Middle East and North Africa Artificial Neural Networks (ANN) Market

Middle East and North Africa Artificial Neural Networks (ANN) Market

Middle East and North Africa Artificial Neural Networks (ANN) Market reached US$ 7.0 million in 2023 and is expected to reach US$ 10.3 million by 2031, growing with a CAR of 5.2% during the forecast period 2024-2031.

The MENA observes an increase in the trend of AI education and talent development, including ANN. Initiatives to educate and upskill people in AI technology are being launched by governments, universities and commercial businesses. The creation of a trained workforce with the ability to comprehend and apply ANN solutions is being facilitated via training initiatives, workshops and partnerships with business partners.

The use of AI technologies in the financial industry in the Middle East and North Africa (MENA) is growing, with ANN receiving particular attention. Neural networks are being used by financial organizations for customer service, risk assessment and fraud detection. Applications of ANNs aid in more precise data analysis and decision-making, improving client services. AI adoption in finance is consistent with the region's objective of bringing new solutions to satisfy changing client demands and modernizing the financial industry.

UAE is among the growing regions in the Middle East and North Africa artificial neural networks (ANN) market covering more than 1/3rd of the market. The use of AI, particularly ANN, is a key trend propelling market expansion and UAE is leading the way in the implementation of smart city projects. ANN is used in a variety of applications, including energy optimization, public safety and traffic control, in smart city initiatives in United Arab Emirates.

Dynamics

Growing Demand for Improved Client Service

The demand for improved customer experiences is rising throughout the Middle East and North Africa (MENA), affecting everything from retail and banking to healthcare and telecoms. By providing personalized services, predictive analytics and enhanced decision-making processes, artificial neural networks (ANN) are essential in satisfying this need. ANN applications improve user pleasure by aiding in fraud detection, consumer interaction and recommendation systems in industries like e-commerce.

Additionally, Superior customer experiences provide businesses with a competitive edge. Artificial neural networks (ANN) provide the means to evaluate large datasets, spot trends and provide customized solutions. Neural network applications throughout MENA's different industries are becoming widely used due to the growing emphasis on customer-centric strategies and the recognition of ANN as a significant tool for accomplishing this aim.

Rising Digital Transformation in Across Industries

The digital transformation of the Middle East and North Africa (MENA) area is happening at a very rapid pace in some industries, including manufacturing, healthcare and finance. The impetus for this shift is a strong desire to maintain competitiveness in the global market, optimize decision-making procedures and increase operational efficiency.

The digital transformation is greatly aided by Artificial Neural Networks (ANN), which provide sophisticated skills in data processing, pattern recognition and predictive modeling. The use of artificial neural networks (ANNs) is becoming increasingly important in helping organizations in the Middle East and North Africa (MENA) region realize the revolutionary potential of automation and data-driven insights.

Restricted Access to State-of-the-Art Infrastructure

The powerful computational infrastructure required for the effective training and implementation of complicated ANN models is limited in the MENA area. Neural network computation takes enormous processing power, which is why powerful GPUs and TPUs are essential components of high-performance computing (HPC) systems. However, granting widespread access to such cutting-edge infrastructure may provide difficulties for certain MENA nations, which might impede the development of extensive ANN applications.

For smaller companies and startups wishing to enter the ANN market, the expense of purchasing and maintaining state-of-the-art hardware presents a financial hurdle. Further limitations on the availability of advanced infrastructure in the MENA area may come from challenges with energy consumption and environmental concerns connected to the operation of complex AI models on powerful hardware.

Data Security and Privacy Issues

The Middle East and North Africa artificial neural networks (ANN) market is severely restricted by the rising concerns about data security and privacy. Because ANN applications frequently use large datasets for model training and optimization, managing sensitive data becomes crucial. The MENA businesses and citizens are becoming more conscious of the possible dangers connected to gathering, storing and using private and sensitive data.

Furthermore, the necessity for strong security measures makes it difficult to use ANN in industries like healthcare and banking where data confidentiality is crucial. In response to these worries, the legal environment in the MENA area is changing, which might pose compliance issues for companies and have an influence on the free flow of data necessary for efficient ANN deployment and training.

Segment Analysis

The Middle East and North Africa artificial neural networks (ANN) market is segmented based on component, deployment mode, enterprise, application, end-user and region.

Rising Demand for Services in Artificial Neural Networks

The services segment is among the growing regions in the Middle East and North Africa artificial neural networks (ANN) market covering more than 1/3rd of the market. The Middle East and North Africa Artificial Neural Networks (ANN) Market has seen rapid expansion due to growing demands for AI solutions across many sectors. The has resulted in a spike in the demand for specialized services related to ANN.

For complete realization of the promise of neural network technology, businesses are searching for assistance with ANN application implementation, optimization and maintenance. Profiting from this need, service providers that offer advice, instruction and assistance are helping businesses overcome the challenges of incorporating ANN into their daily operations.

The ANN services market in the Middle East and North Africa is expanding as a result of a growing demand for training programs that cover the principles of neural networks, machine learning and AI application development. The growth of services in the MENA ANN industry is being driven by the need for both experienced specialists and implementation assistance.

