Industry Brief Reduction in cost of connected devices and the emergence of advanced data analytics is expected to drive the demand for Iran IoT market in the forecast period. According to TechSci Research report, “Iran IoT Market By Component (Hardware, Service, Software), By Type (B2B, B2C, B2G), By Application (Smart Manufacturing, Consumer Electronics, Building & Home Automation, Smart Mobility & Transportation, Connected Logistics, Others), By Region, Competition Forecast & Opportunities, 2026”, the Iran IoT market is expected to witness a growth of significant CAGR in the forecast period, 2022-2026. Smart devices use internet technology to establish a connection between devices, people, and networks. Leading authorities are promoting the adoption of IoT in different industry verticals to boost the country's economic status and enhance the convenience, comfort, and safety of its citizens. The government is also encouraging the use of IoT technology in the agriculture sector to increase the profitability and productivity of the agricultural process. It aims to reduce the wastage of water, optimize the use of basic resources, and for the implementation of smart farms in the country. Iran boasts of a large number of natural gas reserves, and it contributes significantly to the country's economy. The use of IoT in the oil production process for real-time analysis and monitoring for the elimination of breakdowns, increase in production, and the reduction of downtime and maintenance costs is influencing the market growth. Also, the growing consumer awareness about the advantages of installing smart metering is fueling the market demand. Smart metering provides benefits like accurate bills, detailed feedback about energy usage, and reduces the number of power cut-offs, attracting more customers. The use of IoT technology in the healthcare system to provide quality treatment to patients and the rise in the demand for wearable devices for real-time health monitoring is expected to accelerate the demand for IoT services in the country. However, the lack of external funding sources and the rise in privacy and security concerns may restrain the Iran IoT market growth for the forecast period. Iran IoT Market is segmented into component, type, application, regional distribution, and company. Based on application, the market is divided into smart manufacturing, consumer electronics, building & home automation, smart mobility & transportation, connected logistics, and others. The smart mobility & transportation segment is expected to witness growth in the forecast period, 2022-2026. The growing occurrences of traffic congestion and the increased preference for vehicle ownership are creating the demand for advanced methods. The increasing use of advanced technologies like cloud computing, computer vision, location-based services, and wireless communication is expected to enhance mobility and transportation services. Based on type, the market is divided into B2B, B2C, and B2G. The B2G segment is expected to hold a significant share of the Iran IoT market for the next five years. The rise in the number of initiatives launched by the government authorities to facilitate enhanced experience to its citizens is fostering the demand for the B2G type. The development of smart cities and the vast fund expenditure for research and development activities to introduce advanced technology, hardware, and software by the leading authorities is attracting the IoT market players to invest in the respective fields to gain maximum profit. SoluLab, SaM Solutions, Biz4Group LLC, Mobiloitte Inc, The Iranian Modern Technology and Management Company, Peerbits, Konstant Infosolutions, Fujitsu Global, Kian Iranian Smart Technologies Development Group, AKO Smart Technologies are the leading players operating in Iran IoT market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several IoT service providers are coming up with their technologically advanced offerings. “Development of the smart cities in the country to boost the economy and ensure the well-being of citizens is expected to create lucrative opportunities for the Iran IoT market growth. The national city program comprises cities like Shiraz, Qom, Kish Free Zone, Isfahan, Uremia, Tabriz, Tehran, and Mashhad to mitigate urban problems such as traffic congestion, energy scarcity, air pollution is employing the need for smart methods. Smart cities use advanced technologies, software, hardware for efficient communication between the smart devices, which in turn is anticipated to propel the Iran IoT market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm. 12