Latin America Artificial Intelligence Market Size & Outlook
Latin America artificial intelligence market, 2017-2030 (US$M)
Related Markets
Latin America artificial intelligence market highlights
- The Latin America artificial intelligence market generated a revenue of USD 25,611.2 million in 2023.
- The market is expected to grow at a CAGR of 29.2% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating solution in 2023.
- Services is the most lucrative solution segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 25,611.2 million |
| Market revenue in 2030 | USD 154,229.5 million |
| Growth rate | 29.2% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | Advanced Micro Devices Inc, AiCure, ARM Holdings PLC ADR, Baidu Inc ADR, Alphabet Inc Class A, International Business Machines Corp, Intel Corp, Microsoft Corp, NVIDIA Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 13.0% of the global artificial intelligence market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 734,756.7 million by 2030.
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Artificial Intelligence Market Scope
Artificial Intelligence Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America artificial intelligence market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to artificial intelligence market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 35.88% in 2023. Horizon Databook has segmented the Latin America artificial intelligence market based on hardware, software, services covering the revenue growth of each sub-segment from 2017 to 2030.
In South America, businesses across various industries increasingly adopt AI chatbots and virtual assistants to revolutionize customer service and support experiences. These AI-powered solutions offer many benefits, including improved response times, personalized interactions, and the ability to handle multiple customer inquiries simultaneously.
The growing number of internet users in South America is driving the adoption and utilization of artificial intelligence (AI) technologies in various sectors. With more people using the internet, there is a rising need for digital solutions to improve user experiences and personalize services.
Technical advancement in South America is a significant driving force behind the growth of artificial intelligence (AI) in the region. As countries in South America make strides in digital infrastructure, data connectivity, and technology adoption, AI is finding more applications and opportunities for development.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America artificial intelligence market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America artificial intelligence market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America artificial intelligence market size, by country, 2017-2030 (US$M)
Latin America Artificial Intelligence Market Outlook Share, 2023 & 2030 (US$M)
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