Gcc Artificial Intelligence Market
GCC Artificial Intelligence (AI) Market, By Solution (Hardware, Software, Services); By Technology (Deep Learning (DL), Machine Learning (ML), Natural Language Processing (NLP), Machine Vision); By End Use (Healthcare, BFSI, Law, Retail, Advertising & Media); By Country (Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, Oman), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: August 2023
- Report ID: BWC23696
- Available Format: PDF
- Page: 200
Report Overview
Increasing investments in artificial intelligence (AI) systems, a rapid surge in the demand for intelligent systems, and high adoption of cloud technology are projected to propel the expansion of the GCC artificial intelligence (AI) market during the forecast period between 2023 and 2029.GCC Artificial Intelligence (AI) Market - Industry Trends & Forecast Report, 2029
GCC artificial intelligence (AI) market size was estimated at USD 8.6 billion in 2022. During the forecast period between 2023 and 2029, the size of GCC artificial intelligence (AI) market is projected to grow at a CAGR of 11.21% reaching a value of USD 16.2 billion by 2029. Major growth drivers for the GCC artificial intelligence (AI) market include increased investments, governments’ supportive initiatives, and a strong focus on digital transformation. The market size has been expanding as AI applications penetrate various industries and sectors. Governments in the GCC region have recognized the transformative potential of AI and have launched ambitious initiatives to promote its adoption. These initiatives focus on AI research, fostering innovation, and creating a conducive regulatory environment for AI-driven technologies. The GCC countries are keen on embracing Industry 4.0 principles, which involve the integration of AI, IoT (Internet of Things), and advanced automation technologies. This integration enhances manufacturing processes, supply chain management, and overall operational efficiency. Another driving force is with the proliferation of digital technologies, massive amounts of data are being generated in the GCC region. AI thrives on data, and the availability of large datasets enables the development of more robust and accurate AI models. Also, there has been a notable increase in investments from both public and private sectors in AI startups, research centers, and AI-based solutions. This influx of funding is driving innovation and accelerating AI deployment across various sectors.
GCC Artificial Intelligence Market – Overview
The GCC artificial intelligence (AI) Market refers to the economic ecosystem and activities related to the development, deployment, and adoption of AI technologies and solutions within the Gulf Cooperation Council (GCC) region. The GCC consists of six Middle Eastern countries: Saudi Arabia, United Arab Emirates (UAE), Kuwait, Qatar, Bahrain, and Oman. The market encompasses various aspects, including AI research, investments in AI startups and companies, governments’ supportive initiatives promoting AI adoption, AI-related products and services offered by businesses, and the integration of AI technologies into various industries and sectors. The aim is to leverage AI's capabilities to drive digital transformation, enhance operational efficiency, improve customer experiences, and address complex challenges in healthcare, finance, transportation, energy, and other industries within the GCC region.
GCC Artificial Intelligence (AI) Market
Growth Drivers
Rising Interest and Investments in AI across Middle East
Governments and enterprises in the Middle East are awakening to the transformative potential of AI and cutting-edge technologies. The region is witnessing a profound shift as AI emerges as a game-changer, driving the creation of groundbreaking services and entirely novel business paradigms. Businesses are actively reorienting their strategies to capitalize on the burgeoning demand for AI-driven solutions and services, leading to a dynamic landscape of innovation and opportunity across various sectors in the Middle East. The region's growing investments in artificial intelligence systems reflect the commitment to embrace the future of technology and harness its vast potential.
Accelerated Adoption of Cloud Technology and AI for Enhanced Business Operations
The cloud technology has emerged as a transformative approach to deliver computing services. Organizations are proactively adapting to changing consumer demands through technological advancements, innovation, and digitalization. Cloud services are playing a pivotal role in revolutionizing business operations through efficient managed services. With a focus on real-time insights, businesses are embracing cloud technologies to streamline data management and processing. The integration of AI in the cloud environment has further bolstered performance and efficiency, driving enterprise digital transformation. By harnessing AI capabilities in cloud computing, businesses are unlocking enhanced operational efficiency, strategic decision-making, and deeper insights, all while enjoying the added benefits of flexibility, agility, and cost savings.
Restraints
Cost Barrier May Hinder Growth of GCC Artificial Intelligence (AI) Market
The GCC artificial intelligence (AI) market faces a growth constraint due to the high implementation costs associated with AI solutions. Despite the region's growing interest in AI, the expenses involved in developing, integrating, and deploying AI technologies hinder widespread adoption. The initial investments required to implement AI systems, such as hardware, software, and specialized expertise, can be substantial, posing a challenge for many businesses and organizations in the GCC. Additionally, ongoing maintenance and upgrades further contribute to the overall cost of AI implementation. Addressing the cost barrier and finding cost-effective AI solutions will be crucial in unlocking the full potential of AI-driven advancements in the GCC region.
