According to the report by Expert Market Research (EMR), the Saudi Arabia big data and artificial intelligence market size reached a value of USD 1.30 billion in 2023. Aided by the increasing adoption of digital transformation initiatives across various sectors, the market is projected to further grow at a CAGR of 29.8% between 2024 and 2032 to reach a value of USD 13.58 billion by 2032.
Big data and AI are playing a crucial role in transforming the Saudi Arabian economy, with applications ranging from healthcare and finance to energy and government services. The integration of these technologies is enabling businesses and organisations to make data-driven decisions, improve operational efficiency, and enhance customer experiences.
As per the Saudi Arabia big data and artificial intelligence market analysis, the healthcare sector, in particular, is witnessing a surge in the adoption of big data and AI solutions. These technologies are being used to analyse vast amounts of medical data, predict disease outbreaks, and personalise patient care. In the finance sector, big data and AI are revolutionising the way banks and financial institutions operate, with applications in fraud detection, risk management, and customer service.
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The energy sector, a cornerstone of the Saudi economy, is also leveraging big data and AI to optimise oil and gas production, reduce costs, and improve sustainability which fuels Saudi Arabia big data and artificial intelligence market growth. Additionally, the government is utilizing these technologies to streamline public services, enhance security, and promote smart city initiatives. Several other factors are driving the growth of the market in Saudi Arabia. The increasing availability of data, advancements in technology, and the growing demand for automation and efficiency are key contributors. Moreover, the government’s support through investments in infrastructure, research and development, and partnerships with global tech companies is further propelling the market.
As per the Saudi Arabia big data and artificial intelligence market analysis, the retail sector in Saudi Arabia is undergoing a digital transformation, with e-commerce and online shopping gaining popularity. Big data and AI are being used to personalise customer experiences, optimise supply chains, and predict consumer trends. As digitalisation increases, so does the threat of cyberattacks. Big data and AI are being employed to enhance cybersecurity measures, detect anomalies, and prevent breaches in both the public and private sectors.
In the agricultural sector, big data and AI are being used for precision farming, crop yield prediction, and efficient resource management, contributing to food security and sustainability and propelling Saudi Arabia big data and artificial intelligence market expansion. The adoption of Industry 4.0 technologies in manufacturing is being driven by big data and AI, leading to increased automation, predictive maintenance, and supply chain optimisation.
The financial technology (fintech) sector in Saudi Arabia is booming, with big data and AI playing a pivotal role in developing innovative services such as robo-advisors, algorithmic trading, and fraud detection systems. With Saudi Arabia’s focus on boosting its tourism sector, Saudi Arabia big data and artificial intelligence market is being used to enhance visitor experiences, optimise hotel operations, and develop targeted marketing strategies.
The Saudi Arabian government’s ambitious smart city projects, such as NEOM, are major drivers for the adoption of big data and AI technologies. These technologies are essential for urban planning, traffic management, energy optimisation, and enhancing the quality of life in these futuristic cities. The rapid expansion of 5G networks in Saudi Arabia is enabling faster data transmission and connectivity, which is crucial for the effective implementation of AI and big data analytics in real-time applications.
The government is employing big data and AI to improve public services, enhance decision-making, and increase transparency and accountability in various departments which can boost Saudi Arabia big data and artificial intelligence market share. Partnerships between different industries and sectors are fostering innovation and driving the adoption of big data and AI solutions in Saudi Arabia.
Saudi Arabia Big Data and Artificial Intelligence Market Segmentation
The market can be divided based on component, technology, organisation size, and end use.
Market Breakup by Component
- Hardware
- Software
- Service
Market Breakup by Technology
- Deep Learning
- Machine Learning
- Natural Language Processing (NLP)
- Machine Vision
Market Breakup by Organisation Size
- SMEs
- Large Enterprises
Market Breakup by End Use
- IT and Telecom
- Retail
- Public and Government Institutions
- BFSI
- Healthcare
- Energy
- Construction and Manufacturing
- Others
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Competitive Landscape of Saudi Arabia Big Data and Artificial Intelligence Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Saudi Arabia big data and artificial intelligence market. Some of the major players explored in the report by Expert Market Research are as follows:
- Microsoft Corporation
- Amazon Web Services, Inc.
- Intel Corporation
- NVIDIA Corporation
- IBM Corporation
- Oracle Corporation
- SAP SE
- IQVIA Inc.
- NEC Corporation
- SAS Institute Inc.
- Others
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