Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 245 Million

Market Size (2029)

USD 1523.24 Million

CAGR (2024-2029)

35.4%

Fastest Growing Segment

Cloud-Based

Largest Market

Riyadh


Market Overview

Saudi Arabia AI in Retail and E-commerce Market has valued at USD 245 Million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 35.4% through 2029F. Saudi Arabia's retail and e-commerce sector is rapidly evolving with the integration of artificial intelligence (AI) technologies. AI is transforming the customer experience, streamlining operations, and enhancing decision-making processes for businesses. In the retail landscape, AI-powered chatbots and virtual assistants have become common, providing personalized assistance to customers and driving engagement. Recommendation engines powered by AI algorithms analyze customer preferences, offering tailored product suggestions that boost sales and customer satisfaction. Supply chain management has also greatly benefited from AI in e-commerce. Predictive analytics and machine learning optimize inventory management, reducing costs and ensuring product availability. Moreover, AI-driven data analytics enable retailers to gain valuable insights into consumer behavior, helping them make informed decisions on pricing, marketing, and inventory strategies. In addition, AI is enhancing fraud detection and cybersecurity measures, safeguarding sensitive customer data. The Saudi Arabian government's commitment to technology adoption and innovation is fostering a favorable environment for AI growth, making it a promising market for businesses in the retail and e-commerce sectors looking to leverage AI to drive efficiency, competitiveness, and customer-centric solutions. As the adoption of AI continues to expand, businesses that embrace these technologies will likely gain a competitive edge in the Saudi Arabian retail and e-commerce market.

Key Market Drivers

Government Support and Initiatives

Saudi Arabia's government has been actively promoting technological advancements, including artificial intelligence, as a key driver of economic growth. Vision 2030, the country's ambitious economic diversification plan, includes specific goals to encourage AI adoption in various sectors, including retail and e-commerce. The government's commitment to creating a thriving digital ecosystem is evident through initiatives like the National Data and Artificial Intelligence Authority (NDAIA). This regulatory body is responsible for overseeing AI development and data governance, providing a clear framework for businesses to operate within. Additionally, the government has offered financial incentives, grants, and support to startups and established businesses to facilitate the integration of AI technologies. These initiatives create a conducive environment for AI innovation in the retail and e-commerce sectors, driving digital transformation and economic development.

Changing Consumer Behavior and Expectations

Saudi consumers are becoming increasingly tech-savvy and connected, with growing expectations for convenience, personalization, and seamless shopping experiences. AI technologies enable retailers to meet these evolving demands effectively. Chatbots and virtual assistants provide round-the-clock customer support, while recommendation engines offer tailored product suggestions, enhancing the overall shopping experience. Moreover, AI-driven analytics enable businesses to gain insights into consumer behavior, helping them refine their marketing strategies and product offerings. As consumer expectations continue to evolve, AI will be a critical tool for retailers and e-commerce platforms to stay competitive and meet the demands of the Saudi market.

Enhanced Supply Chain Management

Enhanced supply chain management serves as a key driver propelling the Saudi Arabia AI in Retail and E-commerce Market. In a rapidly evolving market, characterized by growing consumer demands, unpredictable shifts in purchasing patterns, and the expansion of e-commerce, efficient supply chain operations are critical for business success. AI technologies, such as predictive analytics and machine learning, are leveraged to optimize supply chain processes. By analyzing historical data and real-time information, AI-driven algorithms facilitate accurate demand forecasting, thereby reducing excess inventory and minimizing the risk of stockouts. Additionally, AI enhances logistics and route optimization, improving the efficiency of product distribution and delivery. In the vast geography of Saudi Arabia, where timely and cost-effective delivery is essential, AI's contribution to supply chain management is particularly significant. This streamlined approach not only results in cost savings but also leads to improved customer satisfaction through on-time deliveries and product availability. By implementing AI for supply chain management, businesses in the Saudi retail and e-commerce sectors not only enhance their operational efficiency and competitiveness but also ensure they are well-prepared to meet the demands of a continually growing market, fostering the continued growth and development of the retail and e-commerce industries in the Kingdom.