Impact of COVID-19 on GCC Artificial Intelligence (AI) Market
COVID-19 pandemic had a mixed impact on the GCC artificial intelligence (AI) market. On the one hand, it accelerated the adoption of AI technologies in healthcare for diagnostics, drug discovery, and patient care. AI-powered chatbots also played a crucial role in providing information and support during the crisis. On the other hand, the pandemic disrupted supply chains, leading to a temporary slowdown in AI investments in non-essential sectors. However, the crisis highlighted AI's potential in addressing challenges, driving the region's focus towards AI-driven solutions for resilience and digital transformation. Post-pandemic, the GCC AI market rebounded and continued its growth trajectory.
GCC Artificial Intelligence (AI) Market
Segmental Coverage
GCC Artificial Intelligence (AI) Market – By Solution
By solution, the GCC artificial intelligence (AI) market is divided into Hardware, Software, and Services segments. The software segment held the highest market share in 2022 by solution due to remarkable advancements in information storage capacity, robust computing power, and parallel processing capabilities, enabling the delivery of high-end services. The ability to extract data, offer real-time insights, and support decision-making has positioned the software segment at the forefront of market dominance. AI software solutions encompass a wide range of libraries designed to develop and implement AI applications, including primitives, linear algebra, inference, sparse matrices, video analytics, and various hardware communication capabilities. The growing need for enterprises to comprehend and analyze visual content to gain meaningful insights is expected to drive the adoption of AI software in the forecast period. To optimize operational costs and drive higher profits, businesses are increasingly embracing AI services. Artificial Intelligence as a Service (AIaaS) has become a crucial tool for companies seeking a competitive edge through cloud-based AI capabilities. AI services encompass installation, integration, maintenance, and support tasks, and this segment is projected to witness significant growth in the coming years. Within AI hardware, chipsets like GPUs (Graphics Processing Units), CPUs, application-specific integrated circuits (ASICs), and field-programmable gate arrays (FPGAs) play a pivotal role. Presently, GPUs and CPUs dominate the AI hardware market due to their unparalleled computing capabilities, which are essential for AI frameworks.
GCC Artificial Intelligence (AI) Market – By Technology
Based on technology, the GCC artificial intelligence (AI) market is divided into Deep Learning (DL), Machine Learning (ML), Natural Language Processing (NLP), and Machine Vision segments. The deep learning (DL) segment held the highest share in the GCC artificial intelligence market in 2022, due to its ability to process large and complex datasets, enabling accurate pattern recognition and delivering sophisticated AI applications with exceptional precision and efficiency. The machine learning (ML) segment holds the second highest share in the GCC artificial intelligence (AI) market due to its versatility in training models on vast data sets, empowering businesses with effective predictive and analytical capabilities for enhanced decision-making and problem-solving. Also, the natural language processing (NLP) segment is expected to witness fastest growth rate during the forecast period. This is attributed to its ability to understand, interpret, and generate human language. As the region embraces digital transformation and AI-driven applications, NLP enables seamless interactions between humans and machines, enhancing customer experiences, automating tasks, and extracting valuable insights from textual data. The increasing demand for chatbots, voice assistants, sentiment analysis, and language translation services across various sectors is propelling the adoption of NLP technologies in the GCC region.
GCC Artificial Intelligence (AI) Market – By End Use
On the basis of end use, the GCC artificial intelligence (AI) market is divided into Healthcare, BFSI, Law, Retail, and Advertising & Media segments. The advertising & media segment holds the highest share in the GCC artificial intelligence (AI) market by end use due to AI's transformative impact on the industry. AI-powered technologies enable targeted advertising, personalized content recommendations, and precise audience analysis, optimizing marketing strategies for better engagement and conversion rates. Automated content generation, sentiment analysis, and image recognition further enhance media operations, streamlining workflows and improving content relevance. Additionally, AI-driven data analytics provide valuable insights into consumer behavior and preferences, empowering advertisers and media companies to tailor campaigns and offerings. The segment's significant growth is fueled by the region's increasing digitalization and the recognition of AI's potential in revolutionizing advertising and media practices.
GCC Artificial Intelligence (AI) Market – By Region
The in-depth research report on the GCC artificial intelligence (AI) market covers the AI market in all the six GCC countries: Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman. Saudi Arabia dominates the GCC artificial intelligence (AI) market due to its proactive approach in fostering AI adoption. The country has invested heavily in AI research, development, and initiatives, aligning with its Vision 2030 goals. The government’s support, strategic partnerships with global AI leaders, and a thriving ecosystem have attracted substantial investments and talent. Saudi Arabia's focus on integrating AI across sectors, including healthcare, finance, and smart cities, has propelled its AI market growth. Additionally, the country's commitment to AI education and nurturing local talent has positioned it as a regional leader, driving AI innovations and solutions across industries.
