According to the report by Expert Market Research (EMR), the Saudi Arabian big data and artificial intelligence (AI) market reached USD 1.30 billion in 2023. Driven by widespread digital transformation initiatives, the market is expected to grow at a CAGR of 29.8% from 2024 to 2032, reaching USD 13.58 billion.
Increasing Adoption Across Sectors
Big data and AI are significantly reshaping the Saudi Arabian economy. They are particularly influential in sectors such as healthcare, finance, energy, and government services. These technologies enable data-driven decisions, operational efficiency, and improved customer experiences.
Key Sector Enhancements in Healthcare and Finance
In healthcare, big data and AI help analyze medical data, predict disease outbreaks, and personalize patient care. In finance, these technologies redefine fraud detection, risk management, and customer service.
Energy Sector and Government Integration
The energy sector optimizes oil and gas production and improves sustainability through big data and AI. Government applications enhance public services, security, and smart city initiatives like NEOM.
Factors Driving Growth
The Saudi market benefits from increased data availability, technology advancements, and growing needs for efficiency and automation. Government support via investments and partnerships with global tech firms propels market growth.
Retail, Cybersecurity, and Agriculture
Retail is experiencing a digital shift, favoring e-commerce and online shopping. Big data and AI optimize supply chains and predict consumer trends, while enhancing cybersecurity by detecting and preventing breaches.
In agriculture, precision farming, crop yield predictions, and resource management rely on these technologies, contributing to food security and sustainability.
Manufacturing and Fintech Innovations
Industry 4.0 in manufacturing is driven by big data and AI, enhancing automation, predictive maintenance, and supply chain optimization. The fintech sector flourishes, with innovations like robo-advisors, algorithmic trading, and advanced fraud detection.
Smart Cities and Infrastructure
Smart city projects, such as NEOM, drive the adoption of big data and AI technologies for urban planning, traffic management, and energy optimization. The expansion of 5G networks facilitates faster data transmission, essential for real-time AI implementations.
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