Market Trends of MEA Location Analytics Industry
This section covers the major market trends shaping the MEA Location Analytics Market according to our research experts:
Rise of Technological Advances in Various Applications to Witness the Growth
- African and Middle Eastern nations have seen increasing adoption of modern technologies. There are now many connections in the region thanks to the recent and rapid digitization of areas like Saudi Arabia and the United Arab Emirates.
- End-user enterprises in more significant numbers are adopting artificial intelligence to boost productivity, create economic benefits, and raise security standards. Several government efforts are altering the industrial sector's dynamics and influencing the geography of essential nations like the United Arab Emirates. and Saudi Arabia.
- A better flow of structured and unstructured data emerged in this area during the Big Data era, along with a growth in the volume of real-time spatial data produced by big data, social networks, the Internet of Things, and other interactive media.
- Several regional governments have created long-term strategies to employ AI and ML to boost the economy, increase workforce productivity, and increase government flexibility. When the UAE government unveiled its Artificial Intelligence Strategy, it made clear how dependent it was on numerous infrastructure, industry, and service efforts utilizing AI.
- Currently, the government directly supports AI projects. Still, shortly, regional enterprises will establish their own AI departments and more substantial institutional and practical regulatory frameworks to promote private sector investment. These trends support the economies of Africa and the Middle East, accelerating the region's digitization.
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Saudi Arabia to Hold the Largest Market Share
- Saudi Arabia has a multi-level, multi-faceted program that covers ecosystem development, investment, policy and regulation, research and innovation, and technology. As a result, the nation will become a hub for artificial intelligence and big data globally and one of the top data-driven economies in the world.
- With a focus on meeting Saudi Arabia's urgent needs by 2025, notably the nation's strategic development goal, Vision 2030, the national policy on data and AI will be implemented in stages.
- Developments in high-performance cloud computing, ubiquitous high-speed connection, new sensor networks, sensor platforms, geospatial analytics, and autonomous intelligent machines have also fueled the move toward a more machine-centric area.
- The market in Saudi Arabia already features some of the significant global e-commerce businesses, such as Amazon, eBay, and AllExpress from the Alibaba Group. It is projected that competition will increase when new players enter the e-trade market.
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