UAE Artificial Intelligence (AI) Market Size Set to Expand at Significant CAGR of 6.29% to Reach USD 8.54 Billion by 2030

Published | 29 June 2024

UAE Artificial Intelligence (AI) Market is flourishing because of the government’s supportive initiatives and AI strategies and growing significant investments in smart city projects.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the UAE Artificial Intelligence (AI) Market size at USD 3.18 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the UAE Artificial Intelligence (AI) Market size to expand at a CAGR of 6.29% reaching a value of USD 8.54 billion by 2030. The launch of numerous AI-based products that meet the needs of its major end user industries, such as healthcare, BFSI, and retail, as well as extensive research activities and supportive government policies and regulations for the development of AI are major growth factors for the UAE Artificial Intelligence Market over the forecast period.

Opportunity: Rising use of AI across various sectors

The UAE Artificial Intelligence (AI) Market, based on end user, is segmented into media & entertainment, BFSI, IT & telecommunications, healthcare, automotive & transportation, oil & gas, and others. The IT & telecommunications segment dominates the UAE Artificial Intelligence (AI) Market. The increased use of the cloud post the COVID-19 pandemic outbreak resulted in the generation of large volumes of data, which accelerated the need for improved and higher processing, which boosted the adoption of AI in the sector. Following IT & telecom, the healthcare end user segment is also growing at a high rate owing to its rising use in providing accurate diagnoses of patients.

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UAE Artificial Intelligence Market

Segmental Coverage

UAE Artificial Intelligence Market – By Technology

On the basis of technology, the UAE Artificial Intelligence (AI) Market is segmented into deep learning, machine learning, natural language processing (NLP), and machine vision. The deep learning segment holds the largest share of the UAE Artificial Intelligence (AI) Market by technology. The growth of the segment is mainly attributed to its wide range of usage, such as image recognition and natural language processing (NLP). Deep learning is extensively being used in various applications, including security systems, facial recognition, and self-driving cars, which is driving market growth.

Competitive Landscape

Major players operating in the UAE Artificial Intelligence (AI) Market include Omdena Inc., Microsoft, Google LLC, IBM, Intel Corporation, Daffodil Unthinkable Software Corporation, Yanzo, Digital Energy, Gleac, and CAI Concierge AI. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the UAE Artificial Intelligence (AI) 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 the UAE Artificial Intelligence (AI) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the UAE Artificial Intelligence (AI) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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