Data-Driven Decision-Making

Data-driven decision-making serves as a significant driver in advancing the Saudi Arabia AI in Retail and E-commerce Market. In the dynamic landscape of retail and e-commerce, where consumer preferences, market trends, and competition continually evolve, the strategic utilization of data has become instrumental for businesses. AI technologies, particularly machine learning and predictive analytics, empower retailers and e-commerce platforms to harness vast volumes of data efficiently. By scrutinizing customer behavior, purchasing patterns, and market trends, AI-driven data analytics furnish valuable insights that inform pricing strategies, inventory management, and marketing campaigns. This data-driven approach not only enhances operational efficiency but also enables businesses to tailor their offerings to meet the evolving demands of Saudi consumers. The ability to make informed decisions based on data has a direct impact on a company's competitiveness and profitability, a critical factor in a highly competitive market. As Saudi retailers and e-commerce entities embrace the power of data-driven decision-making through AI, they gain a strategic advantage in their ability to adapt swiftly to market dynamics and consumer expectations, driving the continued expansion and innovation of the retail and e-commerce sectors in the Kingdom.

Cybersecurity and Fraud Prevention

Cybersecurity and fraud prevention play a pivotal role in driving the Saudi Arabia AI in Retail and E-commerce Market. As the Kingdom's retail and e-commerce sectors experience significant growth, the reliance on digital platforms and transactions has expanded, making these industries increasingly susceptible to cyber threats and fraudulent activities. AI technologies are harnessed to bolster the security and trustworthiness of these platforms. Machine learning algorithms are employed to detect and prevent fraudulent transactions, identifying unusual patterns or behaviors that may indicate potential security breaches. AI-driven fraud prevention mechanisms provide a real-time response to emerging threats, ensuring that sensitive customer data remains protected. Moreover, predictive analytics and data monitoring allow businesses to stay one step ahead of cybercriminals, proactively identifying vulnerabilities and enhancing the overall security posture. This not only safeguards consumer trust but also minimizes financial losses, as fraudulent activities can have substantial financial implications. In Saudi Arabia's burgeoning e-commerce market, where consumer confidence and data security are paramount, the integration of AI for cybersecurity and fraud prevention not only mitigates risks but also fosters a safe and secure environment for online shopping, thereby facilitating the continued growth and development of the retail and e-commerce sectors.


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Key Market Challenges

Data Privacy and Security Concerns

One of the primary challenges in implementing AI in the Saudi Arabian retail and e-commerce sector revolves around data privacy and security. As businesses collect and analyze vast amounts of customer data to power AI algorithms, the potential for data breaches and privacy violations becomes a significant concern. In Saudi Arabia, like in many other regions, stringent data protection regulations have been introduced, such as the Saudi Data and Artificial Intelligence Authority (SDAIA) framework, to safeguard individuals' personal information. Retailers and e-commerce platforms must navigate this complex regulatory landscape, ensuring they comply with local and international data protection laws while effectively utilizing customer data to enhance their services. Finding the right balance between data-driven insights and respecting consumers' privacy rights is a critical challenge that businesses must address to build trust and avoid potential legal and reputational consequences.

Skill Shortages and Talent Acquisition

The rapid adoption of AI technologies in the retail and e-commerce sectors in Saudi Arabia has created a growing demand for AI experts and professionals. However, there is a significant shortage of skilled AI and data science talent in the region. Businesses face challenges in recruiting and retaining individuals with the necessary expertise to develop, implement, and maintain AI solutions. The competition for AI talent is intense, making it challenging for smaller businesses to attract and retain skilled professionals. Furthermore, AI skills need to be continuously updated, as the technology and best practices in the field are constantly evolving. Bridging this skills gap and building a robust AI talent pipeline is a crucial challenge for the continued growth of AI in Saudi Arabia's retail and e-commerce sector.

Integration and Legacy Systems

Many retailers and e-commerce platforms in Saudi Arabia have existing legacy systems and infrastructures that were not designed to accommodate AI technologies. Integrating AI solutions with these legacy systems can be a complex and expensive process. Ensuring seamless compatibility while avoiding disruptions in operations and customer experiences is a major challenge. Transitioning to AI-powered platforms requires careful planning, significant investments, and expert guidance. Retailers need to make informed decisions about which legacy systems to replace or upgrade, as well as how to integrate AI without compromising data integrity and operational efficiency. This challenge of harmonizing AI with existing systems is a critical consideration for businesses looking to capitalize on the benefits of artificial intelligence.

