Latin America Synthetic Data Generation Market Size & Outlook
Latin America synthetic data generation market, 2018-2030 (US$M)
Related Markets
Latin America synthetic data generation market highlights
- The Latin America synthetic data generation market generated a revenue of USD 21.0 million in 2023.
- The market is expected to grow at a CAGR of 34.3% from 2024 to 2030.
- In terms of segment, healthcare was the largest revenue generating end-user in 2023.
- Retail & E-commerce is the most lucrative end-user segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 21.0 million |
| Market revenue in 2030 | USD 165.2 million |
| Growth rate | 34.3% (CAGR from 2023 to 2030) |
| Largest segment | Healthcare |
| Fastest growing segment | Retail & E-commerce |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BFSI, IT & Telecommunication, Healthcare, Retail & E-commerce |
| Key market players worldwide | Ekobit, MOSTLY AI, Synthesis AI, Statice, YData, Hazy, Kymera Labs, MDClone, Neuromation.io, Twenty Billion Neurons, Datagen Technologies, Informatica Inc, Kinetic Vision |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.6% of the global synthetic data generation 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 608.5 million by 2030.
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Synthetic Data Generation Market Scope
Synthetic Data Generation Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America synthetic data generation 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 synthetic data generation market will help companies and investors design strategic landscapes.
Healthcare was the largest segment with a revenue share of 22.86% in 2023. Horizon Databook has segmented the Latin America synthetic data generation market based on bfsi, it & telecommunication, healthcare, retail & e-commerce covering the revenue growth of each sub-segment from 2018 to 2030.
As it enables the creation of new language releases, the use of synthetic data in natural language processing has expanded tremendously in Brazil. For instance, Amazon recently released new versions of Alexa that included Brazilian and Portuguese languages.
Artificial intelligence is used by businesses to eliminate the subjective errors produced by humans, but with biased data, AI is sure to make the same errors. Synthetic data feeds help in removing the bias in this situation.
A dataset's imbalance and biases are corrected by using synthetic data to balance out the underrepresented elements augmenting segment growth in region. Cutting-edge technology in South America is crucial to AI computer vision and autonomous driving systems.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America synthetic data generation market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America synthetic data generation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America synthetic data generation market size, by country, 2018-2030 (US$M)
Latin America Synthetic Data Generation Market Outlook Share, 2023 & 2030 (US$M)
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