoption increases, so too does our focus on implementing robust cybersecurity solutions. We continue to work with our customers to integrate rigorous cybersecurity systems to ensure building operations are protected.”
Hosted by Honeywell Building Technologies, the Honeywell Technology Day 2019 brought together key customers, industry leaders and Honeywell’s domain experts to discuss trends and the latest market developments including IIoT and its transformational impact on buildings.
For more information, please visit: www.honeywell-biotevent.com/FutureOfSaudiArabia
*IDC: Worldwide Semiannual Smart Cities Spending Guide – Middle East & Africa
The “IIoT Market Spotlight – UAE & Saudi Arabia” report is available for download here: https://hwll.co/r3j3b
About the Honeywell IIoT Market Spotlight – UAE & Saudi Arabia
Honeywell created the Honeywell IIoT Market Spotlight report to gauge the level of understanding and readiness to adopt IIoT technology, among senior decision-makers in medium-to-large enterprises in the UAE and Saudi Arabia.
Honeywell commissioned YouGov, the leading market research agency, to interview senior leaders from the Buildings and Cities, Transportation and Logistics and Industrial verticals to document both the actual and perceived benefits of the technology, as well as the investment outlook for these technologies both today and in the next five years.
A total of 248 interviews were conducted in the UAE (120) and Saudi Arabia (128), with respondents who hold leadership roles, ranging from presidents, vice-presidents and general managers to C-Suite and director-level leaders and department heads.
The results were then analyzed and compiled by IDC, a leading global IoT analyst house.
Honeywell Building Technologies (HBT) is a global business with more than 23,000 employees. HBT creates products, software and technologies found in more than 10 million buildings worldwide. Commercial building owners and occupants use our technologies to ensure their facilities are safe, energy efficient, sustainable and productive. For more news and information on Honeywell Building Technologies, visit http://www.honeywell.com/newsroom.
Honeywell ( www.honeywell.com ) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom
© Press Release 2019