Cultural and Ethical Considerations

Saudi Arabia, like many other countries, has unique cultural and ethical considerations that can pose challenges to AI adoption in the retail and e-commerce sectors. For instance, the use of AI in areas such as customer service, which often involves interactions with human customers, can raise questions about cultural sensitivity and appropriateness. Ethical concerns surrounding AI, such as algorithmic bias and fairness, also need to be addressed to ensure AI systems do not inadvertently discriminate against certain groups. Businesses must navigate these cultural and ethical considerations while designing and implementing AI solutions. Moreover, building trust in AI among consumers, who may be apprehensive about AI-driven services, is a challenge that requires effective communication and transparency. Overcoming these cultural and ethical challenges is essential for the successful integration of AI in the Saudi Arabian retail and e-commerce market.

Key Market Trends

Hyper-Personalization and Customer Engagement

Hyper-personalization has emerged as a prominent trend in the Saudi Arabian retail and e-commerce market. AI-driven customer engagement and personalization strategies are being used to create highly tailored shopping experiences. Retailers and e-commerce platforms are leveraging AI algorithms to analyze customer data and behavior, enabling them to provide personalized product recommendations, content, and marketing messages. This trend is driven by the growing demand from consumers for more relevant and individualized shopping experiences. By employing AI to understand customer preferences and behaviors, businesses can boost customer satisfaction, loyalty, and sales. In Saudi Arabia, where consumers increasingly expect a personalized approach, AI-driven hyper-personalization is poised to reshape the retail and e-commerce landscape.

Voice Commerce and Smart Assistants

Voice commerce is rapidly gaining traction in the Saudi Arabian market. AI-powered smart assistants, like Amazon's Alexa and Google Assistant, are becoming more integrated into the shopping experience. Customers can use voice commands to search for products, place orders, and get information about products and services. The convenience of hands-free shopping appeals to busy consumers, and retailers are recognizing the potential of voice commerce to drive sales. As smart home devices become more prevalent in Saudi households, the use of voice assistants for shopping is expected to grow, making it an important trend in the retail and e-commerce sector.

AI-Enhanced Visual Search and Augmented Reality (AR)

Visual search and augmented reality are revolutionizing how consumers interact with products online. AI-powered visual search tools allow shoppers to use images or photos to search for products, making it easier to find exactly what they want. Augmented reality applications, such as "try before you buy" features, enable customers to virtually see how products would look in their homes or on their bodies. In Saudi Arabia, where the younger population is tech-savvy and eager for innovative shopping experiences, AI-enhanced visual search and AR are gaining momentum. Retailers and e-commerce platforms that integrate these technologies offer customers a more interactive and engaging shopping experience, ultimately driving sales and reducing returns.

Sustainable and Ethical Shopping

Consumers in Saudi Arabia are becoming increasingly conscious of environmental and ethical issues, which is reflected in their shopping preferences. Retailers and e-commerce companies are responding to this trend by using AI to support sustainable and ethical shopping. AI is used to trace the supply chain of products, verify the authenticity of claims related to sustainability and ethical practices, and provide customers with information about a product's environmental impact. This trend aligns with global efforts to promote sustainability and responsible consumption, making it a significant factor in the Saudi retail and e-commerce market.

AI-Enhanced Customer Service and Chatbots

AI-powered customer service, including chatbots and virtual assistants, is becoming a staple in the Saudi Arabian retail and e-commerce landscape. Chatbots are being used to provide instant support and information to customers, improving response times and reducing customer service costs. The 24/7 availability of AI-driven customer service is particularly beneficial in a market where consumers increasingly expect quick and convenient assistance. Furthermore, AI can handle routine inquiries, freeing up human agents to focus on more complex customer issues. This trend is contributing to improved customer satisfaction, operational efficiency, and cost savings for businesses in Saudi Arabia's retail and e-commerce sectors.

