Saudi Arabia Artificial Intelligence (AI) Market Expanding at a 34.08% CAGR, Total Revenue is Anticipated to Reach USD 1,43,501.3 Million by 2030 | IGR

The Infinium Global Research analyzes the Saudi Arabia Artificial Intelligence (AI) Market over the period of 2023 to 2030. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size, and future trends in Saudi Arabia artificial intelligence (AI) market. It will help a lot of decision makers to develop strategies and find new opportunities in the Saudi Arabia markets of artificial intelligence (AI). The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encourage the expansion of the artificial intelligence (AI) market during the period. The Saudi Arabia artificial intelligence (AI) market was valued at USD 13,982.4 Million in 2022 and is expected to reach USD 1,43,501.3 Million by 2030 and grow at a CAGR of 34.08% over the forecast period.

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For the past decade, AI business activity in Saudi Arabia has been relatively subdued. However, in 2018, the Kingdom made a resounding entry into the AI landscape with a significant investment of around USD 585 million in AI technologies. The growth of the Artificial Intelligence market is attributed to various factors that uniquely position Saudi Arabia for success.

Leveraging Global AI Experience: Saudi Arabia's position at the beginning of the AI maturity curve is a strategic advantage. The Kingdom is well-equipped to draw from global AI expertise, allowing it to potentially surpass other nations in the coming years. An array of exclusive industry sectors, substantial investment incentives, large-scale transformation initiatives, a young and dynamic population, smart city development, and changes in governance are among the primary drivers of AI growth in Saudi Arabia.

Rapid Rise of AI Startups: The Saudi Arabian AI startup ecosystem has experienced significant growth, with the number of active AI startups increasing from zero to 21 between January 2015 and 2018. The National Transformation Program 2020, aligned with Vision 2030, plays a pivotal role in the Kingdom's AI ecosystem development.

Saudi Arabia's Vision 2030 and National AI Strategy: Saudi Arabia's Vision 2030 places substantial emphasis on data and artificial intelligence as drivers of economic diversification. The Kingdom's multibillion-dollar strategy, launched in November 2020, aims to make Saudi Arabia a global leader in AI, attracting foreign and local investments of up to $20 billion by 2030. It seeks to rank among the top 15 AI nations, train 20,000 data and AI specialists, and incubate at least 300 AI and data startups.

Partnerships with global tech giants, including IBM, Alibaba, and Huawei, demonstrate Saudi Arabia's commitment to advancing AI. Collaborations with the International Telecommunication Union (ITU) further strengthen the Kingdom's efforts to harness AI for sustainable development.

Challenges and Opportunities: Despite the promising landscape, the shortage of skilled AI professionals remains a challenge. However, collaborative initiatives like the National Center for Artificial Intelligence's (NCAI) partnership with IBM and Huawei aim to address this skills gap, providing long-term solutions.

In addition to AI growth in healthcare and agriculture, Saudi Arabia is witnessing a surge in its manufacturing sector. With a predicted year-on-year growth of 7.5% until 2018, the Kingdom is embracing smart technologies, automation, and AI to enhance efficiency, making it a prominent global player in manufacturing.

As Saudi Arabia continues to digitize and invest in AI, it is essential for the nation to develop its workforce with the necessary digital skills to fulfill its vision for a data and AI-driven economy.

Key Players: Leading companies in the Saudi Arabia AI market include Siemens AG, Huawei Technologies Co. Ltd, Oracle, IBM Corp, and Microsoft Corp.

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Table of Content

Chapter 1 Introduction

1.1 Report Description

1.1.1 Segmentation and Research Scope

1.1.2 Definition, Abbreviations, and Assumptions

1.2 Research Methodology

1.2.1 Methodology

1.2.2 Research Methodology: An Outline

1.3 Research Approaches

Chapter 2 Executive Summary

2.1 Saudi Arabia Artificial Intelligence (AI) Market Projection

Chapter 3 Market Overview & Competitiveness

3.1 DRO Analysis

3.1.1 Drivers

3.1.1.1 Saudi Arabia's Vision 2030 and launch of National Artificial Intelligence Strategy in Saudi Arabia to facilitate the growth of the Artificial Intelligence industry in Saudi Arabia

3.1.1.2 Growing implementation of AI in the agriculture and healthcare sector in Saudi Arabia

3.1.2 Challenge

3.1.2.1 Shortage of skilled professionals to challenge the growth of the Artificial Intelligence industry in Saudi Arabia

3.1.3 Opportunities

3.1.3.1 Growing acceptance of technologies such as smart factories within the Kingdom of Saudi Arabia

3.2 Impact of the COVID 19 Pandemic on Saudi Arabia Artificial Intelligence (AI) Market

3.3 Porter's Diamond Model for Saudi Arabia Artificial Intelligence (AI) Market

3.4 PEST Analysis for Saudi Arabia Artificial Intelligence (AI) Market

3.5 IGR- Growth Matrix Analysis

Chapter 4 Saudi Arabia Artificial Intelligence Market, By Offering

4.1 Overview

4.2 Hardware

4.3 Software

4.4 Services

Chapter 5 Saudi Arabia Artificial Intelligence Market, By Technology

5.1 Overview

5.2 Natural Language Processing (NLP)

5.3 Context-Aware Computing

5.4 Computer Vision

5.5 Machine Learning

5.5.1 Supervised Learning

5.5.2 Deep Learning

5.5.3 Reinforcement Learning

5.5.4 Unsupervised Learning

5.5.5 Other Machine Learnings

5.6 Other Technologies

Chapter 6 Saudi Arabia Artificial Intelligence Market, By Application

6.1 Overview

6.2 Surveillance

6.3 Cybersecurity

6.4 Marketing

6.5 Chatbots

6.6 Human Resource Management

6.7 Other Applications

Chapter 7 Saudi Arabia Artificial Intelligence Market, By End-user

7.1 Overview

7.2 Automotive & Transportation

7.3 Retail and E-commerce

7.4 Manufacturing

7.5 Healthcare

7.6 Agriculture

7.7 BFSI

7.8 IT & Telecom

7.9 Media and Entertainment

7.10 Other End Users

Chapter 8 Company Profiles and Competitive Landscape

8.1 Competitive landscape

8.1.1 The Saudi Arabia Artificial Intelligence Industry comprises of several new industry startups such as:

8.2 Company Profiles

8.2.1 Siemens AG

8.2.1.1 Overview

8.2.1.2 Company Overview

8.2.1.3 Product Portfolio

8.2.1.4 Recent Development

8.2.2 Huawei Technologies Co., Ltd.

8.2.2.1 Overview

8.2.2.2 Company Overview

8.2.2.3 Product Portfolio

8.2.2.4 Recent Development

8.2.3 Microsoft Arabia

8.2.3.1 Overview

8.2.3.2 Company Overview

8.2.3.3 Product Portfolio

8.2.4 IBM Middle East FZ-L. L.C

8.2.4.1 Overview

8.2.4.2 Company Overview

8.2.4.3 Product Portfolio

8.2.5 Oracle Corporation

8.2.5.1 Overview

8.2.5.2 Company Overview

8.2.5.3 Product Portfolio

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Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of Saudi Arabia Artificial Intelligence (AI).

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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