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

The market size for Big Data and AI solutions in Saudi Arabia is experiencing significant growth, driven by the rapid development of industries and the increasing adoption of data-based AI solutions and machine learning. The country's efforts to build an AI-friendly ecosystem are supported by the deployment of high-speed broadband and 5G technologies, facilitating enhanced data access and security. Strategic alliances with market players are being formed to advance 5G deployment, which is crucial for meeting the rising demands for connectivity. The focus on e-commerce and governance initiatives further amplifies the demand for web-based and mobile services, creating numerous opportunities for contractors and service providers. Despite the growing awareness of AI's benefits among certain groups, there is a need for broader awareness across the population. The post-pandemic surge in demand for broadband and data services, along with AI, underscores the importance of information and communication technologies in maintaining vital communication lines and improving living standards in the Kingdom.

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Market Size of Saudi Arabia Big Data And Artificial Intelligence Industry

Saudi Arabia Big Data And Artificial Intelligence Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 0.38 Billion
Market Size (2029) USD 2.19 Billion
CAGR (2024 - 2029) 34.24 %
Market Concentration Medium

Major Players

Saudi Arabia Big Data And Artificial Intelligence Market Major Players

*Disclaimer: Major Players sorted in no particular order

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. The country is building alliances with the market players to facilitate the advanced 5G deployment.

• For instance, Ericsson announced a three-year Neutral Host Provider (NHP) agreement with Advanced Communications and Electronics Systems (ACES), an international neutral host provider. Under this agreement, ACES will provide advanced Ericsson indoor products to multiple communications service providers (CSPs) and serve the increasing demands for enhanced 5G network connectivity in the Kingdom of Saudi Arabia.

• 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.

• In September 2023, Huawei Cloud announced the launch of the Huawei Cloud for the Riyadh Region. The announcement was made at the Huawei Cloud Summit held in Saudi Arabia in 2023. This region is projected to help promote digital-led financial growth in the country. The introduction of the Huawei Cloud Riyadh Region also proclaimed that the Saudi Arabia Region is projected to be Huawei Cloud's focus in porting to Central Asia, the Middle East, as well as Africa, given innovative, secure, reliable, and maintainable cloud services.

• 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 adequate performance, the Deep Learning model would need exceptional fine-tuning, a proper and reliable algorithm, hyperparameter optimization, uninterrupted training on data and testing with test data, and mighty computing power.

• After the COVID-19 pandemic, there has been significant growth in the 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.

The Saudi Arabia Big Data and Artificial Intelligence market is segmented by solutions (hardware, software, service), organization size (SMEs, large enterprises), and end-user (IT and telecom, retail, public and government institutions, BFSI, healthcare, energy, construction and manufacturing, and other end users). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Component
Hardware
Software
Service
By Organization Size
SMEs
Large Enterprises
By End User
IT and Telecom
Retail
Public and Government Institutions
BFSI
Healthcare
Energy
Construction and Manufacturing
Other End Users (Tourism, Transportation, Education etc.)
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Saudi Arabia Big Data And Artificial Intelligence Market Size Summary

The Big Data and Artificial Intelligence market in Saudi Arabia is experiencing rapid growth, driven by the increasing adoption of data-driven AI solutions and advancements in machine learning. The country's strategic initiatives, such as the deployment of high-speed broadband and 5G networks, are creating a conducive environment for AI development. Collaborations with global technology leaders, like Ericsson and Huawei, are enhancing the country's digital infrastructure, supporting sectors like e-commerce and governance. The government's investment in AI, including a substantial fund to support tech startups and AI-driven projects, aligns with Saudi Vision 2030, aiming to diversify the economy beyond oil dependency. This vision is further supported by significant investments in AI hardware and cloud computing, with major players like Oracle and AWS expanding their presence in the region.

The market is characterized by a competitive landscape with key players such as Microsoft, Nvidia, and Amazon Web Services, who are leveraging strategic partnerships and acquisitions to enhance their market position. The demand for AI technologies is particularly strong in sectors like retail and healthcare, where AI and big data analytics are being used to improve customer experiences and operational efficiencies. Initiatives like the Smart Data & AI Summit and collaborations with international companies are fostering innovation and knowledge transfer. The integration of AI in various sectors is expected to drive significant economic growth, with the market poised for substantial expansion in the coming years.

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Saudi Arabia Big Data And Artificial Intelligence Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Assessment of the impact of COVID-19 on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Component

      1. 2.1.1 Hardware

      2. 2.1.2 Software

      3. 2.1.3 Service

    2. 2.2 By Organization Size

      1. 2.2.1 SMEs

      2. 2.2.2 Large Enterprises

    3. 2.3 By End User

      1. 2.3.1 IT and Telecom

      2. 2.3.2 Retail

      3. 2.3.3 Public and Government Institutions

      4. 2.3.4 BFSI

      5. 2.3.5 Healthcare

      6. 2.3.6 Energy

      7. 2.3.7 Construction and Manufacturing

      8. 2.3.8 Other End Users (Tourism, Transportation, Education etc.)

Saudi Arabia Big Data And Artificial Intelligence Market Size FAQs

The Saudi Arabia Big Data And Artificial Intelligence Market size is expected to reach USD 0.38 billion in 2024 and grow at a CAGR of 34.24% to reach USD 2.19 billion by 2029.

In 2024, the Saudi Arabia Big Data And Artificial Intelligence Market size is expected to reach USD 0.38 billion.

Saudi Arabia Big Data And Artificial Intelligence Market Report Snapshots

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