Competitive Landscape
Major players operating in the GCC artificial intelligence (AI) market include Meta, Amazon Web Services, Inc., Microsoft, Samsung Electronics Co., Ltd, IBM Corporation, Google, Baidu, Inc., Cbot, Cisco Systems, Inc., CSP Solution, Dece Software Inc., Dilenytech, Huawei Technologies Co., Ltd, Hyperlink Infosystem, and Intel Corporation. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
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In March 2022 - SAP SE inaugurated SAP Labs Singapore, an innovative digital hub aimed at nurturing local digital talent, fostering community engagement, and spearheading product leadership. SAP Labs Singapore marks a pioneering initiative by SAP in the Southeast Asia (SEA) region, focusing on advancing cutting-edge digital supply chain solutions, intelligent business networks, and sustainability initiatives. Notably, the hub will also facilitate the acceleration of deep technologies, including artificial intelligence (AI) and machine learning (ML). The establishment of SAP Labs Singapore is expected to strengthen SAP's presence in the region and reinforce its commitment to driving digital transformation and technological innovations.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, Oman |
Product/ Service Segmentation |
Solution, Technology, End Use, Region |
Key Players |
Meta, Amazon Web Services, Inc., Microsoft, Samsung Electronics Co., Ltd, IBM Corporation, Google, Baidu, Inc., Cbot, Cisco Systems, Inc., CSP Solution, Dece Software Inc., Dilenytech, Huawei Technologies Co., Ltd. Hyperlink Infosystem, Intel Corporation |
By Solution
-
Hardware
-
Software
-
Services
By Technology
-
Deep Learning (DL)
-
Machine Learning (ML)
-
Natural Language Processing (NLP)
-
Machine Vision
By End Use
-
Healthcare
-
BFSI
-
Law
-
Retail
-
Advertising & Media
By Country
-
Saudi Arabia
-
UAE
-
Qatar
-
Bahrain
-
Kuwait
-
Oman
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- GCC Artificial Intelligence (AI) Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Growing Investments in Artificial Intelligence Systems
- Rise in Demand for Intelligent Systems
- Rising Adoption of Cloud Technology
- Restraints
- High Implementation Cost of Artificial Intelligence (AI) Solutions
- Opportunities
- Growth in Ethical AI Development to Boost Adoption of AI Technology
- Challenges
- Lack of Technical Expertise
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- GCC Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- Hardware
- Software
- Services
- By Technology
- Deep Learning (DL)
- Machine Learning (ML)
- Natural Language Processing (NLP)
- Machine Vision
- By End Use
- Healthcare
- BFSI
- Law
- Retail
- Advertising & Media
- By Country
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
- By Solution
- Market Size & Forecast by Value, 2019–2029
- Saudi Arabia Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- By Technology
- By End Use
- Market Size & Forecast by Value, 2019–2029
- UAE Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- By Technology
- By End Use
- Market Size & Forecast by Value, 2019–2029
- Qatar Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- By Technology
- By End Use
- Market Size & Forecast by Value, 2019–2029
- Bahrain Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- By Technology
- By End Use
- Market Size & Forecast by Value, 2019–2029
- Kuwait Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- By Technology
- By End Use
- Market Size & Forecast by Value, 2019–2029
- Oman Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- By Technology
- By End Use
- Market Size & Forecast by Value, 2019–2029
- Rest of GCC Artificial Intelligence (AI) Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Solution
- By Technology
- By End Use
- Market Size & Forecast by Value, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Covid-19 on GCC Artificial Intelligence (AI) Market
- Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Meta
- Amazon Web Services, Inc
- Microsoft
- Samsung Electronics Co., Ltd.
- IBM Corporation
- Baidu, Inc.
- Cbot
- Cisco Systems, Inc.
- CSP Solution
- Dece Software Inc.
- Dilenytech
- Huawei Technologies Co., Ltd.
