Saudi Arabia Big Data and Artificial Intelligence Market Report and Forecast 2024-2032

Saudi Arabia Big Data and Artificial Intelligence Market Outlook

Saudi Arabia big data and artificial intelligence market size reached approximately USD 1.30 billion in 2023. The market is projected to grow at a CAGR of 29.8% between 2024 and 2032, reaching a value of around USD 13.58 billion by 2032.

Key Trends in the Market

Big data and artificial intelligence are some of the latest technologies utilised for business analytics, data analytics, and automation. Big data usually refers to sets of structured or unstructured data that are massive in size. These data sets are complex in structure, making them tough to solve through conventional methods. Artificial intelligence is a division of computer science where a simulation of human intelligence is created through programming and large datasets.

• The Saudi Arabia big data and artificial intelligence market growth is being propelled by the rising interest in automation, which has surged investments in the latest technologies such as artificial intelligence and machine learning. The government is also increasing its focus on the deployment of advanced systems for the automation of various sectors.

• The rising number of development plans for smart cities is another major trend in the market. With the emergence of 5G networking technology and the commencement of projects such as the line mega city in Saudi Arabia, the Saudi Arabia big data and artificial intelligence market demand is expected to rise during the forecast period.

• Substantial educational reforms are being introduced in the country to ensure that students can acquire better knowledge about the latest technologies and establish themselves in emerging fields such as artificial intelligence, data science, and blockchain, among others. Hence, one of the crucial Saudi Arabia big data and artificial intelligence market trends is increasing collaboration between the country’s government with private institutes to ensure proper implementation of the changes.

Market Analysis

Based on components, the market is segmented into hardware, software, and service. The Saudi Arabia big data and artificial intelligence market segmentation, based on technology, includes deep learning, machine learning, natural language processing (NLP), and machine vision. The market, based on organisation size, is divided into SMEs and large enterprises. Based on end use, the market divisions include IT and telecom, retail, public and government institutions, BFSI, healthcare, energy, and construction and manufacturing, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Saudi Arabia big data and artificial intelligence market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Microsoft Corporation

• Amazon Web Services, Inc. 

• Intel Corporation 

• NVIDIA Corporation 

• IBM Corporation 

• Oracle Corporation 

• SAP SE 

• IQVIA Inc. 

• NEC Corporation 

• SAS Institute Inc. 

• Others

Market Share by Component

According to the Saudi Arabia big data and artificial intelligence market analysis, the software segment is expected to experience significant growth during the forecast period. Artificial intelligence software is likely to be increasingly implemented in construction projects such as mega-smart cities. Besides, the oil and gas sector in the country has already established itself as one of the prominent users of big data and artificial intelligence to improve productivity and real-time data analysis.

Market Share by End-Use

Public and government institutions are likely to account for a major portion of Saudi Arabia big data and artificial intelligence market share. Within the Middle East, Saudi Arabia is poised to emerge as a frontrunner, driven by its substantial investments in novel technologies and advancements in smart city initiatives. The government's commitment to adopting innovative solutions and fostering smart city growth is anticipated to play a pivotal role in driving the expansion of the overall market in the coming years.

Competitive Landscape

Microsoft Corporation, established in 1975, is considered to be a prominent technological enterprise that has developed a diverse array of software products, services, devices, and solutions. The different types of products in its portfolio include operating systems, server applications, software development tools, business solutions, desktop and server management tools, as well as video games.

Intel Corporation, founded in 1968, is a renowned American technology company that focuses on the development and production of a wide range of hardware and software products. The company is particularly recognised for its central processing units (CPUs), which serve as the brains of many computers and electronic devices worldwide.

Amazon Web Services, Inc., commonly known as AWS, is a pioneer company providing a comprehensive suite of cloud computing services. Founded in 2006, AWS's offerings encompass a diverse range of services, including computing power, storage solutions, databases, machine learning capabilities, analytics, content delivery, and more.

Other Saudi Arabia big data and artificial intelligence market players include NVIDIA Corporation, IBM Corporation, Oracle Corporation, SAP SE, IQVIA Inc., NEC Corporation, and SAS Institute Inc., among others.

Key Highlights of the Report