“iot squared” revolutionizes daily lives and tech interactions by a developed system in the Middle East
Marking the 1st year since its promising installation
- “iot squared”, a joint venture by stc Group and PIF, offers IoT solutions for smart cities, Industry 4.0, smart mobility, and logistics,
- The company has forged a partnership universe with over 120 partners with major players across diverse sectors to enhance its focus on its regional business strategy,
- The company aims to unlock IoT value with advanced solutions for the Middle Eastern public sector, companies, and SMEs.
- “iot squared” achieved the ISO certificate due to its strong information security and high customer trust
Riyadh, KSA, 20 June 2023: In 2022, “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, the CEO of “iot squared”, stated 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 10.8 billion SAR 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 added.
Furthermore, Al Dahash expressed his anticipation, stating that “iot squared” is thoroughly aligned with the Kingdom’s vision of leading the digital transformation in the Middle East. Additionally, the company plays a crucial role in elevating aspirations to turn the knowledge-based economy into a concrete reality. Furthermore, the company’s innovative strategy aims to facilitate regional growth and achieve its goals of providing diverse products and services to its customers as a customer-centric entity.
“iot squared” has developed a comprehensive package of IoT digital solutions focused on three main areas: Smart Cities, Industry 4.0 Revolution, 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 digitise 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% 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 over 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 R&D (Research & Development) in ICT and IoT. “iot squared” has also teamed up with “Rockwell Automation” and “Schneider Electric” to enhance the Industry 4.0 Revolution 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.
“iot squared” actively engaged in various IoT events to showcase its expertise and advanced digital solutions, aligning with its goals. The company demonstrated its advanced IoT technologies at the “Global AI Summit 2022,” which aimed to promote the development of smart cities and communities. Additionally, “iot squared” participated in LEAP 2023, emphasizing its commitment to driving digital transformation in the industrial sector, focusing on Smart Cities, Logistics services, and industrial solutions. The company highlighted its innovative services and products during the event. Furthermore, “iot squared” participated in the Smart Manufacturing Conference as a digital enabler, displaying its dedication to advancing innovation in the industrial sector.
Throughout the year, “iot squared” made significant steps in developing a digital infrastructure to bolster its product line by creating a secure, adaptable, and expandable IoT platform. The company experienced notable growth, surpassing 100 employees, and established a admirable working environment, which earned it the Great Place to Work certification. Moreover, “iot squared” achieved ISO 27001 certification, highlighting its advanced expertise in information security and solidifying its reputation as a dependable partner to its diverse clientele.
It’s important to note that “iot squared” is a subsidiary of the stc Group, which reflects the integrated technological environment of the business ecosystem. It significantly drives digital transformation in the Kingdom and the region by offering clients IoT solutions that meet global standards. This enhances the customers’ experience, contributes to the sustainable growth of the business sector, and launches business models with innovative solutions that create long-term value.
