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Saudi Arabia Machine Learning Market, Competition Forecast & Opportunities, 2023-2028: Integration Of ML, Empowered Decision Making & Investments in Robotics And Autonomous Vehicles Fuels Growth - ResearchAndMarkets.com
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DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Machine Learning Market, By Deployment Model (Cloud and On-Premises), By Organization Size (SMEs & Large Enterprises), By Services (Professional Services and Managed Services), By Application, By Region, Competition Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Machine Learning Market is anticipated to grow robustly in the forecast period 2023-2028
Integration of Machine Intelligence Fuels Machine Learning Market Growth in Saudi Arabia
Saudi Arabia is witnessing a compelling market trend marked by the seamless integration of machine intelligence with analytics-driven solutions. Robust investments in artificial intelligence (AI) and the advancement of self-driving vehicles are catalyzing the expansion of the machine learning market in the country. Machine learning, a pivotal component of AI, empowers machines to replicate intelligent behaviors, further elevating Saudi Arabia's technological landscape.
Technological Innovation and Adoption of Automated Decision-Making Drive Expansion
The surge in technological innovations is elevating system accuracy and propelling the machine learning market forward. Individuals are increasingly engaging with diverse machine learning-based systems, encompassing voice recognition, image recognition, and recommender systems.
A notable illustration comes from Saudi Arabia's national carrier, which announced plans to integrate voice recognition and virtual reality into its services at the second Global A.I. Summit in Riyadh. The remarkable accuracy of voice recognition systems has garnered substantial technological support, stimulating the demand for machine learning across various applications.
Empowering Data Analysis and Automated Decision-Making
Machine learning's capabilities shine as vast volumes of data undergo analysis. Swift identification of potential risks and lucrative opportunities is facilitated with exceptional accuracy through machine learning. Moreover, coupling machine learning with AI and smart computing enhances its prowess in processing massive data sets and information, bolstering data-driven insights and decision-making processes.
Machine Learning Paves the Way for Automated Decision-Making
In Saudi Arabia, enterprises are adopting automated decision-making tools empowered by machine learning. Organizations are progressively exploring intricate applications of AI for digital transformation, thereby enhancing employee engagement, elevating consumer loyalty, and achieving top-line growth through streamlined processes.
Investments in Robotics and Autonomous Vehicles Fuel Expansion
The integration of machine learning in robots is propelling the machine learning market's growth trajectory. Robotics is undergoing rapid advancements due to breakthroughs in sensor technology and materials. Notably, Saudi Arabia's artificial intelligence and robotics sector is poised to contribute over USD 135.2 billion, constituting 12.4% of the nation's GDP by 2030, as projected by PricewaterhouseCoopers. The demand for advanced robotic systems spanning industries like automotive, electronics, food and beverage, and healthcare is further catalyzing market expansion.
Elevating Driving Levels and Forecasting Renewable Energy
Machine learning's ascendancy has elevated the capabilities of robots, including self-driving cars and aircraft. The collaboration of Saudi Data and A.I. Authority (SDAIA) and SAE International revealed that when a driver activates driver support features, the vehicle's driving level transitions from 0 to 2.
Meanwhile, the machine learning sector's invaluable contribution extends to forecasting renewable energy sources, essential for maintaining energy supply-demand equilibrium in the dynamic energy and utilities sector.
Overcoming Challenges for Sustained Market Growth
However, the journey towards machine learning's proliferation isn't devoid of challenges. The scarcity of skilled employees proficient in analytical acumen poses a significant hurdle for businesses aiming to integrate machine learning into their operations.
Additionally, privacy concerns loom large, encompassing the responsible use of big data for algorithmic learning, thereby warranting careful consideration and strategic solutions to foster responsible and sustainable market growth.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Machine Learning Market.
- UnitX Technologies
- Quant data & analytics
- Lucidya LLC
- Hazen.ai
- Machine Learning KSA
- Wakeb_Data
- Komodo Consulting
- Arpeggio
- INTDV
- Ohjiya Group
Report Scope:
Saudi Arabia Machine Learning Market, By Deployment Model:
- Cloud
- On-Premises
Saudi Arabia Machine Learning Market, By Organization Size:
- SMEs
- Large Enterprises
Saudi Arabia Machine Learning Market, By Services:
- Professional Services
- Managed Services
Saudi Arabia Machine Learning Market, By Application:
- BFSI
- Government & Defense
- Healthcare
- Retailer
- IT & Telecommunication
- Manufacturing
- Others
Saudi Arabia Machine Learning Market, By Region:
- Makkah
- Riyadh
- Eastern Province
- Rest of Saudi Arabia
For more information about this report visit https://www.researchandmarkets.com/r/tcfwbu.
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First published on Thu, Aug 17, 2023
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