Saudi Arabia Artificial
Intelligence Market is anticipated to grow at a rapid pace during the
forecast period, 2024-2028, Saudi Arabia's AI market is expanding as
more end-use industries, including healthcare, BFSI, and manufacturing, adopt
cutting-edge technologies to improve research and development efforts. The
government is also putting more of an emphasis on creating an ecosystem that is
friendly to AI, which will include the deployment of 5G networks. Government is
taking initiative to diversity Saudi Arabia economy to reduce dependency on oil
and gas sector. Under vision 2030 government of Saudi Arabia will invest in AI
by 2030 to develop AI sector in the country.
Additionally, Saudi Arabia is
developing a 5G and high-speed broadband ecosystem that encompasses data
access, security, and data access. Through numerous smart city programs like
NEOM, it is also encouraging early adoption of AI and Big data concepts and
technologies in order to catalyze creative solutions.
The AI Policy is an integral
part of Saudi Arabia's Vision 2030 Policy, which outlines the nation's
intentions for creating sustainable cities and ensuring the best possible use
of resources in infrastructure, urban planning, and important economic sectors.
Additionally, the Saudi Arabia’s government sought to use AI to increase automation
and administrative efficiency.
Artificial intelligence (AI) is
a branch of computer science that focuses on building smart machines that
behave and act like people. The replication of human intelligence processes by
machines like computer systems is what is referred to as artificial
intelligence (AI),. Speech recognition, problem-solving, planning, and learning
are a few of the tasks or processes that computers with artificial intelligence
are meant to perform. While reasoning employs rules to arrive at approximations
of conclusions with self-correction, learning includes the acquisition of
information and rules for employing it. A growing number of people are
interested in artificial intelligence, thanks to greater data quantities,
advancements in processing and storage, and sophisticated algorithms.
National Artificial Intelligence
Strategy in Saudi Arabia to facilitate the growth of the Artificial
Intelligence industry in Saudi Arabia
Artificial intelligence and data
are given a lot of attention in Saudi Arabia's Vision 2030. The Saudi Data and
Artificial Intelligence Authority (SDAIA) states that Saudi Arabia's Vision
2030 has specific objectives to make KSA cities into smart cities by maximizing
the value of municipal data as a national asset to achieve Vision 2030 goals.
In an effort to diversify its oil-based economy, Saudi Arabia started a
strategy in November 2020 to become a global leader in artificial intelligence
(AI). According to the National Strategy for Data and Artificial Intelligence (NSDAI)
declaration that by 2030 they are expected to attract USD 20 billion in
investments from both domestic and foreign sources.
The strategy, which was released
at the Global AI Summit in Riyadh, lays out a multifaceted plan with a special
emphasis on the development of skills and ecosystems, policy and regulation,
investment, research, and innovation. On top of that, during the summit in the
kingdom, the SDAIA signed memorandums of understanding with IBM, Alibaba, and
Huawei in the field of artificial intelligence (AI). Furthermore, a Memorandum
of Understanding was signed by the SDAIA and the International
Telecommunication Union (ITU), a specialised agency of the United Nations, to
work together on initiatives aimed at bolstering and supporting efforts to
maximize the advantages of AI technologies and applications for sustainable
development.
This new approach will put an
emphasis on closing the skills gap, energising the market through research and
innovation, and utilising AI applications for both public and private sector
organisations. The Saudi Arabian artificial intelligence sector will increase
over the foreseeable years as a result of the implementation of the country's
national artificial intelligence policy, which aims to make Saudi Arabia a global
leader in artificial intelligence (AI) and data by 2030.
In order to become one of the
top AI and data-driven economies by 2030, Saudi Arabia also wants to change its
attention from creating specialties in particular areas of AI to laying the
groundwork for a competitive worldwide AI ecosystem between 2025 and 2030.
Growing implementation of AI in
the agriculture and healthcare sector in Saudi Arabia
One of the Kingdom's majors
intends is to increase domestic food production. As a result, businesses are
looking into new ways to use technology to connect with growers and farmers. In
order to support real-time decision-making for yield monitoring, crop health
monitoring, field mapping, irrigation scheduling, and harvesting management,
businesses have begun to place a greater emphasis on technology. The Ministry
of Environment, Water, and Agriculture is committed to adopting drones and
artificial intelligence to increase the agriculture sector's productivity and
operational efficiency. As a result, it is anticipated that the usage of AI in
agriculture and agricultural initiatives would increase. Additionally, Saudi
Arabia is advancing the economy to become a data- and AI-driven economy by
encouraging cutting-edge technologies in the healthcare sector. Saudi Arabia
has also teamed with Philips as part of the country's aim to become a leader in
artificial intelligence (AI) healthcare, as AI-based health technology
solutions offer enormous potential to improve patient outcomes and the
effectiveness of care delivery. The Saudi Data and Artificial Intelligence
Authority (SDAIA) and Royal Philips have teamed together to promote the
Kingdom's ambition to lead the development of artificial intelligence (AI) in
the healthcare industry. As a result, Saudi Arabia's expanding reforms in the
healthcare and agricultural sectors will open up enormous potential
opportunities for AI. In order to construct a center for innovation and
knowledge as well as relevant training programmes in the region, IQVIA teamed
up with the Saudi Data and Artificial Intelligence Authority (SDAIA) to work on
joint ideas and research in data and artificial intelligence. To explore
innovation prospects in the field of health data in the Kingdom of Saudi Arabia
(KSA), they inked an agreement with the government body.
