Saudi Arabia Big Data & AI Solutions Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Saudi Arabia Big Data And Artificial Intelligence Industry Overview

Saudi Arabia's Big Data and Artificial Intelligence Market is moderately competitive with significant regional players such as Microsoft Corporation, Nvidia Corporation, Amazon Web Services Inc., SAP SE, and Intel Corporation. The companies leverage strategic collaborative initiatives and acquisitions to increase market share and profitability.

In January 2024, Google and Intel discussed strategic partnerships with Saudi Arabia in various fields, such as Artificial Intelligence (AI) and Cloud Computing. Google has planned to launch Google for Startups Cloud Program in the first quarter of 2024. This supported Saudi SMEs with technical assistance, dedicated mentors, and industry experts while potentially receiving cloud credits of up to USD 200,000.

In November 2023, Riyadh Air and Microsoft announced signing a Memorandum of Understanding to achieve innovation across Saudi Arabia's aviation sector. Under this agreement, Riyadh Air has selected Microsoft's Azure cloud platform as its preferred platform. It will deploy a highly secure and reliable platform to boost operational efficiency and customer service. Both organizations leverage each other's capabilities in big data, artificial intelligence, copilot experiences, the Metaverse, and virtual reality to enhance Riyadh Air's offerings, services, and operational models.

In October 2023, Lunit, South Korea's prominent medical artificial intelligence service offering company, announced its plans to reinforce a partnership with the government of Saudi Arabia to bring virtual hospitals to countries in the Middle East. Saudi Vision 2030 project is boosting the virtual hospital initiative. Saudi Vision 2030 is a national project to expand the nation's economy and nurture its public service segments, such as education, health, and tourism, instead of relying exclusively on the oil business.