Segmental Insights

Deployment Insights

The Cloud deployment segment asserted its dominance in the Saudi Arabia AI in Retail and E-commerce Market and is poised to maintain its leading position throughout the forecast period. Cloud deployment's supremacy can be attributed to its agility, scalability, and cost-efficiency, which are of paramount importance in the dynamic and growing retail and e-commerce landscape of Saudi Arabia. Cloud-based AI solutions provide retailers and e-commerce platforms with the flexibility to rapidly adapt to changing market conditions, scale their AI infrastructure according to demand, and efficiently manage their resources. This is particularly vital in a market where consumer behavior, preferences, and demand patterns are subject to rapid shifts. The cloud model eliminates the need for heavy upfront investments in on-premise infrastructure and allows businesses to access cutting-edge AI capabilities without the burden of extensive maintenance and updates. It also fosters seamless remote access, enabling businesses to manage operations from anywhere, a significant advantage given the evolving work environments and remote working trends. The cloud-based deployment of AI systems in the Saudi retail and e-commerce sector offers businesses a competitive edge by streamlining operations, enhancing customer experiences, and swiftly responding to market changes. With Saudi Arabia's continued focus on digital transformation and technology adoption, the Cloud deployment segment is expected to maintain its dominance as the preferred choice for businesses seeking to harness the power of AI in the retail and e-commerce domain.

Technology Insights

The Machine Learning segment emerged as the dominant force in the Saudi Arabia AI in Retail and E-commerce Market, and it is projected to maintain its supremacy during the forecast period. This leadership is attributed to the versatile and wide-ranging applications of machine learning across the retail and e-commerce landscape. Machine learning algorithms enable businesses to extract valuable insights from vast amounts of data, empowering them to make data-driven decisions and personalize customer experiences. Whether it's product recommendation engines that enhance cross-selling and upselling, demand forecasting that optimizes inventory management, or fraud detection systems that bolster cybersecurity, machine learning plays a pivotal role. Machine learning's adaptability to the dynamic nature of the retail and e-commerce market is a significant advantage. It allows for continuous model improvement, accommodating changing consumer behavior and market trends. As Saudi Arabian retailers and e-commerce platforms strive to meet the evolving demands of consumers who seek personalized, efficient, and data-driven shopping experiences, machine learning remains at the forefront. Its ability to continuously learn, adapt, and optimize processes positions it as the linchpin for businesses seeking to gain a competitive edge and thrive in the Saudi retail and e-commerce market throughout the forecast period.


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Regional Insights

Riyadh emerged as the dominant region in the Saudi Arabia AI in Retail and E-commerce Market, and it is poised to maintain its leadership during the forecast period. Riyadh, the capital and largest city of Saudi Arabia, represents the epicenter of economic activity, innovation, and digital transformation in the country. The city's bustling retail and e-commerce sector, combined with its status as a major business hub, has positioned it as the primary adopter of AI technologies in the sector. Riyadh boasts a concentration of major retailers, e-commerce giants, and startups eager to leverage AI to enhance customer experiences, optimize operations, and gain a competitive edge. The presence of numerous technology and data science talent pools, as well as access to leading educational and research institutions, has further accelerated AI adoption in Riyadh. The city's dynamic and diverse consumer base with evolving shopping preferences has driven businesses to invest in AI-driven solutions, particularly in customer service, personalization, and data analytics. Looking ahead, Riyadh's prominence in the Saudi Arabian AI in Retail and E-commerce Market is expected to persist. The city's thriving business ecosystem, continuous technological innovation, and investments in AI infrastructure, combined with the sustained growth of e-commerce and retail industries, will likely contribute to its enduring dominance. While other regions in Saudi Arabia are also embracing AI in retail and e-commerce, Riyadh's economic significance and commitment to digital transformation will keep it at the forefront of AI adoption in the sector.

Recent Developments

  • In June 2024, Daydream, a startup focused on developing an AI-powered search engine tailored for e-commerce, has secured $50 million in seed funding. The funding will support Daydream's efforts to innovate in the realm of online shopping by leveraging artificial intelligence to enhance search functionalities. The goal is to offer more intuitive and personalized search experiences for users, optimizing product discovery and enhancing the overall e-commerce shopping journey. This investment underscores growing interest in AI-driven solutions aimed at improving online retail efficiency and customer satisfaction through advanced search capabilities tailored to individual preferences and behaviors.
  • In March 2024, Amazon is intensifying its focus on artificial intelligence investments amid competitive pressures from rivals like Walmart. The eCommerce giant's USD 1 billion Industrial Innovation Fund is prioritizing investments in AI and robotics companies this year to enhance efficiency across its logistics operations. Franziska Bossart, head of Amazon's corporate venture capital arm, highlighted the fund's strategic direction, which includes recent investments such as Mantis Robotics, specializing in collaborative robotic arms.  Amazon has committed up to  USD 4 billion to support Anthropic, a startup focused on generative AI technologies. These moves underscore Amazon's strategic push to leverage advanced technologies to maintain its competitive edge in the market.

