Artificial Intelligence - Northern Africa

Northern Africa

The market size in the Artificial Intelligence market is projected to reach US$1.51bn in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.57%, resulting in a market volume of US$6.82bn 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 Northern Africa is experiencing rapid growth, driven by factors such as increased adoption of digital technologies, growing awareness of the benefits of AI, and the convenience of online AI services. This elevated growth rate can be attributed to advancements in AI robotics, autonomous and sensor technology, computer vision, machine learning, natural language processing, and generative AI.

Customer preferences: The increasing use of AI technology in various industries, including healthcare and finance, is driven by a growing demand for efficiency and accuracy. Consumers in Northern Africa are seeking AI-powered solutions for personalized services and streamlined processes. This trend is fueled by the region's large young population and their increasing reliance on technology for daily tasks. Additionally, the shift towards AI adoption is also influenced by the government's efforts to promote digital transformation and innovation in the region.

Trends in the market: In Northern Africa, the Artificial Intelligence market is experiencing a surge in demand for AI-powered solutions across industries such as healthcare, finance, and transportation. This trend is fueled by the region's increasing adoption of technology and government initiatives to promote AI development. As a result, there is a growing need for skilled AI professionals and investment in research and development. These trends indicate a significant shift towards AI-driven economies, with potential implications for stakeholders such as companies, governments, and consumers.

Local special circumstances: In Northern Africa, the Artificial Intelligence market is rapidly growing due to the region's increasing investment in technology and digital infrastructure. This is driven by the need to improve efficiency and productivity in various industries, such as healthcare, finance, and transportation. Additionally, the region's young and tech-savvy population is creating a demand for innovative AI solutions. However, unique factors such as limited internet connectivity, regulatory barriers, and cultural preferences for human interaction may affect the adoption and development of AI in this market.

Underlying macroeconomic factors: The Artificial Intelligence market in Northern Africa is heavily impacted by macroeconomic factors, such as technological advancements and government policies. Countries with strong investment in AI technologies and supportive regulatory environments are experiencing faster market growth compared to regions with limited resources and regulatory challenges. Additionally, the increasing adoption of AI in various industries, such as healthcare, finance, and manufacturing, is driving the demand for AI solutions in the region. The rising demand for automation and efficiency, coupled with the growing need for data-driven decision-making, is expected to further boost the growth of the AI market in Northern Africa.

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.