The Latin America, Middle East and Africa Enterprise Generative AI Market is expected to witness market growth of 41.3% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Enterprise Generative AI Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $562.5 million by 2031. The Argentina market is registering a CAGR of 43.3% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 40% during 2024-2031.
Generative design is a process where AI uses algorithms to generate a wide range of design options based on predefined goals and constraints. This has gained traction in the automotive, aerospace, and architecture industries. By generating optimized designs that meet specific requirements (e.g., weight, durability, cost), generative AI allows companies to create products that are more efficient and innovative. Enterprises use generative AI-powered chatbots and virtual assistants to improve customer service by automating responses to customer queries.
Moreover, the adoption of generative AI technologies has been accelerating, with businesses of all sizes and industries embracing its potential. Significant advances in deep learning algorithms, particularly generative adversarial networks (GANs) and transformer models have made it possible for generative AI to produce high-quality outputs. The advent of frameworks such as GPT-3, DALL·E, and Stable Diffusion has dramatically increased the capabilities of generative AI tools, making them viable for enterprise use cases.
The growing adoption of artificial intelligence (AI) in the United Arab Emirates (UAE) and Brazil significantly expands the market. According to the International Trade Administration (ITA), AI spending in Brazil exceeded US$1 billion in 2023, reflecting a remarkable 33% year-over-year increase. This surge underscores the rapid adoption of AI technologies by enterprises seeking to enhance their business processes and improve operational efficiency. The market in Brazil provides a fertile ground for generative AI tools that can automate content generation, enhance customer experiences, and streamline operations.
The Brazil market dominated the LAMEA Enterprise Generative AI Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $562.5 million by 2031. The Argentina market is registering a CAGR of 43.3% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 40% during 2024-2031.
Generative design is a process where AI uses algorithms to generate a wide range of design options based on predefined goals and constraints. This has gained traction in the automotive, aerospace, and architecture industries. By generating optimized designs that meet specific requirements (e.g., weight, durability, cost), generative AI allows companies to create products that are more efficient and innovative. Enterprises use generative AI-powered chatbots and virtual assistants to improve customer service by automating responses to customer queries.
Moreover, the adoption of generative AI technologies has been accelerating, with businesses of all sizes and industries embracing its potential. Significant advances in deep learning algorithms, particularly generative adversarial networks (GANs) and transformer models have made it possible for generative AI to produce high-quality outputs. The advent of frameworks such as GPT-3, DALL·E, and Stable Diffusion has dramatically increased the capabilities of generative AI tools, making them viable for enterprise use cases.
The growing adoption of artificial intelligence (AI) in the United Arab Emirates (UAE) and Brazil significantly expands the market. According to the International Trade Administration (ITA), AI spending in Brazil exceeded US$1 billion in 2023, reflecting a remarkable 33% year-over-year increase. This surge underscores the rapid adoption of AI technologies by enterprises seeking to enhance their business processes and improve operational efficiency. The market in Brazil provides a fertile ground for generative AI tools that can automate content generation, enhance customer experiences, and streamline operations.
List of Key Companies Profiled
- Accenture PLC
- SAS Institute Inc.
- Google LLC
- Salesforce, Inc.
- Microsoft Corporation
- Adobe, Inc.
- OpenAI, LLC
- IBM Corporation
- NVIDIA Corporation
- Intel Corporation
- SAP SE
- Oracle Corporation
Market Report Segmentation
By Component
- Software
- Services
By Model Type
- Text
- Image/Video
- Code
- Audio
By Application
- Marketing & Sales
- Customer Service
- Product Development
- Supply Chain Management
- Other Application
By Vertical
- IT & Telecom
- BFSI
- Retail & E-commerce
- Healthcare
- Manufacturing
- Media & Entertainment
- Other Vertical
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Enterprise Generative AI Market by Component
Chapter 6. LAMEA Enterprise Generative AI Market by Model Type
Chapter 7. LAMEA Enterprise Generative AI Market by Application
Chapter 8. LAMEA Enterprise Generative AI Market by Vertical
Chapter 9. LAMEA Enterprise Generative AI Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Accenture PLC
- SAS Institute Inc.
- Google LLC
- Salesforce, Inc.
- Microsoft Corporation
- Adobe, Inc.
- OpenAI, LLC
- IBM Corporation
- NVIDIA Corporation
- Intel Corporation
- SAP SE
- Oracle Corporation
Methodology
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