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Uae Artificial Intelligence Market

Uae Artificial Intelligence Market

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UAE Artificial Intelligence (AI) Market, By Offerings (Software, Hardware, Services); By Technology (Deep Learning, Machine Learning (ML), Natural Language Processing (NLP), Machine Vision); By Business Function (Marketing & Sales, Human Resources, Finance & Accounting, Operations, Cybersecurity, Others); By End User (Media & Entertainment, BFSI, IT & Telecommunications, Healthcare, Automotive & Transportation, Oil & Gas, and Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: June 2024
  • Report ID: BWC24483
  • Available Format: PDF
  • Page: 200

Report Overview

The government’s significant investments in various smart city projects, supportive initiatives, and AI strategies are expected to boost the growth of UAE Artificial Intelligence (AI) Market during the forecast period between 2024 and 2030.

UAE Artificial Intelligence (AI) Market - Industry Trends & Forecast Report, 2030

UAE Artificial Intelligence (AI) Market size was estimated to be worth USD 3.18 billion in 2023. During the forecast period between 2024 and 2030, the UAE Artificial Intelligence (AI) Market size is projected to grow at a CAGR of 6.29%, reaching a value of USD 8.54 billion by 2030. Major growth factors for the UAE Artificial Intelligence (AI) Market include extensive research activities, favorable government policies and regulations for the development of AI, and the launch of various AI-based products that cater to the demand for its major end user industries, including healthcare, BFSI, and retail.

UAE Artificial Intelligence Market

Artificial Intelligence (AI) – Overview

The Artificial Intelligence (AI) Market refers to the application of AI technology, such as machine learning (ML), natural language processing (NLP), and computer vision, to various industries and sectors. It involves the development and deployment of intelligent systems and solutions that can simulate human intelligence, perform cognitive tasks, and automate complex processes. The market includes various AI-enabled products, platforms, and services, such as chatbots, virtual assistants, image recognition tools, predictive analytics solutions, and speech recognition systems, among others.

UAE Artificial Intelligence (AI) Market

Growth Drivers

Favorable Government Regulations and Policies

The UAE government has been significantly investing in establishing the country as the global center for artificial intelligence. The Advanced Technology Research Council, (ATRC), an arm of the Abu Dhabi Government, for instance, funded a deep learning algorithm training program helmed by an international team of 25 computer scientists and to be trained on 4,000 powerful computer chips, as reported by Time. The Dubai Future Foundation is also conducting the AI prompt program which is aimed to train one million people in AI prompting in the next three years. The Ruler of Abu Dhabi also recently launched the Artificial Intelligence and Advanced Technology Council to promote technological advancements and innovations in the country.

Challenges

Increasing Data Privacy and Security Concerns

AI models rely on large volumes of data, which comprise sensitive and confidential information about people, such as financial data, health records, copyrighted materials, etc., without their consent. It collects the data to provide a hyper-personalized user experience, which raises concerns surrounding potential misuse or abuse of the data. For example, without appropriate security measures, private information may be violated if unauthorized people or organizations obtain sensitive data. For example, a user's phone number may appear on the screen while responding to a prompt. This acts as a major restraining factor for the UAE Artificial Intelligence (AI) Market.

UAE Artificial Intelligence (AI) Market

Segmental Coverage

UAE Artificial Intelligence (AI) Market – By Offerings

Based on offerings, the UAE Artificial Intelligence (AI) Market is segmented into software, hardware, and services. The software segment accounts for the highest market share in the UAE AI Market by offerings. The software segment’s dominance is owing to the significant improvements in information storage capacity, strong computing power, and parallel processing capabilities that allowed for the provision of high-end services. As artificial intelligence (AI) technology develops, there will be a growing need for sophisticated and high-quality software tools and platforms due to businesses' increasing need to understand and analyze visual content to obtain insightful information.

UAE Artificial Intelligence Market Growth

UAE Artificial Intelligence (AI) Market – By Technology

Based on technology, the UAE Artificial Intelligence (AI) Market is segmented into deep learning, machine learning (ML), natural language processing (NLP), and machine vision. Deep learning holds the largest share of the UAE Artificial Intelligence (AI) Market. The growth of the segment is mainly attributed to its wide range of usage, such as image recognition, natural language processing, etc. Deep learning is extensively being used in various applications, including security systems, facial recognition, and self-driving cars, which is driving market growth.

UAE Artificial Intelligence (AI) Market – By Business Function

Based on business function, the UAE Artificial Intelligence (AI) Market is segmented into marketing & sales, human resources, finance & accounting, operations, cybersecurity, and others. The marketing & sales segment dominates the UAE Artificial Intelligence (AI) Market by business function. AI is emerging as an efficient tool to improve customer engagement, develop dynamic campaigns, produce sales, and boost return on investment (RoI). Furthermore, artificial intelligence (AI) enhances sales prospecting and lead generation through enhanced targeting, customization, decision-making, and other aspects.

