GCC Artificial Intelligence (AI) Market Market Forecast Report 2019 – 2026 – Top Key Players Analysis
Artificial intelligence isan approach to building computer programs that aim to perform tasks that wouldrequire human intelligence. AI is a study of how the human brain thinks,learns, decide, and work to solve problems. AI is a combination of severaltechnologies such as machine learning and deep learning leading to the creationof intellectualhardware and software that accomplished by problem-solving, reasoning,perception, linguistic intelligence, and learning. It is also reshapingeconomies, enhancing productivity, improving efficiency, and lowering costs bycreating a conceptual change in virtually every sector of the technologyindustry.
GCC isevolving rapidly and observing a drastic modification with AI technologies,especially in countries like the UAE and Saudi Arabia. The growing number ofinternet users and connected devices are driving the market growth of AI inthis region. Governments in the GCC region are pushing the AI agenda to becomea global leader in the technology along with increasing investments by thegovernment and private sector, which is paving the way for AI during theforecast period. For instance, in Oct 2017, the UAE Government launched the UAEStrategy for AI to boost productivity and performance, especially in the fieldof education, transportation, energy, and technology. Several multinational companiesare acquiring artificialintelligence start-ups resulting in an expansion ininvestments in the field of AI. Increasing consumer demand for higher-qualityand personalized AI-enhanced products and services will further fuel the marketgrowth of AI in GCC. In addition, rising investments in smart cities areleading to the demand for AI in the market. In Oct 2017, Saudi Arabiagovernment announced an investment of $500 billion in megacity project “NEOM”in the county, the technologies involved in this project are AI, big data, andIoT. However, stringent government policy for data security and theunreliability of AI algorithms are hampering the market growth.
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Various notable players inthe GCC AI market includeMicrosoft Corporation, Google LLC, IBM Corporation, Intel Corporation,Facebook, Inc., NVIDIA Corporation, Qualcomm International, Inc, FusionInformatics Limited, Stallion.ai, Accubits Technologies (UAE), CogTalk andamong others.
The GCC AI market hasbeen segmented based on offering, technology, and end-user. Based on theoffering market is categorized into hardware, software, and services. On thebasis of technology, the market is segmented into Machine Learning, NaturalLanguage Processing (NLP), Deep Learning, Machine Vision, and others. Based onthe application market is segmented into Indoor and Outdoor. Based on theend-user, the market is categorized into Healthcare, BFSI, Retail,Manufacturing, Automotive & Transportation, Agriculture, Manufacturing,Media & Entertainment, and Others.
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Key questions answered in this research report:
1- At what pace is the GCC AI market growing?What will be a growing trend in the future?
2- What are the key drivers and restraints inthe current market? What will be the impact of drivers and restraints in thefuture?
3- What are the various application areas andhow they are poised to grow?
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