The Latin America, Middle East and Africa Cloud AI Market should witness market growth of 44.3% CAGR during the forecast period (2023-2029).
The expanding accessibility of cloud-based AI services from well-known technology companies like Amazon, Microsoft, and Google is one of the major drivers boosting the market's expansion. These businesses invest significant sums in developing cloud AI platforms and offering them as a service to companies of different industry verticals. As a result, it is now simpler for organizations to access and execute artificial intelligence solutions without making expensive infrastructure and personnel investments.
Overall, demand for cloud AI solutions is anticipated to increase as more companies leverage AI and machine learning to spur innovation and growth. In addition, hybrid cloud adoption is rising, creating new opportunities for cloud AI. Cloud computing and traffic will probably increase as 5G is implemented and mobile usage increases. The potential for cloud AI services is increasing as a result. Growing digitalization, technological advancements, and a rise in the demand for virtualization, storage, and analytics contribute to market expansion. As a result, businesses are increasing their cloud AI investments as well.
Latin American telecommunications firms increasingly employ ChatGPT and other AI tools to identify and stop security risks. For example, AI systems can spot odd behavior indicating fraud or security breaches by monitoring usage patterns and other data at the network edge. Furthermore, due to the pandemic, government expenditures on smart city and administration projects, and the simplicity of access to an expanding selection of data centers and managed services that encourage enterprise usage of new technologies, cloud computing is becoming a growing trend in the Middle East. Soon, the UAE may strengthen its cloud-seeding effort with the help of artificial intelligence (AI). In light of these elements, the cloud AI market is estimated to grow in the LAMEA region.
The Brazil market dominated the LAMEA Cloud AI Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $9,311.5 million by 2029. The Argentina market is experiencing a CAGR of 45.1% during (2023-2029). Additionally, The UAE market would showcase a CAGR of 43.9% during (2023-2029).
Based on Type, the market is segmented into Solution and Services. Based on Industry, the market is segmented into IT & Telecom, Government, Manufacturing, BFSI, Automotive & Transportation, Healthcare & Life Sciences, Retail, and Others. Based on Technology, the market is segmented into Solution Deep Learning, Machine Learning, Natural Language Processing, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Google LLC (Alphabet, Inc.), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, MicroStrategy, Inc., NVIDIA Corporation, Salesforce, Inc. and QlikTech International AB.
The expanding accessibility of cloud-based AI services from well-known technology companies like Amazon, Microsoft, and Google is one of the major drivers boosting the market's expansion. These businesses invest significant sums in developing cloud AI platforms and offering them as a service to companies of different industry verticals. As a result, it is now simpler for organizations to access and execute artificial intelligence solutions without making expensive infrastructure and personnel investments.
Overall, demand for cloud AI solutions is anticipated to increase as more companies leverage AI and machine learning to spur innovation and growth. In addition, hybrid cloud adoption is rising, creating new opportunities for cloud AI. Cloud computing and traffic will probably increase as 5G is implemented and mobile usage increases. The potential for cloud AI services is increasing as a result. Growing digitalization, technological advancements, and a rise in the demand for virtualization, storage, and analytics contribute to market expansion. As a result, businesses are increasing their cloud AI investments as well.
Latin American telecommunications firms increasingly employ ChatGPT and other AI tools to identify and stop security risks. For example, AI systems can spot odd behavior indicating fraud or security breaches by monitoring usage patterns and other data at the network edge. Furthermore, due to the pandemic, government expenditures on smart city and administration projects, and the simplicity of access to an expanding selection of data centers and managed services that encourage enterprise usage of new technologies, cloud computing is becoming a growing trend in the Middle East. Soon, the UAE may strengthen its cloud-seeding effort with the help of artificial intelligence (AI). In light of these elements, the cloud AI market is estimated to grow in the LAMEA region.
The Brazil market dominated the LAMEA Cloud AI Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $9,311.5 million by 2029. The Argentina market is experiencing a CAGR of 45.1% during (2023-2029). Additionally, The UAE market would showcase a CAGR of 43.9% during (2023-2029).
Based on Type, the market is segmented into Solution and Services. Based on Industry, the market is segmented into IT & Telecom, Government, Manufacturing, BFSI, Automotive & Transportation, Healthcare & Life Sciences, Retail, and Others. Based on Technology, the market is segmented into Solution Deep Learning, Machine Learning, Natural Language Processing, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Google LLC (Alphabet, Inc.), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, MicroStrategy, Inc., NVIDIA Corporation, Salesforce, Inc. and QlikTech International AB.
Scope of the Study
By Type
- Solution
- Services
By Industry
- IT & Telecom
- Government
- Manufacturing
- BFSI
- Automotive & Transportation
- Healthcare & Life Sciences
- Retail
- Others
By Technology
- Deep Learning
- Machine Learning
- Natural Language Processing
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Apple, Inc.
- Google LLC (Alphabet, Inc.)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- MicroStrategy, Inc.
- NVIDIA Corporation
- Salesforce, Inc.
- QlikTech International AB
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA Cloud AI Market by Type
Chapter 5. LAMEA Cloud AI Market by Industry
Chapter 6. LAMEA Cloud AI Market by Technology
Chapter 7. LAMEA Cloud AI Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Apple, Inc.
- Google LLC (Alphabet, Inc.)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- MicroStrategy, Inc.
- NVIDIA Corporation
- Salesforce, Inc.
- QlikTech International AB
Methodology
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