Middle East & Africa Artificial Intelligence Market Size & Outlook
Middle East & Africa artificial intelligence market, 2017-2030 (US$M)
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MEA artificial intelligence market highlights
- The MEA artificial intelligence market generated a revenue of USD 11,920.3 million in 2023.
- The market is expected to grow at a CAGR of 45.7% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating solution in 2023.
- Services is the most lucrative solution segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 11,920.3 million |
| Market revenue in 2030 | USD 166,328.1 million |
| Growth rate | 45.7% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | Advanced Micro Devices Inc, AiCure, ARM Holdings PLC ADR, Baidu Inc ADR, Alphabet Inc Class A, International Business Machines Corp, Intel Corp, Microsoft Corp, NVIDIA Corp |
Other key industry trends
- In terms of revenue, MEA region accounted for 6.1% of the global artificial intelligence market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 734,756.7 million by 2030.
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Artificial Intelligence Market Scope
Artificial Intelligence Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa artificial intelligence market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to artificial intelligence market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 35.89% in 2023. Horizon Databook has segmented the Middle East & Africa artificial intelligence market based on hardware, software, services covering the revenue growth of each sub-segment from 2017 to 2030.
Various cities in the MEA region are actively embracing AI to build smart and sustainable urban environments. AI finds application in traffic management, energy optimization, and public safety, fostering more efficient and secure cities.
With its diverse linguistic landscape, the Middle East and Africa (MEA) region significantly emphasizes advancing Arabic language processing in AI technologies. This includes natural language processing (NLP) and speech recognition capabilities that can accurately interpret and generate Arabic text and speech.
The MEA region's governments promote AI through various initiatives, policies, and funding programs. National AI strategies aim to support AI research, development, and adoption to drive economic growth and innovation.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa artificial intelligence market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa artificial intelligence market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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MEA artificial intelligence market size, by country, 2017-2030 (US$M)
Middle East & Africa Artificial Intelligence Market Outlook Share, 2023 & 2030 (US$M)
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