Saudi Arabia Machine Learning Market
Growing Technological Innovations & Adoption of Automate Decision-Making Using Tools
Growing technological advancements improve system accuracy and drive market expansion. People engage with various machine learning-based systems, including voice recognition, picture recognition, and recommender systems. For instance, the national carrier of Saudi Arabia announced its plans to incorporate voice recognition and virtual reality into its services during the second Global A.I. Summit, which was conducted in Riyadh. The accuracy of voice recognition systems has quickly raised the support of technology, which has fueled the demand for machine learning in many applications.
Massive amount of data is analyzed through machine learning. Identifying potentially dangerous risks and lucrative possibilities often produces faster and more precise data. Machine learning (ML) can be made even more efficient at processing huge amounts of data and information by combining it with artificial intelligence and smart computing.
In Saudi Arabia, organizations automate decision-making using tools based on machine learning. They are currently experimenting with increasingly complex applications of artificial intelligence (A.I.) for digital transformation. While enhancing employee engagement and rising consumer loyalty, machine learning is allowing businesses to increase their top-line growth and improve procedures using ML.
Latest Investments in Robotics and Autonomous Vehicles
The machine learning market has indeed grown due to the integration of machine learning in robots. Robotics has undergone several developments because of the fast evolution of sensor technology and materials. For instance, according to PricewaterhouseCoopers, Saudi Arabia's artificial intelligence and robotics industry is expected to generate more than $135.2 billion, or 12.4% of the nation's gross domestic product, by 2030.
According to SAE International, when a driver activates driver support features on a car, the vehicle's driving levels go from 0 to 2, as reported by the Saudi Press Agency (SPA) in an electronic issue for the Saudi Data and A.I. Authority (SDAIA). The rise of ML machine learning has enhanced robots' capacity to provide projects like self-governing cars and aircraft. Owing to this, the market is likely to grow in the forecast period.
One of the beneficial trends of machine learning is forecasting renewable energy sources and generated electricity. The need for forecasting has arisen in the energy and utilities sector due to the nature of the dominant renewable energy sources, like wind and solar, which are variable and dependent on outside factors. Wind speed and solar radiation intensity, however, are never consistent. To preserve the balance between energy supply and demand, companies in the machine learning sector are offering their software and services to energy and utility firms.
Lack of Skilled Employees Hindering Market Growth
However, the lack of skilled employees with analytical talent and the growing need for individuals who can monitor analytical material is the main challenge that most firms have when adopting machine learning into their business processes. Privacy issues have eclipsed every development and new algorithm ever since the advent of big data. The same is true for machine learning, which simply learns to think for itself by analyzing big data. These are some of the main issues hindering the market's rise.
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Market Segmentation
Market player
The leading market players in the
Recent Developments
When the Saudi Data and Artificial Intelligence Authority (SDAIA) was founded by royal order in August 2019 to spearhead the country's transformation into a data-driven economy, the policy-making process started in the previous year.
One of the largest A.I. conferences in the world said that, the event, which was organized by the SDAIA (Saudi Data and Artificial Intelligence Authority), included more than 200 speakers and business leaders from more than 90 nations who presented their original ideas in around 100 sessions over the course of three days. Additionally, the conference attracted approximately 21,000 online attendees in addition to around 15,000 in-person delegates.
Attribute | Details |
Base Year | 2022 |
Historic Data | 2018– 2021 |
Estimated Year | 2023 |
Forecast Period | 2024 – 2028 |
Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR for 2018-2021 and 2024-2027 |
Report coverage | Revenue forecast, company share, growth factors, and trends |
Segments covered | · Deployment Model · Organization Size · Services · Application |
Regional scope | Makkah, Riyadh, Eastern Province, Rest of Saudi Arabia. |
Key companies profiled | UnitX Technologies, Quant data & analytics, Lucidya LLC, Hazen.ai, Machine Learning KSA, Wakeb_Data, Komodo Consulting, Arpeggio, INTDV, Ohjiya Grou |
Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
