Report Overview

Rapid adoption of emerging technologies, including AI, 5G, and machine learning, their tools, and applications is projected to fuel the growth of the Saudi Arabia Big Data Market during the forecast period between 2024 and 2030.

Saudi Arabia Big Data Market – Industry Trends & Forecast Report, 2030

Saudi Arabia Big Data Market size by value was estimated at USD 0.31 billion in 2023. During the forecast period between 2024 and 2030, the Saudi Arabia Big Data Market size is expected to expand at a CAGR of 32.6% reaching a value of USD 2.23 billion by 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.

Big Data – Overview

Big data is the processing of enormous, diverse, and rapidly generated data using new technologies to improve decision-making, knowledge discovery, and process optimization. It emphasizes the value of data quality and integrity. Big data is defined as data that is too large, quick, or complex for typical processing methods. Its main application is to store and analyze massive amounts of data. It comprises data sets that outperform the capabilities of typical tools, with a concentration on unstructured data amid structured and semi-structured categories. Big Data tools like Hadoop, Spark, and NoSQL databases analyze vast datasets in industries like healthcare, finance, and marketing, considering volume, velocity, variety, and veracity.

Saudi Arabia Big Data Market

Growth Drivers

Government Fostering AI-friendly Ecosystem

The Saudi government is creating an AI-friendly ecosystem through programs such as NEOM, which encourages early AI use and Big Data principles. The Saudi Development Authority (SDAIA) collaborates with the International Telecommunication Union (ITU) to strengthen AI cooperation and promote Big Data integration. These projects aim to improve government efficiency, urban planning, and economic diversification, ultimately transforming Saudi cities into smart cities and making the Kingdom a global leader in AI.

Challenges

Privacy Concerns, Complying with GDPR, and Shortage of Skilled Workforce

The Saudi Arabia Big Data Analytics Market, despite significant growth, faces challenges including data privacy issues, GDPR compliance, and a shortage of skilled professionals. Organizations are creating training programs to address this gap. Future expansion is expected with technologies like edge computing and blockchain. The integration of Big Data Analytics into core business processes is expected to enhance innovation and global competitiveness.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Big Data Market

Escalating geopolitical tensions could significantly impact 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.

Saudi Arabia Big Data Market

Segmental Coverage

Saudi Arabia Big Data Market – By Offerings

On the basis of 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 Data Type

Based on data type, Saudi Arabia Big Data Market is divided into On-premises and Cloud segments. The cloud-based data type holds a higher share in the Saudi Arabia Big Data Market. The increasing adoption of cloud computing solutions across industries and the growing volume of data stored and processed in the cloud. For example, Huawei Cloud launched its cloud services in Saudi Arabia's Riyadh Region in September 2023, aiming to promote digital-led financial growth. The region will be Huawei Cloud's focus in Central Asia, the Middle East, and Africa, offering innovative, secure, reliable, and maintainable cloud service.

Saudi Arabia Big Data Market – By Enterprise Size

Based on enterprise size, Saudi Arabia Big Data Market is divided into SMEs and large enterprises size. The large enterprises segment is expected to record significant growth, due to their significant data generation and processing capacity, increased security risk vulnerability, and financial resources, invest in robust security systems, advanced technologies, and dedicated security teams.

Saudi Arabia Big Data Market – By Application

Based on application, Saudi Arabia Big Data Market is divided into Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Spatial Analytics, Workforce Analytics, Risk & Credit Analytics, and Transportation Analytics segments. The customer analytics application is the largest in Saudi Arabia Big Data Market, focusing on understanding consumer behavior and trends to enhance customer satisfaction and optimize marketing strategies. The segment spans various sectors like retail, telecommunications, finance, and healthcare, playing a crucial role in driving competitive advantage and operational efficiencies, shaping business decisions, and fostering sustainable growth in the Saudi Arabia Big Data Market.

Saudi Arabia Big Data Market – By End User

By end user, 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

Major players in the Saudi Arabia Big Data 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 Qlik. 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

• In April 2024 – Noventiq Holdings PLC, a digital transformation and cybersecurity solutions provider, partnered with Al-Suwaiket Group to expand its market, portfolio, and sales channels in Saudi Arabia. The partnership aims to enhance the digital capabilities of Saudi companies by offering cybersecurity and Data & AI services, including proprietary AI solutions like Weaver AI, Fintense, and Selecta.

Scope of the Report

By Offerings

• Hardware

• Software

• Service

By Data Type

• On-premises

• Cloud

By Enterprises Size

• SMEs

• Large Enterprises

By Application

• Customer Analytics

• Supply Chain Analytics

• Marketing Analytics

• Pricing Analytics

• Spatial Analytics

• Workforce Analytics

• Risk & Credit Analytics

• Transportation Analytics

By End User

• BFSI

• Manufacturing

• Healthcare

• Government

• Energy & Utilities

• Transportation

• Retail & E-commerce

• IT & Telecom

• Education