- Hyperlink Infosystem
- Intel Corporation
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
*Financial information of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
Figure 1 GCC Artificial Intelligence (AI) Market Segmentation
Figure 2 GCC Artificial Intelligence (AI) Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 GCC Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2029
Figure 5 GCC Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019–2029
Figure 6 GCC Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019–2029
Figure 7 GCC Artificial Intelligence (AI) Market Share, By End Use, By Value, 2019–2029
Figure 8 GCC Artificial Intelligence (AI) Market Share, By Country, By Value, 2019–2029
Figure 9 Saudi Arabia Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2029
Figure 10 Saudi Arabia Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019–2029
Figure 11 Saudi Arabia Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019–2029
Figure 12 Saudi Arabia Artificial Intelligence (AI) Market Share, By End Use, By Value, 2019–2029
Figure 13 UAE Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2029
Figure 14 UAE Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019–2029
Figure 15 UAE Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019–2029
Figure 16 UAE Artificial Intelligence (AI) Market Share, By End Use, By Value, 2019–2029
Figure 17 Qatar Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2029
Figure 18 Qatar Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019–2029
Figure 19 Qatar Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019–2029
Figure 20 Qatar Artificial Intelligence (AI) Market Share, By 1Technology, By Value, 2019–2029
Figure 21 Bahrain Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2029
Figure 22 Bahrain Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019–2029
Figure 23 Bahrain Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019–2029
Figure 24 Kuwait Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2029
Figure 25 Kuwait Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019–2029
Figure 26 Kuwait Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019–2029
Figure 27 Kuwait Artificial Intelligence (AI) Market Share, By End Use, By Value, 2019–2029
Figure 28 Oman Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2029
Figure 29 Oman Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019–2029
Figure 30 Oman Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019–2029
Figure 31 Oman Artificial Intelligence (AI) Market Share, By End Use, By Value, 2019–2029
Figure 32 Rest of GCC Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019−2029
Figure 33 Rest of GCC Artificial Intelligence (AI) Market Share, By Solution, By Value, 2019−2029
Figure 34 Rest of GCC Artificial Intelligence (AI) Market Share, By Technology, By Value, 2019−2029
Figure 35 Rest of GCC Artificial Intelligence (AI) Market Share, By End Use, By Value, 2019−2029
List of Tables
Table 1 GCC Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019–2029
Table 2 GCC Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019–2029
Table 3 GCC Artificial Intelligence (AI) Market Size, By End Use, By Value, 2019–2029
Table 4 GCC Artificial Intelligence (AI) Market Size, By Country, By Value, 2019–2029
Table 5 Saudi Arabia Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019–2029
Table 6 Saudi Arabia Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019–2029
Table 7 Saudi Arabia Artificial Intelligence (AI) Market Size, By End Use, By Value, 2019–2029
Table 8 UAE Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019–2029
Table 9 UAE Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019–2029
Table 10 UAE Artificial Intelligence (AI) Market Size, By End Use, By Value, 2019–2029
Table 11 Qatar Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019–2029
Table 12 Qatar Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019–2029
Table 13 Qatar Artificial Intelligence (AI) Market Size, By1Technology, By Value, 2019–2029
Table 14 Bahrain Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019–2029
Table 15 Bahrain Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019–2029
Table 16 Kuwait Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019–2029
Table 17 Kuwait Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019–2029
Table 18 Kuwait Artificial Intelligence (AI) Market Size, By End Use, By Value, 2019–2029
Table 19 Oman Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019–2029
Table 20 Oman Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019–2029
Table 21 Oman Artificial Intelligence (AI) Market Size, By End Use, By Value, 2019–2029
Table 22 Rest of GCC Artificial Intelligence (AI) Market Size, By Solution, By Value, 2019−2029
Table 23 Rest of GCC Artificial Intelligence (AI) Market Size, By Technology, By Value, 2019−2029
Table 24 Rest of GCC Artificial Intelligence (AI) Market Size, By End Use, By Value, 2019−2029
Table 25 Meta Company Overview
Table 26 Meta Financial Overview
Table 27 Amazon Web Services, Inc Company Overview
Table 28 Amazon Web Services, Inc Financial Overview
Table 29 Microsoft Company Overview
Table 30 Microsoft Financial Overview
Table 31 Samsung Electronics Co., Ltd. Company Overview
Table 32 Samsung Electronics Co., Ltd. Financial Overview
Table 33 IBM Corporation Company Overview
Table 34 IBM Corporation Financial Overview
Table 35 Google Company Overview
Table 36 Google Financial Overview
Table 37 Baidu, Inc. Company Overview
Table 38 Baidu, Inc. Financial Overview
Table 39 Cbot Company Overview
Table 40 Cbot Financial Overview
Table 41 Cisco Systems, Inc. Company Overview
Table 42 Cisco Systems, Inc. Financial Overview
Table 43 CSP Solution Company Overview
Table 44 CSP Solution Financial Overview
Table 45 Dece Software Inc. Company Overview
Table 46 Dece Software Inc. Financial Overview
Table 47 Dilenytech Company Overview
Table 48 Dilenytech Financial Overview
Table 49 Huawei Technologies Co., Ltd. Company Overview
Table 50 Huawei Technologies Co., Ltd. Financial Overview
Table 51 Hyperlink Infosystem Company Overview
Table 52 Hyperlink Infosystem Financial Overview
Table 53 Intel Corporation Company Overview
Table 54 Intel Corporation Financial Overview
Market Segmentation
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