GCC Artificial Intelligence Market

Market Overview:

The GCC artificial intelligence market size reached US$ 7.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.7 Billion by 2032, exhibiting a growth rate (CAGR) of 13.88% during 2024-2032.

Artificial intelligence (AI) refers to a branch of computer science designed to replicate human intelligence for performing numerous operations in real-time. It is widely adopted for diverse applications, such as visual perception, voice and handwriting recognition, decision-making, language translation, etc. Artificial intelligence offers several benefits, including improved accuracy, better adaptability, enhanced productivity, higher time-efficiency, etc. As a result, it finds extensive usage across several end-use industries, such as trade, defense, automobile, transportation, healthcare, banking, construction, etc.

In the GCC region, the rising internet connectivity along with the increasing penetration of IoT-based smart devices is primarily driving the demand for artificial intelligence. Furthermore, the growing digitization across diverse industry verticals, such as telecommunication, retail, construction, BFSI, etc., is also augmenting the utilization of artificial intelligence for analyzing large data volumes. Additionally, the rising integration of image recognition technology with optical character identification is further propelling the demand for artificial intelligence in drones, self-driving cars, and robots. Moreover, several organizations in the region are getting inclined towards cloud-computing tools incorporated with AI to process accurate real-time data and improve the overall productivity. Apart from this, the emergence of e-commerce platforms in the GCC region has led to the increasing deployment of AI-based algorithms for extracting specific insights to provide better customer engagement. Additionally, the growing development of smart infrastructures coupled with the rising preferences towards AI-based virtual assistants is also bolstering the market growth across the GCC countries. Moreover, various government organizations are heavily investing in the expansion of 5G networking, which will further continue to drive the GCC market for artificial intelligence over the forecast period.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the GCC artificial intelligence market report, along with forecasts at the regional and country levels from 2024-2032. Our report has categorized the market based on type, solutions, system, technology and end use industry.

Breakup by Type:

• Narrow/Weak Artificial Intelligence
• General/Strong Artificial Intelligence
   

Breakup by Solutions:

• Hardware
• Software
• Service
   

Breakup by System:

• Intelligence Systems
• Decision Support Processing
• Hybrid Systems
• Fuzzy Systems
   

Breakup by Technology:

• Natural Language Processing
• Machine Learning
• Computer Vision
• Context-Aware Computing
• Others
   

Breakup by End Use Industry:

• Banking, Financial Services and Insurance (BFSI)
• Technology, Media and Telecommunication
• Transportation and Logistics
• Energy, Mining and Utilities
• Retail and Wholesale Trade
• Construction and Manufacturing
• Education and Healthcare
• Others
   

Breakup by Country:

• United Arab Emirates
• Saudi Arabia
• Oman
• Qatar
• Kuwait
• Bahrain
   

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Accubits Technologies, Amazon Web Services, Inc.(Amazon.com Inc.), Cogtalk, Facebook Inc, Fusion Informatics Limited, Google LLC (Alphabet Inc.), Intel Corporation, Microsoft Corporation, Nvidia Corporation, Oracle Corporation, Qualcomm Incorporated, Samsung Electronics Co. Ltd, SAP Middle East & North Africa LLC(SAP SE) and Siemens Middle East Limited (Siemens Ag).

Report Coverage:

Key Questions Answered in This Report:

• How has the GCC artificial intelligence market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC artificial intelligence market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the solutions?
• What is the breakup of the market based on the system?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the GCC artificial intelligence market and who are the key players?
• What is the degree of competition in the industry?