In April 2021 - Microsoft Corp.
invested a sizable sum of money on artificial intelligence for the healthcare
industry when it acquired Nuance Communications Inc., a speech technology
business, for USD 19.7 billion in cash.
Due to growing government
expenditures in cutting-edge technology, Saudi Arabia is anticipated to be one
of the Middle Eastern region's top nations in the artificial intelligence and
big data sector. As a result, AI will be crucial to the development of the
nation's automation industry.
Download Free Sample Report
Market Segmentation
Saudi Arabia Artificial
Intelligence Market is divided into Component, Technology, Application,
Enterprise Size, Industry Vertical, Region and Competitive Landscape. Based on
component, the market is divided into Hardware, Software, Solution. Based on
Technology the market is segmented into Natural Language Processing (NLP),
Context-aware Computing, Computer Vision, Machine Learning, Others. Based on
application the market is segmented into Surveillance, Cybersecurity, Marketing,
Chatbots, Human Resource Management, Others. Based on Enterprise Size, the
market is segmented into SMEs, and Large Enterprises. Based on Industry
Vertical, the market is segmented into IT and Telecom, Retail, Public and
Government Institutions, BFSI.
Market Players
Major market players in the
Saudi Arabia Artificial Intelligence Market are Huawei Technologies Co., Ltd.,
Siemens AG, Microsoft Arabia, Oracle Corporation, Alphabet Inc., Intel
Corporation, Samsung Saudi Arabia Company Limited, Advanced Micro Devices,
NVIDIA Corporation, and others.
Recent Development
- Saudi FDA Approves Siemens Healthineers'
New AI-Rad Companion Solution. By automatically post-processing imaging
datasets using AI-powered algorithms, the Siemens Healthineers AI-Rad
Companion series of AI powered imaging solutions helps to lessen the
strain of repeated chores and can improve diagnostic accuracy when
interpreting medical pictures. The Saudi Food and Drug Authority's (SFDA)
recent clearance of the system attests to its outstanding clinical quality
and safety.
- The National Centre for Artificial
Intelligence (NCAI) of Saudi Arabia has announced an agreement with Huawei
of China to collaborate strategically on the nation's National AI
Capability Development Programme. In accordance with the MoU, Huawei will
assist the NCAI in educating Saudi AI engineers and students as well as
addressing AI-related Arabic language capabilities. The development of an
AI Capability Platform to localize technological solutions will also be
investigated by NCAI and Huawei. In order to help Saudi university
students, AI researchers, and AI developers learn AI technologies and
tools, NCAI and Huawei will also investigate the National AI Talent
nurturing and onboarding program..
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018 –
2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028
|
|
Report coverage
|
Revenue
forecast, company share, growth factors, and trends
|
|
Segments covered
|
Component
Technology
Application
Enterprise Size
Industry Vertical
Region
|
|
Regional scope
|
Eastern
Region, Northern & Central Region, Western
Region, Southern Region
|
|
Key companies profiled
|
Huawei Technologies Co., Ltd., Siemens AG, Microsoft Arabia,
Oracle Corporation, Alphabet Inc., Intel Corporation, Samsung Saudi Arabia
Company Limited, Advanced Micro Devices, NVIDIA Corporation, and others.
|
|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report Scope:
In this report, the Saudi Arabia
Artificial Intelligence Market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Saudi Arabia Artificial Intelligence
Market,By Component:
- Hardware
- Software
- Solution
- Saudi Arabia Artificial Intelligence
Market,By Technology:
- Natural Language
Processing (NLP)
- Context-aware Computing
- Computer Vision
- Machine Learning
- Others
- Saudi Arabia Artificial Intelligence
Market,By Application:
- Surveillance
- Cybersecurity
- Marketing
- Chatbots
- Human Resource Management
- Others
- Saudi Arabia Artificial Intelligence
Market, By Enterprise Size:
o Large
Enterprises
o Small
& Medium Enterprises (SMEs)
- Saudi Arabia Artificial Intelligence
Market, By Industry Vertical:
o IT
and Telecom
o Retail
o Public
and Government Institutions
o BFSI
- Saudi Arabia Artificial Intelligence
Market, By Region:
o Eastern
Region
o Northern
& Central Region
o Western
Region
o Southern
Region
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Saudi Arabia Artificial
Intelligence Market.
Available Customizations:
With the given market data, Tech
Sci Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Saudi Arabia Artificial
Intelligence Market is an upcoming report to be released soon. If you wish
an early delivery of this report or want to confirm the date of release, please
contact us at [email protected]