GCC Artificial Intelligence (AI) Market

Artificial intelligence is an approach to building computer programs that aim to perform tasks that would require human intelligence. AI is a study of how the human brain thinks, learns, decide, and work to solve problems. AI is a combination of several technologies such as machine learning and deep learning leading to the creation of intellectual hardware and software that accomplished by problem-solving, reasoning, perception, linguistic intelligence, and learning. It is also reshaping economies, enhancing productivity, improving efficiency, and lowering costs by creating a conceptual change in virtually every sector of the technology industry.

GCC is evolving rapidly and observing a drastic modification with AI technologies, especially in countries like the UAE and Saudi Arabia. The growing number of internet users and connected devices are driving the market growth of AI in this region. Governments in the GCC region are pushing the AI agenda to become a global leader in the technology along with increasing investments by the government and private sector, which is paving the way for AI during the forecast period. For instance, in Oct 2017, the UAE Government launched the UAE Strategy for AI to boost productivity and performance, especially in the field of education, transportation, energy, and technology. Several multinational companies are acquiring artificial intelligence start-ups resulting in an expansion in investments in the field of AI. Increasing consumer demand for higher-quality and personalized AI-enhanced products and services will further fuel the market growth of AI in GCC. In addition, rising investments in smart cities are leading to the demand for AI in the market. In Oct 2017, Saudi Arabia government announced an investment of $500 billion in megacity project “NEOM” in the county, the technologies involved in this project are AI, big data, and IoT. However, stringent government policy for data security and the unreliability of AI algorithms are hampering the market growth.

Various notable players in the GCC AI market include Microsoft Corporation, Google LLC, IBM Corporation, Intel Corporation, Facebook, Inc., NVIDIA Corporation, Qualcomm International, Inc, Fusion Informatics Limited, Stallion.ai, Accubits Technologies (UAE), CogTalk and among others.

The GCC Artificial Intelligence (AI) market is segmented into technology, offering, and end-user. Based on the offering, the market has been segmented into hardware, software, and services. Based on the technology, the market has been segmented into machine learning, natural language processing (NLP), machine vision, and others. Based on the end-user, the market has been segmented into healthcare, BFSI, retail, manufacturing, automotive, agriculture, media & entertainment, and others.

Key questions answered in this research report:

• •  At what pace is the GCC AI market growing? What will be a growing trend in the future?
  •  What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  •  What are the various application areas and how they are poised to grow?

Market Segmentation

GCC Artificial Intelligence (AI) Market by Offering

• • Hardware
  • Software
  • Services

GCC Artificial Intelligence (AI) Market by Technology

• • Machine Learning
    • Deep Learning
    • Others
  • Natural Language Processing (NLP)
  • Machine Vision
  • Others

GCC Artificial Intelligence (AI) Market by End-User

• • Healthcare
  • BFSI
  • Retail
  • Manufacturing
  • Automotive & Transportation
  • Agriculture
  • Media & Entertainment
  • Others