Geographical Penetration

Increasing Artificial Intelligence Technology in UAE

UAE has been a dominant force in the Middle East and North Africa artificial neural networks (ANN) market driven by The United Arab Emirates' (UAE) drive for innovation, digital transformation and economic diversification is reflected in the market expansion for artificial neural networks (ANNs) in that country. The UAE's broad goal of becoming a globally center for technology and artificial intelligence is a major motivator.

Furthermore, the demand for AI solutions, particularly ANN, has increased due to UAE's emphasis on smart cities and the integration of cutting-edge technology in a variety of industries. Investment in artificial intelligence (AI) technology has surged as a result of the need for efficiency, sustainability and better services in industries including energy, healthcare and transportation.

The UAE's strong focus on research and development also played a role in the ANN market's expansion. Technological improvements are promoted by the creation of research institutes, innovation centers and collaborations between government agencies and private businesses. The in turn draws startups and companies in the AI space, spurring innovation and the creation of state-of-the-art ANN applications.

For Instance, in 2024, UAE's QX Lab AI launched Ask QX, a hybrid generative AI platform trained on both neural network architecture and large language models. The platform, available in over 100 languages, including 12 Indian languages, has attracted eight million users since its debut. Leveraging artificial neural networks (ANNs) or simulated neural networks (SNNs), Ask QX uses node layers to ensure data accuracy within specified thresholds, expediting output generation for enhanced efficiency and precision.

COVID-19 Impact Analysis

The MENA Artificial Neural Networks (ANN) industry has been significantly impacted by the COVID-19 pandemic, altering supply chains, demand and technical advancements, among other things. The pandemic's early stages caused supply chain disruptions on a global scale, delaying the manufacture and delivery of hardware components needed for AI infrastructure. The implementation of ANN-based solutions and the general expansion of the AI sector in the MENA area may have been hampered as a consequence.

The pandemic forced companies and governments to reassess their priorities, placing more emphasis on crisis management, remote employment and healthcare solutions. To address issues including improving data analysis for decision-making, creating predictive healthcare models and streamlining remote work procedures, there was a surge in interest in artificial intelligence (AI) technologies, including ANN.

The COVID-19 pandemic advanced several trends in the use of AI technology, notwithstanding its difficulties. Investments in AI were driven by the demand for contactless solutions, automation and effective data analysis to address the crisis in some industries. Growing awareness of AI's potential advantages in the MENA area has given ANN-specializing businesses the chance to contribute to solutions for the banking, healthcare and other sectors.

The MENA artificial intelligence (AI) sector had difficulties during the early stages of the COVID-19 epidemic. However, as the importance of AI in mitigating the problem became apparent, there was a surge of interest and investments in AI technology throughout the area. The long-term effects on the ANN industry will be determined by how governments and companies use AI solutions to improve resilience and recovery as the scenario develops.

Russia-Ukraine War Impact Analysis

The current conflict between Russia and Ukraine might potentially impact the artificial intelligence sector in the Middle East and North Africa (MENA) through global economic fallout. International cooperation and investment climates can be impacted by changes in geopolitical dynamics, supply chain delays and economic uncertainty. Businesses in the MENA region, particularly those engaged in the development and implementation of ANN, may face difficulties including funding concerns and swings in demand if the war intensifies international tensions and economic downturns.

Furthermore, the geopolitical and economic ties of the MENA could alter, which might have an impact on the region's AI environment. The flow of information, skills and capital into AI-related technologies, including ANN, may be impacted by changes in the balance of power in the world and technical alignments. Businesses in the MENA region may need to modify their business plans in response to shifting economic and geopolitical conditions.

In addition, as countries attempt to strengthen their capacities in reaction to geopolitical uncertainty, the war may raise demand for AI technology linked to defense and security applications in the MENA area. The may open doors for AI firms that specialize in defense applications, but it also brings up moral and legal questions about using AI in areas of concern.

By Component
• Hardware
• Solution
• Services

By Deployment Mode
• Cloud
• On-premises

By Enterprise
• Large Enterprises
• Small and Medium Enterprises

By Application
• Signal Recognition
• Data Mining
• Image Recognition
• Others

By End-User
• BFSI
• Retail and E-Commerce
• IT & Telecom
• Manufacturing
• Healthcare & Life Sciences
• Government and Defense
• Transportation and Logistics
• Others

By Country
• Middle East and North Africa
Saudi Arabia
UAE
Oman
Bahrain
Qatar
Kuwait
Egypt
Iran
Iraq
Israel
Rest of Middle East and North Africa

Key Developments
• On February 02, 2024, UAE's QX Lab AI launched Ask QX, a hybrid generative AI platform trained on both neural network architecture and large language models. The platform, available in over 100 languages, including 12 Indian languages, has attracted eight million users since its debut. Leveraging artificial neural networks (ANNs) or simulated neural networks (SNNs), Ask QX uses node layers to ensure data accuracy within specified thresholds, expediting output generation for enhanced efficiency and precision.

Competitive Landscape

The major global players in the market include Google, IBM oracle, Microsoft, Intel Corporation, Qualcomm, Starmind International, NVIDIA, Baidu and Turing.

Why Purchase the Report?
• To visualize the Middle East and North Africa artificial neural networks (ANN) market segmentation based on component, deployment mode, enterprise, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of artificial neural networks (ANN) market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Middle East and North Africa artificial neural networks (ANN) market report would provide approximately 48 tables, 53 figures and 156 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies