Market Overview:
The Latin America artificial intelligence market size reached US$ 3.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 27.3 Billion by 2032, exhibiting a growth rate (CAGR) of 23.9% during 2024-2032.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 3.8 Billion |
Market Forecast in 2032
|
US$ 27.3 Billion |
Market Growth Rate 2024-2032 |
23.9% |
Artificial intelligence (AI) refers to an interdisciplinary branch of science concerned with generating smart machines, which can perform tasks of human intelligence. It is capable of human-like speech recognition, planning, learning, and problem-solving based on past experiences. The hardware components of AI primarily include chipsets with high computing abilities, such as field-programmable gate array (FPGA), central processing unit (CPU), graphics processing unit (GPU) and application-specific integrated circuits (ASIC). Moreover, the software components of AI-integrated systems can process large amounts of data to provide meaningful insights.
E-commerce websites operating in the Latin American region are relying on AI-based algorithms in chatbots and pricing optimization, supply chain optimization systems, recommendation engines, and lead generations to improve customer engagement. AI systems are also employed to achieve accurate results through deep neural networks, automate repetitive tasks and process vast amounts of data. Besides this, numerous industries are investing in AI systems due to the uncertainties caused by the coronavirus disease (COVID-19) outbreak and stringent regulations imposed by governing authorities in the region to prevent the spread of the disease.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America artificial intelligence market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type, offering, technology, system and end-use industry.
Breakup by Type:
- Narrow/Weak Artificial Intelligence
- General/Strong Artificial Intelligence
Breakup by Offering:
- Hardware
- Software
- Services
Breakup by Technology:
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
- Others
Breakup by System:
- Intelligence Systems
- Decision Support Processing
- Hybrid Systems
- Fuzzy Systems
Breakup by End-Use Industry:
- Healthcare
- Manufacturing
- Automotive
- Agriculture
- Retail
- Security
- Human Resources
- Marketing
- Financial Services
- Transportation and Logistics
- Others
Breakup by Country:
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Type, Offering, Technology, System, End-Use Industry, Country |
Countries Covered |
Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the Latin America artificial intelligence market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Latin America artificial intelligence market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the offering?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the system?
- What is the breakup of the market based on the end-use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Latin America artificial intelligence market and who are the key players?
- What is the degree of competition in the industry?