Competitive Landscape

Major players operating in the UAE Artificial Intelligence (AI) Market include Omdena Inc., Microsoft, Google LLC, IBM, Intel Corporation, Daffodil Unthinkable Software Corporation, Yanzo, Digital Energy, Gleac, and CAI Concierge AI. 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 June 2024 – Presight AI Holding, an AI service management company based in the UAE, formed a partnership with Dell to boost AI and big data adoption in the country.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion

Product/ Service Segmentation

Offerings, Technology, Business Function, End User

Key Players

Omdena Inc., Microsoft, Google LLC, IBM, Intel Corporation, Daffodil Unthinkable Software Corporation, Yanzo, Digital Energy, Gleac, CAI Concierge AI

 

By Offerings

  • Software

  • Hardware

  • Services

By Technology

  • Deep Learning

  • Machine Learning (NL)

  • Natural Language Processing (NLP)

  • Machine Vision

By Business Function

  • Marketing & Sales

  • Human Resources

  • Finance & Accounting

  • Operations

  • Cybersecurity

  • Others

By End User

  • Media & Entertainment

  • BFSI

  • IT & Telecommunications

  • Healthcare

  • Automotive & Transportation

  • Oil & Gas

  • Others

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. UAE Artificial Intelligence (AI) Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Government initiatives and AI strategies
        2. Growing significant investments in smart city projects
        3. Rapid advancements in technology infrastructure
      2. Restraints
        1. Increasing data privacy and security concerns
        2. High implementation costs
        3. Shortage of shortage of skilled AI professionals
      3.  Opportunities
        1. Increasing government spending
        2. Growing industrialization in the UAE
        3. Increasing demand of Artificial Intelligence (AI) in various industries
      4. Challenges
        1. Legal and regulatory frameworks
        2. Cybersecurity concerns
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. UAE Artificial Intelligence (AI) Market: Marketing Strategies
  5. UAE Artificial Intelligence (AI) Market: Pricing Analysis
  6. UAE Artificial Intelligence (AI) Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Offerings
        1. Software
        2. Hardware
        3. Services
      2. By Technology
        1. Deep Learning
        2. Machine Learning (ML)
        3. Natural Language Processing (NLP)
        4. Machine Vision
      3. By Business Function
        1. Marketing & Sales
        2. Human Resources
        3. Finance & Accounting
        4. Operations
        5. Cybersecurity
        6. Others
      4. By End User
        1. Media & Entertainment
        2. BFSI
        3. IT & Telecommunications
        4. Healthcare
        5. Automotive & Transportation
        6. Oil & Gas
        7. Others
  7. Competitive Landscape
    1. List of Key Players and Their Products
    2. UAE Artificial Intelligence (AI) Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
  8. Impact of Escalating Geopolitical Tensions on UAE Artificial Intelligence (AI) Market
  9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
    1. Omdena Inc.
    2. Microsoft
    3. Google LLC
    4. IBM
    5. Intel Corporation
    6. Daffodil Unthinkable Software Corporation
    7. Yanzo
    8. Digital Energy
    9. Gleac
    10. CAI Concierge AI
    11. Other prominent players
  10. Key Strategic Recommendations
  11. Research Methodology
    1. Qualitative Research
      1.  Primary & Secondary Research
    2.  Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       UAE Artificial Intelligence (AI) Segmentation

Figure 2       UAE Artificial Intelligence (AI) Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       UAE Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2030

Figure 5       UAE Artificial Intelligence (AI) Market Share, By Offerings, By Value (USD Billion), 2019–2030

Figure 6       UAE Artificial Intelligence (AI) Market Share, By Technology, By Value (USD Billion), 2019–2030

Figure 7       UAE Artificial Intelligence (AI) Market Share, By Business Function, By Value (USD Billion), 2019–2030        

Figure 8       UAE Artificial Intelligence (AI) Market Share, By End User, By Value (USD Billion), 2019–2030                                       

 

List of Tables      

 

Table 1        UAE Artificial Intelligence (AI) Market Size, By Value (USD Billion), 2019–2030

Table 2        UAE Artificial Intelligence (AI) Market Share, By Offerings, By Value (USD Billion), 2019–2030

Table 3        UAE Artificial Intelligence (AI) Market Share, By Technology, By Value (USD Billion), 2019–2030

Table 4        UAE Artificial Intelligence (AI) Market Share, By Business Function, By Value (USD Billion), 2019–2030

Table 5        UAE Artificial Intelligence (AI) Market Share, By End User, By Value (USD Billion), 2019–2030 

Table 7        Omdena Inc. Company Overview

Table 8        Omdena Inc. Financial Overview

Table 9        Microsoft Company Overview

Table 6        Microsoft Financial Overview

Table 7        Google LLC Company Overview

Table 8        Google LLC Financial Overview

Table 9        IBM Company Overview

Table 10      IBM Financial Overview

Table 11      Intel Corporation Company Overview

Table 12      Intel Corporation Financial Overview

Table 13      Daffodil Unthinkable Software Corporation Company Overview

Table 14      Daffodil Unthinkable Software Corporation Financial Overview

Table 15      Yanzo Company Overview

Table 16      Yanzo Financial Overview

Table 17      Digital Energy Company Overview

Table 18      Digital Energy Financial Overview

Table 19      Gleac Company Overview

Table 20      Gleac Financial Overview

Table 21      CAI Concierge AI Company Overview

Table 22      CAI Concierge AI Financial Overview

Market Segmentation

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No data available

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Frequently Asked Questions (FAQs):

Ans: UAE Artificial Intelligence (AI) Market size was estimated at USD 3.18 billion in 2023.
Ans: UAE Artificial Intelligence (AI) Market size is expected to grow at a CAGR of 6.29% during the forecast period between 2024 and 2030.
Ans: UAE Artificial Intelligence (AI) Market size is forecast to reach a value of USD 8.54 billion by 2030.
Ans: Major factors driving the growth of the UAE Artificial Intelligence (AI) Market include government initiatives and AI strategies and growing significant investments in smart city projects.
Ans: The software segment holds the highest market share in the UAE Artificial Intelligence (AI) Market by offering.
Ans: The deep learning segment is expected to grow at the highest CAGR in the UAE Artificial Intelligence (AI) Market during the forecast period between 2024 and 2030.