The Growth of Generative AI in MEA’s Fintech Market

The generative AI market within the FinTech sector in the Middle East and Africa (MEA) generated a solid revenue of US $96.3 million in 2023 and is set to expand rapidly, with a projected compound annual growth rate (CAGR) of 27% from 2024 to 2030. The UAE is set to lead the growth in the region, expected to post the highest CAGR through 2030.

By 2030, the MEA region is expected to achieve a total market size of US $513.9 million, driven largely by advancements in software, which was the largest revenue-generating segment in 2023.