Saudi Arabia Big Data Analytics Markets, Competitions Forecast & Opportunities, 2028: Saudi Vision 2030 and Increasing Artificial Intelligence & Smart City Programs Influencing Growth

DUBLIN, April 28, 2023 /PRNewswire/ -- The "Saudi Arabia Big Data Analytics Market By Deployment Mode (On-Premise, Cloud and Hybrid), By Application, By Component, By Organization Size, By Analytics Type, By End Use Industry, By Region, Competition Forecast & Opportunities, 2018-2028" report has been added to  ResearchAndMarkets.com's offering.

Due to the rise in data connectivity through cloud computing and the incorporation of digital transportation in top-level initiatives, the Saudi Arabia Big Data Analytics Market is anticipated to grow throughout the projected period.

Big Data Analytics is a subset of advanced analytics, which includes sophisticated applications that incorporate aspects like statistical algorithms, what-if analysis, and predictive models. Big Data analytics offers several benefits, including cost savings, the ability to make quicker, better decisions, the creation of new products and services, and the ability t to stop fraud, among other things.

Growing Digital Healthcare Industry

Healthcare systems can benefit greatly from digital technology, including improved care coordination, real-time monitoring of chronic diseases, more precise diagnosis, more efficient treatments, and patient and physician convenience. Significant financial advantages are also provided by digital healthcare, such as cost savings that may be applied to other high-priority sectors of the healthcare system.

The adoption of Big Data Analytics (BDA) in the healthcare industry will enable the application of cutting-edge technologies in patient care and health administration. Large amounts of medical Big Data have been analyzed by healthcare experts with the aid of digitally enabled instruments.

Digital healthcare has the potential to significantly improve healthcare outcomes and efficiency in Saudi Arabia, investing up to USD 27 billion by 2030.

The nation has already made significant progress in this area, beginning with the implementation of its Vision 2030 healthcare reform in 2016 to enhance healthcare effectiveness, quality of care, and patient satisfaction. Therefore, the increased adoption of digital healthcare technology in Saudi Arabia will inevitably lead to the expansion of the country's big data analytics market.

Increasing Artificial Intelligence & Smart City Programs

While 5G forms the foundation for the IoT, AI fed by big data provides the technical capabilities that enable smart machines, devices, applications, and infrastructure to communicate. As an increasing number of devices are plugged into 5G networks, enhanced connectivity, and higher speed will generate an enormous wealth of data. This will lead to new insights and functionalities through AI-powered analytics and related services.

The smart city models could also serve as an example of artificial intelligence in Saudi Arabia. The phrase "smart city" is typically used to refer to the application of data and digital technologies to enhance citizen quality of life and decision-making. The smart solution has been put into place in Riyadh, Makkah, Jeddah, Medina, and Al Ahsa, thanks to major investment from the Saudi government.

The use of intelligent solutions to address issues with parking, energy efficiency, environmental preservation, garbage disposal, and urban landscaping and design are key components of Saudi Arabia's smart city projects. So, as artificial intelligence and smart city efforts grow, so does the Saudi Arabia Big Data Analytics Market.

Saudi Vision 2030

Under the Saudi Arabia Vision 2030, the Saudi Government focuses on providing opportunities, building an educational system linked to the labor market needs, and developing opportunities for all, from entrepreneurs and small enterprises to large companies.

Saudi government believes in developing its own investment tools to unleash the potential of its promising economic sectors, diversify the economy, and generate job opportunities. In the role of competitiveness in raising the quality of services & economic development, the Saudi government focuses on allocating government services and improving the business environment to attract the best global talents and quality investments, leading to the exploitation of their unique strategic position.

Developing the Saudi economy depends on applying the most recent ICT approaches. Big data Analytics plays a critical role in everyday life and has penetrated all the fields that involve data usage or information, including health, marketing, and entertainment. Small and large-scale industries are keenly considering implementing big data concepts efficiently to enhance their productivity.

Recent Developments

In September 2022, in order to provide the best means of opening broad horizons for developing business models while exploring opportunities to employ big data capabilities and smart technology solutions within the maritime sector, the Saudi Maritime Conference showcased the most notable big data solutions and cutting-edge technology in the maritime industry.

Market Dynamics

Market Trends and Developments

• Rising 5G Deployment
• Government Support
• Increasing Construction Projects
• Rising Oil & Gas Industry
• Increasing Investments

Drivers

• Growing Digital Healthcare Industry
• Saudi Vision 2030
• Increasing Smart City Programs

Challenges

• Lack of proper understanding
• Data growth issues

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Big Data Analytics Market.

• HData Systems
• Quant Data & Analytics
• Comprehensive Technology Company (CompTechCo)
• Oracle Corporation
• Midis Group
• SEIDOR
• Sadeem Knowledge
• Environmental Systems Research Institute, Inc.
• SAS Institute Inc.
• Teradata Corporation
• Microsoft Corporation
• IQVIA
• Amazon Web Services Inc.
• SAP SE

Report Scope:

Saudi Arabia Big Data Analytics Market, By Deployment Mode:

• On-Premises
• Cloud
• Hybrid

Saudi Arabia Big Data Analytics Market, By Application:

• Risk & Fraud Analytics
• Enterprise Data Warehouse Optimization
• Internet of Things
• Customer Analytics
• Operational Analytics
• Security Intelligence
• Others

Saudi Arabia Big Data Analytics Market, By Component:

• Solutions
• Services

Saudi Arabia Big Data Analytics Market, By Organization Size:

• Large Enterprises
• SMEs

Saudi Arabia Big Data Analytics Market, By Analytics Type:

• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics
• Diagnostic Analytics

Saudi Arabia Big Data Analytics Market, By End Use Industry:

• BFSI
• Healthcare
• Government
• IT & Telecom
• Manufacturing
• Retail
• Others

Saudi Arabia Big Data Analytics Market, By Region:

• Central
• Western
• Eastern
• Rest of Saudi Arabia

For more information about this report visit https://www.researchandmarkets.com/r/7ytsy9

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