Honeywell (NYSE: HON), a global technology leader, addressed Saudi Arabia’s growing demand for Industrial Internet of Things (IIoT)-enabled technologies during a smart building and city technology showcase event held in Riyadh on October 9, 2019. The Honeywell Technology Day 2019 was attended by VIP guests including Ahmad Aalem, Head of Strategy at The Red Sea Development Company, in addition to smart building and city decision makers from the public and private sectors.
Focused on the future of Saudi Arabia’s smart buildings and cities, the event demonstrated Honeywell’s latest software solutions that drive optimized operations at a reduced cost, as well as improved safety and security for building owners, operators and occupants. Building and city stakeholders discussed how Honeywell can help to elevate Saudi Arabia’s buildings in verticals such as airports, hospitality, healthcare, industrial and multipurpose buildings.
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.