Artificial Intelligence - Qatar

Qatar

The market size in the Artificial Intelligence market is projected to reach US$428.40m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.66%, resulting in a market volume of US$1,943.00m 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 Qatar is experiencing rapid growth, fueled by factors such as increasing adoption of digital technologies, growing awareness of AI's potential in various industries, and the convenience of online AI services. The market's elevated growth rate can be attributed to advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. These sub-markets are constantly evolving and driving the overall growth of the AI market in Qatar. Additionally, government initiatives and investments in AI research and development are also contributing to the market's growth.

Customer preferences: With the growing demand for innovative and efficient business solutions, the use of Artificial Intelligence (AI) in various industries is rapidly increasing in Qatar. Consumers are increasingly looking for personalized and automated experiences, leading to a surge in demand for AI-powered virtual assistants and chatbots. This trend is driven by the need for faster and more convenient customer service, as well as the desire for more efficient and accurate decision-making processes. Moreover, the adoption of AI technology is also influenced by the country's young and tech-savvy population, who are open to embracing technological advancements.

Trends in the market: In Qatar, the Artificial Intelligence market is experiencing a surge in demand for AI-powered solutions in various industries, including healthcare, finance, and transportation. This trend is expected to continue as the government invests in developing AI infrastructure and promoting digital transformation. This trajectory presents significant opportunities for industry stakeholders, such as improved efficiency, enhanced customer experience, and cost savings. However, it also raises concerns about job displacement and ethical implications of AI, which stakeholders must address to ensure sustainable growth.

Local special circumstances: In Qatar, the Artificial Intelligence market is rapidly expanding due to the country's strong focus on technological innovation and digital transformation. The government has invested heavily in initiatives to promote the adoption of AI across various industries, including finance, healthcare, and transportation. Additionally, Qatar's small, but highly educated population and its strategic location as a business hub in the Middle East, have created a conducive environment for AI development and implementation. The country's progressive regulatory framework and cultural openness to new technologies are also key factors driving the growth of the AI market in Qatar.

Underlying macroeconomic factors: The Artificial Intelligence market in Qatar is heavily influenced by macroeconomic factors such as technological advancements, government initiatives, and investment in digital infrastructure. With a strong focus on digital transformation and smart city initiatives, Qatar is creating a conducive environment for the growth of the AI market. Additionally, the country's robust economy and stable fiscal policies are attracting foreign investments and boosting the market's growth potential. Furthermore, the growing demand for AI solutions in sectors such as healthcare, finance, and transportation is also driving the market's expansion in Qatar.

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.