Saudi Arabia Big Data And Artificial Intelligence Market Size (2024 - 2029)

Saudi Arabia Big Data And Artificial Intelligence Market Analysis

The Saudi Arabia Big Data And Artificial Intelligence Market size is estimated at USD 0.38 billion in 2024, and is expected to reach USD 2.19 billion by 2029, growing at a CAGR of 34.24% during the forecast period (2024-2029).

• Industries in Saudi Arabia are rapidly developing, mainly due to the growing adoption of data-based AI solutions and developments in machine learning, which boosts overall market growth opportunities.
• With high-speed broadband and 5G deployment, data access, and security, Saudi Arabia is building an AI-friendly ecosystem. In March last year, The Communications and Information Technology Commission (CITC) of Saudi Arabia moved on with its fifth-generation (5G) technology deployment plan. A successful test of the High Altitude Platform System providing 5G network coverage from the stratosphere was conducted by the Centre in cooperation with UK company Stratospheric Platforms Limited.
• These regions are heavily invested in e-commerce and governance initiatives, including IP protection; the area has considerable demands for web-based and mobile services. A rise in enterprise and government use of Web services could open many opportunities for contractors and service providers.
• AI has increased reliance on it in the country, which ranges from oil price volatility to rapid urbanization and water scarcity, because of its ability to deal with a range of issues international financial and social challenges. AI, whether on a global scale or in regional policy for this Middle Eastern country, has numerous strategic implications and plays an important role.
• Furthermore, even though college students, technology lovers, and research researchers are very aware of the benefits of artificial intelligence, there needs to be more awareness about its benefits in large populations. In addition, to achieve the adequate performance of the Deep Learning model, it would need exceptional fine-tuning, a proper and reliable algorithm, hyperparameter optimization, uninterrupted training on train data and testing with test data, and mighty computing power.
• During the COVID-19 pandemic, there has been significant growth in demand for broadband and data services along with AI in Saudi Arabia. To keep vital communication lines operational while continuing to deliver an improved living standard for the population of the Kingdom, the country has deployed information and communication technologies ICTs.

Saudi Arabia Big Data And Artificial Intelligence Industry Segmentation

Artificial intelligence is a topic that blends computer science and robust datasets to enable problem-solving abilities. In contrast, big data refers to data sets that are complex or too large to be handled by ordinary data-processing application software.

The study analyses the current market scenario and growth trends related to the Big Data and Artificial Intelligence industries in Saudi Arabia. A view of National AI Strategies across the world is also included. The study tracks the region's country-level market dynamics and the significant implementation use cases for AI and data analytics. Further, the study analyses the impact of COVID-19 on AI and digital transformation-related technologies.

The Saudi Arabia Big Data and Artificial Intelligence Market is segmented by solutions (hardware, software, services), organization size (SMEs, large enterprises), and end-user (IT and telecom, retail, public and government institutions, BFSI, healthcare, energy, construction, and manufacturing).

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.