Generative AI - MENA

In the MENA region, the Generative AI market is rapidly expanding in the Artificial Intelligence market. The intense growth rate is driven by factors such as increasing demand for digital technologies, growing health consciousness among consumers, and the convenience of online health services.

Customer preferences: The MENA region has witnessed a growing demand for Generative AI solutions in the Artificial Intelligence market. This can be attributed to the increasing adoption of digital platforms and services across industries, as well as the rising need for more efficient and personalized solutions. With a diverse population and evolving lifestyle preferences, there is a growing demand for AI-powered solutions that cater to cultural nuances and demographic shifts. This has led to the emergence of innovative Generative AI solutions that can cater to the unique needs and preferences of MENA consumers, ranging from personalized shopping experiences to language translation services.

Trends in the market: In MENA, the Generative AI market within the Artificial Intelligence Market is experiencing a surge in demand for deep learning and natural language processing solutions. This trend is driven by the increasing adoption of AI-powered virtual assistants in various industries, such as retail, healthcare, and finance. The trajectory of this trend is expected to continue upwards, as companies in the region recognize the potential of AI to improve efficiency and customer experience. This trend holds significant implications for industry stakeholders, as it presents opportunities for businesses to leverage AI for competitive advantage. It also highlights the need for skilled AI professionals and investment in AI research and development in the region.

Local special circumstances: In MENA, the Generative AI Market within the Artificial Intelligence Market is experiencing rapid growth due to government initiatives to promote digital transformation and entrepreneurship. With a growing tech-savvy population and increased investment in AI research and development, the region is becoming a hub for innovative AI solutions. Additionally, cultural values and norms, such as a preference for personalized services and a strong emphasis on privacy, are shaping the adoption and development of Generative AI in the MENA region.

Underlying macroeconomic factors: The Generative AI Market within the Artificial Intelligence Market in MENA is also affected by macroeconomic factors such as technological advancements, government policies, and investment in AI infrastructure. Countries with supportive regulatory environments and significant investment in AI technologies are experiencing higher market growth compared to regions with regulatory barriers and limited funding. Moreover, the increasing adoption of AI solutions in various industries and the growing demand for automation and efficiency are propelling the growth of the Generative AI Market in the region.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.