Artificial Intelligence - Morocco

Morocco

The market size in the Artificial Intelligence market is projected to reach US$256.00m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.47%, resulting in a market volume of US$1,151.00m by 2030.
In global comparison, the largest market size will be in the United States (US$50.16bn in 2024).

Definition:
Artificial intelligence (AI) is a branch of computer science that focuses on creating machines able to perform tasks traditionally requiring human intelligence, such as perception, reasoning, and learning. The Artificial Intelligence (AI) market includes a wide range of applications, such as speech recognition, image processing, and autonomous vehicles and has seen rapid growth in recent years due to advancements in technology and increased investment. The Artificial Intelligence (AI) market includes software, hardware, and services that enable organizations to develop and deploy AI applications.

Structure:

The Artificial Intelligence (AI) market is structured into six markets based on the technology:

The Computer Vision market covers applications that enable computers to interpret and understand digital images and video data.
The Machine Learning market covers the use of algorithms to enable computer systems to learn from data.
The Natural Language Processing market covers applications that enable computers to understand, interpret, and generate human language.
The Artificial Intelligence Robotics market covers the combination of AI, machine learning, and engineering to create intelligent machines that can perform tasks autonomously.
The Autonomous & Sensor Technology market covers machines and systems that operate independently by using sensors, AI, and machine learning to respond to changes in their environment.
The Generative AI market covers artificial intelligence that involves creating models capable of generating new content, such as images, videos, and text, which are indistinguishable from content created by humans.

Additional Information:

The Artificial Intelligence (AI) market comprises three key performance indicators: market sizes, market sizes by industry, and users of AI tools. Market sizes are generated by the funding amount of Artificial Intelligence (AI) companies. Key players of the Artificial Intelligence (AI) market include companies such as Google, Open AI, IBM, and Microsoft.

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Analyst Opinion

The Artificial Intelligence market in Morocco is experiencing rapid growth, driven by factors such as increasing adoption of digital technologies, rising awareness of AI potential, and convenience of online services. The elevated growth rate can be attributed to advancements in AI sub-markets, such as Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. These sub-markets are shaping the overall market's landscape and fueling its expansion.

Customer preferences: In Morocco, there is a growing interest in incorporating Artificial Intelligence (AI) technology into various industries. This trend is driven by the country's young and tech-savvy population, as well as the government's push towards digitalization. With the rise of AI, businesses are now able to streamline their operations, improve efficiency, and gain a competitive edge. Furthermore, consumers are increasingly open to using AI-powered services, such as chatbots and virtual assistants, to enhance their daily tasks and interactions. This shift towards AI adoption is a reflection of Morocco's modern and progressive society, and it is expected to continue shaping the country's economic landscape in the years to come.

Trends in the market: In Morocco, the Artificial Intelligence market is experiencing a growth in the adoption of AI-powered solutions in industries such as healthcare, finance, and transportation. This trend is driven by the increasing availability of data, advancements in machine learning algorithms, and government initiatives to promote AI development. This trajectory is significant as it offers opportunities for businesses to increase efficiency and improve decision-making. However, it also raises concerns about job displacement and the need for ethical guidelines in AI development. Industry stakeholders must closely monitor these trends to stay competitive and address potential challenges.

Local special circumstances: In Morocco, the Artificial Intelligence market is experiencing growth due to the country's strategic location and its proximity to Europe and Africa, making it an ideal testing ground for AI technologies. Additionally, the government's focus on promoting innovation and technology, coupled with a growing startup ecosystem, has created a conducive environment for AI development. Furthermore, the country's diverse culture and demographics provide a unique opportunity for AI solutions to cater to specific market segments, such as language and cultural preferences. Lastly, Morocco's regulatory framework is favorable for AI companies, with initiatives such as the "Digital Morocco 2020" strategy, which aims to promote the country's digital transformation and competitiveness.

Underlying macroeconomic factors: The Artificial Intelligence market in Morocco is also influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. With the country's growing focus on digitization and innovation, there is a strong push towards the adoption of AI technologies. Additionally, favorable government policies and investments in research and development are driving the growth of the market. Furthermore, the country's stable economic health and increasing demand for advanced solutions in various industries, such as healthcare, finance, and transportation, are also contributing to the growth of the Artificial Intelligence market in Morocco.

Methodology

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.