The Latin America, Middle East and Africa Composite AI Market would witness market growth of 39.7% CAGR during the forecast period (2023-2030).
The market has seen a number of advancements recently. Microsoft, for instance, has been developing a framework called "Microsoft Project Bonsai" that blends simulation, reinforcement learning, and machine learning to create increasingly sophisticated AI systems. The objective is to develop AI models with improved decision-making skills that can absorb knowledge from human experts.
A plethora of data is produced across several sectors due to the expansion of digital devices, sensors, and IoT devices. By using this data, composite AI may glean insights, anticipate the future, and provide individualized experiences. The expanding availability of data fuels the development and implementation of these solutions.
The "UAE Strategy for Artificial Intelligence" has been unveiled by the UAE government. The surge in the adoption of AI results from increased investment by UAE governments in cutting-edge technologies, including artificial intelligence (AI), 5G, and machine learning (ML). It is anticipated that adopting such tactics would depend on artificial technologies for improved outcomes. The government's encouraging stance toward using AI would assist the expansion of the market.
The Brazil market dominated the LAMEA Composite AI Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $136.9 million by 2030. The Argentina market is anticipated to grow at a CAGR of 40.4% during (2023 - 2030). Additionally, The UAE market would display a CAGR of 39.3% during (2023 - 2030).
Based on Technique, the market is segmented into Data Processing, Data Mining & Machine Learning, Conditioned Monitoring, Pattern Recognition and Proactive Mechanism & Others. Based on Vertical, the market is segmented into BFSI, Telecommunications, Retail & eCommerce, Healthcare & Lifesciences, Media & Entertainment, Energy & Power, Transportation & Logistics, Government & Defense, Manufacturing and Others. Based on Application, the market is segmented into Product Design & Development, Quality Control, Predictive Maintenance, Security & Surveillance and Customer Service & Others. Based on Offering, the market is segmented into Hardware (Processors, Memory Units, Networks and Others), Software (AI Development Platforms & Tools, ML Framework and AI Middleware & Others) and Services. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Composite AI Market is Projected to reach USD 8.5 Billion by 2030, at a CAGR of 36.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAS Institute, Inc., Microsoft Corporation, Google LLC (Alphabet Inc.), Salesforce, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), NVIDIA Corporation, Intel Corporation, SAP SE, and Squirro AG
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