Saudi Arabia Big Data Analytics Market to Register a high CAGR until 2028
The rising advent of machine
learning and Artificial Intelligence (AI) and the rising penetration of social
networking platforms are expected to increase the growth of Saudi Arabia Big
Data Analytics Market during the forecast period of 2024-2028.
According
to TechSci Research report, “Saudi Arabia
Big Data Analytics Market - By Region, Competition Forecast &
Opportunities, 2018–2028,” the Saudi Arabia Big Data Analytics Market is
anticipated to register a robust growth during the forecast period, 2024-2028”.
The primary factors driving the
expansion of the Internet of Things infrastructure, expanding enterprise
networks, increasing data complexity, and advancements in data analytics
solutions are what will drive the Saudi Arabia Big Data Analytics Market. Large
amounts of data produced by dispersed devices across industrial, commercial,
and residential infrastructures are referred to as "big data.
Additionally, the Saudi Arabian Big Data
Analytics Market is expanding as a result of a movement in consumer preference
toward the use of distributed processing across clusters of computing devices
utilizing straightforward programming. Big data is expected to grow
dramatically in the upcoming years due to rising process complexity across
several organizations and a developing IT ecosystem. During the forecast
period, this is predicted to drive Saudi Arabia Big Data Analytics Market's
growth.
Additionally, the Kingdom is developing
a big data ecosystem that is hospitable to AI through supporting NEOM and other
smart city initiatives. All of these are in line with Saudi Vision 2030, which
sets forth the Kingdom's goals for transforming its towns into smart ones by
employing contemporary technology and municipal data. A contract supporting
international AI cooperation was signed in 2020 between the Saudi Data and
Artificial Intelligence Authority (SDAIA) and the UN's International
Telecommunication Union (ITU). Additionally,
Saudi Arabia promised to work with the International Telecommunication Union
(ITU) to create projects, activities, and initiatives that would encourage more
multi-stakeholder participation, international cooperation, and
knowledge-sharing to hasten the achievement of the Sustainable Development
Goals of the United Nations (SDGs). Given increased government support, a
competitive sector with a sizable number of regional businesses, and
expectations that it will the Saudi Arabia Big Data Analytics Market.
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"Saudi Arabia Big Data Analytics Market "
Saudi Arabia Big Data
Analytics Market is segmented into deployment mode, application, component, organization
size, analytics type, end use industry, region, and competitive landscape.
On the basis of deployment
mode, the on- premises expected to dominate the Saudi Arabia Big Data Analytics
Market because businesses may configure their IT infrastructure more freely and
effectively with on-premises installations, which also reduce their reliance on
the internet and protect confidential company data from fraud and theft. These
benefits are anticipated to influence major businesses to opt for on-premises
deployment. Businesses in the BFSI sector also prefer the on-premises approach
due to growing concerns over frauds such new account fraud and account
takeovers. Businesses that operate on-site are less vulnerable to these frauds,
which supports the segment's growth.
On the basis of Organization
Size, Large Enterprises are anticipated to predominate in Saudi
Arabia Big Data Analytics Market. The growth in the usage of sophisticated
analytics tools, such as business analytics and customer analytics, for
managing massive databases of assets and customers in large businesses is what
will drive the Saudi Arabia Big Data Analytics Market in 2022. In addition, a
lot of large companies are putting big data analytics to use to increase sales,
expand analytics knowledge, and improve risk management skills. Additionally,
big data analytics aids in the better understanding of the data by organizations
and the distribution of vital information to people in need.
Major
market players operating in the Saudi Arabia Big Data Analytics Market are:
- HData Systems
- Quant Data &
Analytics
- Comprehensive Technology
Company (CompTechCo)
- Oracle Corporation
- Midis Group
- SEIDOR
- Sadeem Knowledge
- Environmental Systems
Research Institute, Inc.
- SAS Institute Inc.
- Teradata Corporation
- Microsoft Corporation
- IQVIA
- Amazon Web Services Inc.
- SAP SE
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“Developing nations are aware of the
advantages of new technologies for increasing economic value. One of these
emerging nations, Saudi Arabia is investing in cutting-edge technology to
achieve its 2030 national vision. One of the newer technologies in Saudi
Arabia, particularly in the educational sector, is big data analytics. This
technology has the potential to increase businesses' ability to realize value.
Furthermore, by utilizing big data analytics technologies, the Saudi government
has improved decision-making.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management
consulting firm.
“Saudi Arabia Big Data
Analytics Market By Deployment Mode (On-Premise, Cloud and Hybrid), By
Application (Risk & Fraud Analytics, Enterprise Data Warehouse
Optimization, Internet of Things, Customer Analytics, Operational Analytics,
Security Intelligence and Others), By Component (Solutions and Services), By
Organization Size (Large Enterprises and SMEs), By Analytics Type (Descriptive
Analytics, Predictive Analytics, Prescriptive Analytics, Diagnostic Analytics),
By End Use Industry (BFSI, Healthcare, Government, IT & Telecom,
Manufacturing, Retail and Others), By Region, Competition Forecast & Opportunities, 2018-2028”, has evaluated the future growth
potential of Saudi Arabia Big Data Analytics Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Saudi Arabia Big Data Analytics Market.
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