Saudi Arabia Big Data Market Size Zooming 7.2X at Robust CAGR of 32.6% to Touch Whopping Value of USD 2.23 Billion by 2030

Published | 25 June 2024

Saudi Arabia Big Data Market is booming due to rapid digital transformation, the government’s supportive initiatives, increasing investments in IT infrastructure, spurring demand for big data analytics, and heightening focus on operational efficiencies.

BlueWeave Consulting, a leading strategic consulting, and Market research firm, in its recent study, estimated the Saudi Arabia Big Data Market size by value at USD 0.31 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Saudi Arabia Big Data Market size to expand at a CAGR of 32.6% reaching a value of USD 2.23 billion in 2030. Increasing sensitive data use drives demand for stronger security measures. Businesses rely more on big data, fueling the need for advanced security against cyber threats. Tech advances provide real-time threat detection for proactive defense. Compliance awareness in Saudi Arabia aligns with global standards, boosting data security adoption. Collaborative approaches address market needs, driving innovation in big data security.

Opportunity – Growing Big Data Adoption in Healthcare

In Saudi Arabia, leveraging big data in healthcare drives growth by enhancing patient care, reducing costs, and improving public health outcomes through proactive risk prediction and mitigation based on patients' medical histories. This aligns with the Saudi Vision 2030, fostering innovations and increasing demand for data-driven healthcare solutions in the Kingdom.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Big Data Market  

Escalating geopolitical tensions could significantly impact the growht of the Saudi Arabia Big Data Market. Increased instability might deter vital foreign investments and collaborations. Uncertainty may disrupt supply chains, hindering technology procurement for data analytics. Legal changes driven by geopolitics may impose compliance burdens and curb operational efficiency. Rising tensions could prioritize national security over economic diversification efforts, stifling growth and strategic planning in the big data sector. These geopolitical changes present both challenges and opportunities for the Saudi Arabia Big Data Market, which requires a coherent strategy to support growth in a changing world.

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Saudi Arabia Big Data Market  

Segmental Coverage

Saudi Arabia Big Data Market – By Offerings

Based on offerings, Saudi Arabia Big Data Market is divided into Hardware, Software, and Service segments. Hardware is the largest segment in the Saudi Arabia Big Data Market by offerings. The AI hardware sector, encompassing companies like Amazon, Apple, Baidu, and Google, invests billions in developing AI technologies, requiring powerful computer hardware, advanced algorithmic models, and a rapidly growing database for success. For instance, in February 2023, Oracle invested USD 1.5 billion in Saudi Arabia to meet cloud computing demand, focusing on AI, Machine Learning, and IoT technologies. This investment is expected to fuel economic growth and digital transformation, as part of Saudi Vision 2030.

Saudi Arabia Big Data Market – By End User

Based on end users, Saudi Arabia Big Data Market is divided into BFSI, Manufacturing, Healthcare, Government, Energy & Utilities, Transportation, Retail & E-commerce, IT & Telecom, and Education segments. The retail & E-commerce is the largest end user segment in the Saudi Arabia Big Data Market. AI technologies are expected to drive significant growth in the retail sector, especially in the Middle East retail market. These technologies enable retailers to understand customer needs, improve user experience, and enhance operations like product search ranking and merchandising placements. AWS and NVIDIA have collaborated to develop scalable AI infrastructures, focusing on next-generation GPUs and AWS networking. This collaboration enhances personalized experiences in Saudi Arabia.

Competitive Landscape

Saudi Arabia Big Data Market is fiercely competitive. Major companies in the market include Microsoft Corporation, Nvidia Corporation, Amazon Web Services Inc., SAP SE, Intel Corporation, Oracle Corporation, IQVIA, Nala.ai, IBM Corporation, NEC Corporation, SAS Institute Inc., Teradata Corporation, and Qliks. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Saudi Arabia Big Data Market.

Don’t miss the business opportunity Saudi Arabia Big Data Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Saudi Arabia Big Data Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in Saudi Arabia Big Data Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the Market.

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