Key Market Players

  • Amazon Inc.
  • Nvidia Corporation
  • Google LLC
  • IBM Corporation
  • Intel Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Siemens AG

By Technology

By Deployment

By Application

By End-User

By Region

  • Machine Learning
  • Natural Language Processing (NLP)
  • Computer Vision
  • Speech Recognition
  • Predictive Analytics
  • On-premise
  • Cloud- Based
  • Customer Service & Support
  • Sales & Marketing
  • Supply Chain Management
  • Price Optimization
  • Payment Processing
  • Product Search & Discovery
  • Retailers
  • E-commerce Platforms
  • Consumer Goods Manufacturers
  • Logistics & Supply Chain Companies
  • Others
  • Riyadh
  • Makkah
  • Madinah
  • Jeddah
  • Tabuk
  • Eastern Province
  • Rest of Saudi Arabia

 

Report Scope:

In this report, the Saudi Arabia AI in Retail and E-commerce Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia AI in Retail and E-commerce Market, By Technology:

o   Machine Learning

o   Natural Language Processing (NLP)

o   Computer Vision

o   Speech Recognition

o   Predictive Analytics 

  • Saudi Arabia AI in Retail and E-commerce Market, By Deployment:

o   On-premise

o   Cloud - Based

  • Saudi Arabia AI in Retail and E-commerce Market, By Application:

o   Customer Service & Support

o   Sales & Marketing

o   Supply Chain Management

o   Price Optimization

o   Payment Processing

o   Product Search & Discovery       

  • Saudi Arabia AI in Retail and E-commerce Market, By End-User:

o   Retailers

o   E-commerce Platforms

o   Consumer Goods Manufacturers

o   Logistics & Supply Chain Companies

o   Others

  • Saudi Arabia AI in Retail and E-commerce Market, By Region:

o   Riyadh

o   Makkah

o   Madinah

o   Jeddah

o   Tabuk

o   Eastern Province

o   Rest of Saudi Arabia

  • Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia AI in Retail and E-commerce Market.

Available Customizations:

Saudi Arabia AI in Retail and E-commerce Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Saudi Arabia AI in Retail and E-commerce Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Saudi Arabia AI in Retail and E-commerce Market

5.         Voice of Customer

6.         Saudi Arabia AI in Retail and E-commerce Market Overview

7.         Saudi Arabia AI in Retail and E-commerce Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Technology (Machine Learning, Natural Language Processing (NLP), Computer Vision, Speech Recognition, Predictive Analytics)

7.2.2.By Application (Customer Service & Support, Sales & Marketing, Supply Chain Management, Price Optimization, Payment Processing, Product Search & Discovery)

7.2.3.By Deployment (Corporate Enterprise, Government & Defense, Healthcare, Education, Manufacturing, Others)

7.2.4.By End-User (Retailers, E-commerce Platforms, Consumer Goods Manufacturers, Logistics & Supply Chain Companies, Others)

7.2.5.By Region (Riyadh, Makkah, Madinah, Jeddah, Tabuk, Eastern Province, Rest of Saudi Arabia)

