MENA AI Market Size (2023-2033)
22 April 2024•
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MENA is experiencing like in many other regions an important surge in AI adoption. The MENA AI market, valued at approximately US $17.31 billion in 2023, is projected to expand dramatically to US $702.77 billion by 2033, marking a staggering compound annual growth rate (CAGR) of 44.83% over the next decade.
This growth is strongly driven by regional governments that are promoting AI development through strategic initiatives, incentives, and infrastructure enhancements, thereby creating an ideal environment for AI innovation. A notable recent example is Saudi Arabia's announcement in March 2024 of a $40 billion AI technology fund.
Additionally, the drive towards AI is further fuelled by digital transformation across various industries in MENA where companies are increasingly using AI to boost efficiency and competitiveness. The region's rich data resources also provide a solid foundation for the development of sophisticated AI applications.
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We are a team of passionate Researchers, Data Junkies, and Story-Tellers that believe there is not enough quality business insights and compelling data analysis available in the marketplace, told in the formats users want. We want to give an insider's look into the industries, businesses and economies that are changing the world today, so our users can become inspired, empowered and equipped to run their businesses as best they can.
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