Latin America Generative Ai In Music Market Size & Outlook
The generative ai in music market in Latin America is expected to reach a projected revenue of US$ 107.6 million by 2030. A compound annual growth rate of 20.2% is expected of Latin America generative ai in music market from 2024 to 2030.
Revenue, 2023 (US$M)
$29.7
Forecast, 2030 (US$M)
$107.6
CAGR, 2024 - 2030
20.2%
Report Coverage
Latin America
Latin America generative ai in music market, 2018-2030 (US$M)
Latin America generative ai in music market highlights
- The Latin America generative ai in music market generated a revenue of USD 29.7 million in 2023.
- The market is expected to grow at a CAGR of 20.2% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating component in 2023.
- Software is the most lucrative component segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 29.7 million |
| Market revenue in 2030 | USD 107.6 million |
| Growth rate | 20.2% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Software |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Software |
| Key market players worldwide | Aiva Technologies, Boomy, Alphabet Inc Class A, International Business Machines Corp, LANDR, Meta Platforms Inc Class A, Microsoft Corp, OpenAI, Stability AI |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.7% of the global generative ai in music market in 2023.
- Globally, North America 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 678.2 million by 2030.
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Generative AI in Music Market Scope
Generative ai in music market segmentation & scope
Technology
Transformers
Variational Autoencoders (VAEs)
Generative Adversarial Networks (GANs)
Diffusion Models
Others
Application
Automated Music Composition
Music Arrangement and Orchestration
Music Style Transfer and Remixing
Sound Synthesis and Design
Music Personalization and Recommendation
Others
End Use
Music Production and Recording
Film and Television
Video Games and Interactive Entertainment
Advertising and Marketing
Music Education and Training
Streaming Services and Music Platforms
Others
Countries
U.S.
Canada
Mexico
UK
Germany
France
Japan
China
India
Australia
South Korea
Brazil
South Africa
Saudi Arabia
UAE
Generative AI in Music Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America generative ai in music market
Related regional statistics
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