7.3.    By Company (2023)

7.4.     Market Map

8.         Riyadh AI in Retail and E-commerce Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Technology

8.2.2.By Application

8.2.5.By Deployment

8.2.6.By End-User

9.         Makkah AI in Retail and E-commerce Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Technology

9.2.2.By Application

9.2.3.By Deployment

9.2.4.By End-User

10.      Madinah AI in Retail and E-commerce Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1.     By Technology

10.2.2.     By Application

10.2.3.     By Deployment

10.2.4.     By End-User

11.      Jeddah AI in Retail and E-commerce Market Outlook

11.1. Market Size & Forecast

11.1.1.     By Value

11.2. Market Share & Forecast

11.2.1.     By Technology

11.2.2.     By Application

11.2.3.     By Deployment

11.2.4.     By End-User

12.      Tabuk AI in Retail and E-commerce Market Outlook

12.1. Market Size & Forecast

12.1.1.     By Value

12.2. Market Share & Forecast

12.2.1.     By Technology

12.2.2.     By Application

12.2.3.     By Deployment

12.2.4.     By End-User

13.      Eastern Province AI in Retail and E-commerce Market Outlook

13.1. Market Size & Forecast

13.1.1.     By Value

13.2. Market Share & Forecast

13.2.1.     By Technology

13.2.2.     By Application

13.2.3.     By Deployment

13.2.4.     By End-User

14.      Rest of Saudi Arabia AI in Retail and E-commerce Market Outlook

14.1. Market Size & Forecast

14.1.1.     By Value

14.2. Market Share & Forecast

14.2.1.     By Technology

14.2.2.     By Application

14.2.3.     By Deployment

14.2.4.     By End-User

15.      Market Dynamics

15.1. Drivers

15.2. Challenges

16.      Market Trends and Developments

17.      Company Profiles

17.1.  Amazon Inc.

17.1.1.     Business Overview

17.1.2.     Key Revenue and Financials  

17.1.3.     Recent Developments

17.1.4.     Key Personnel/Key Contact Person

17.1.5.     Key Product/Services Offered

17.2.  Nvidia Corporation

17.2.1.     Business Overview

17.2.2.     Key Revenue and Financials  

17.2.3.     Recent Developments

17.2.4.     Key Personnel/Key Contact Person

17.2.5.     Key Product/Services Offered

17.3.  Google LLC

17.3.1.     Business Overview

17.3.2.     Key Revenue and Financials  

17.3.3.     Recent Developments

17.3.4.     Key Personnel/Key Contact Person

17.3.5.     Key Product/Services Offered

17.4.  IBM Corporation

17.4.1.     Business Overview

17.4.2.     Key Revenue and Financials  

17.4.3.     Recent Developments

17.4.4.     Key Personnel/Key Contact Person

17.4.5.     Key Product/Services Offered

17.5.  Intel Corporation

17.5.1.     Business Overview

17.5.2.     Key Revenue and Financials  

17.5.3.     Recent Developments

17.5.4.     Key Personnel/Key Contact Person

17.5.5.     Key Product/Services Offered

17.6.  Microsoft Corporation

17.6.1.     Business Overview

17.6.2.     Key Revenue and Financials  

17.6.3.     Recent Developments

17.6.4.     Key Personnel/Key Contact Person

17.6.5.     Key Product/Services Offered

17.7.  Oracle Corporation

17.7.1.     Business Overview

17.7.2.     Key Revenue and Financials  

17.7.3.     Recent Developments

17.7.4.     Key Personnel/Key Contact Person

17.7.5.     Key Product/Services Offered

17.8.  Siemens AG

17.8.1.     Business Overview

17.8.2.     Key Revenue and Financials  

17.8.3.     Recent Developments

17.8.4.     Key Personnel/Key Contact Person

17.8.5.     Key Product/Services Offered

18.      Strategic Recommendations

19. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Saudi Arabia AI in Retail and E-commerce Market was USD 245 Million in 2023.

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The dominant segment by technology in the Saudi Arabia AI in Retail and E-commerce Market in 2023 was the machine learning (ML) segment.In 2023, the machine learning (ML) segment emerged as the leading technology in Saudi Arabia's AI in Retail and E-commerce Market. This dominance reflects the widespread adoption of ML algorithms to analyze consumer behavior, optimize inventory management, personalize customer experiences, and enhance operational efficiencies in retail and e-commerce sectors across the kingdom.

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Riyadh is the dominant region in the Saudi Arabia AI in Retail and E-commerce Market, taking the lead in AI adoption and innovation within the retail and e-commerce sector.

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The major drivers for the Saudi Arabia AI in Retail and E-commerce Market are government support, changing consumer behavior, supply chain optimization, data-driven decision-making, and enhanced cybersecurity and fraud prevention measures.

profile

Sakshi Bajaal

Business Consultant
Press Release

Saudi Arabia AI in Retail and E-commerce Market is expected to grow at a robust CAGR

Jun, 2024

The Saudi Arabia AI in Retail and E-commerce Market is rising due to increased adoption of AI technologies, growing online shopping trends, and the government's focus on digital transformation and d