The North America Retrieval Augmented Generation Market is expected to witness market growth of 42.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America Retrieval Augmented Generation Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD4.41 billion by 2031. The Canada market is experiencing a CAGR of 44.3% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 44% during 2024-2031.
RAG enhances chatbots by allowing them to access historical customer interactions and retrieve relevant context, leading to more personalized and effective responses. RAG systems can accommodate high volumes of customer inquiries without sacrificing quality, simplifying the process of scaling business customer support operations. RAG can generate text and multimedia content, such as infographics or videos, by pulling relevant data and insights, enriching the overall content experience. By retrieving and analyzing trending topics and keywords, RAG can create optimized content that ranks better in search engines, driving organic traffic.
In addition, RAG can synthesize patient data with external medical literature to generate personalized treatment recommendations, enhancing clinical decision-making. It can create tailored educational materials for patients based on their medical history, improving understanding and adherence to treatment plans. RAG can generate personalized quizzes and learning resources based on student performance and preferences, facilitating a more customized educational experience. RAG-enabled tools can answer students' questions in real-time, using data from textbooks and online resources to provide accurate explanations.
The growth of e-commerce in Mexico drives demand for RAG solutions that can enhance product descriptions, generate personalized recommendations, and improve customer interactions, catering to a larger online shopping audience. The Mexican e-commerce sector was valued at USD 26.2 billion in 2022, a 23% increase from 2021, as per the International Trade Administration (ITA). In 2022, Mexican e-commerce consumers reached 63 million, a 5.5 million increase from the previous year.
The increasing investment in Canada's healthcare sector is spurring demand for RAG technologies that can produce personalized treatment plans and suggestions based on patient data, thereby enhancing health outcomes in the country. The government announced an investment of USD196.1 billion over ten years, including USD46.2 billion in new funding, for provinces and territories to improve Canadian healthcare services. Thus, rising investment in the healthcare sector and expansion of e-commerce in the region are driving the market's growth.
The US market dominated the North America Retrieval Augmented Generation Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD4.41 billion by 2031. The Canada market is experiencing a CAGR of 44.3% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 44% during 2024-2031.
RAG enhances chatbots by allowing them to access historical customer interactions and retrieve relevant context, leading to more personalized and effective responses. RAG systems can accommodate high volumes of customer inquiries without sacrificing quality, simplifying the process of scaling business customer support operations. RAG can generate text and multimedia content, such as infographics or videos, by pulling relevant data and insights, enriching the overall content experience. By retrieving and analyzing trending topics and keywords, RAG can create optimized content that ranks better in search engines, driving organic traffic.
In addition, RAG can synthesize patient data with external medical literature to generate personalized treatment recommendations, enhancing clinical decision-making. It can create tailored educational materials for patients based on their medical history, improving understanding and adherence to treatment plans. RAG can generate personalized quizzes and learning resources based on student performance and preferences, facilitating a more customized educational experience. RAG-enabled tools can answer students' questions in real-time, using data from textbooks and online resources to provide accurate explanations.
The growth of e-commerce in Mexico drives demand for RAG solutions that can enhance product descriptions, generate personalized recommendations, and improve customer interactions, catering to a larger online shopping audience. The Mexican e-commerce sector was valued at USD 26.2 billion in 2022, a 23% increase from 2021, as per the International Trade Administration (ITA). In 2022, Mexican e-commerce consumers reached 63 million, a 5.5 million increase from the previous year.
The increasing investment in Canada's healthcare sector is spurring demand for RAG technologies that can produce personalized treatment plans and suggestions based on patient data, thereby enhancing health outcomes in the country. The government announced an investment of USD196.1 billion over ten years, including USD46.2 billion in new funding, for provinces and territories to improve Canadian healthcare services. Thus, rising investment in the healthcare sector and expansion of e-commerce in the region are driving the market's growth.
List of Key Companies Profiled
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- IBM Corporation
- NVIDIA Corporation
- Clarifai, Inc.
- Google LLC
- Informatica Inc.
- Meta Platforms, Inc.
- Microsoft Corporation
- OpenAI, LLC
- Databricks, Inc.
Market Report Segmentation
By Deployment
- Cloud
- On-premises
By Function
- Document Retrieval
- Response Generation
- Recommendation Engines
- Summarization & Reporting
By End-use
- Healthcare
- Retail & E-commerce
- Financial Services
- Media & Entertainment
- IT & Telecommunications
- Education
- Other End-use
By Application
- Content Generation
- Knowledge Management
- Customer Support & Chatbots
- Marketing & Sales
- Legal & Compliance
- Research & Development
By Country
- US
- Canada
- Mexico
- Rest of North America
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. North America Retrieval Augmented Generation Market by Deployment
Chapter 6. North America Retrieval Augmented Generation Market by Function
Chapter 7. North America Retrieval Augmented Generation Market by End-use
Chapter 8. North America Retrieval Augmented Generation Market by Application
Chapter 9. North America Retrieval Augmented Generation Market by Country
Chapter 10. Company Profiles
Companies Mentioned
Some of the key companies in the North America Retrieval Augmented Generation Market include:- Amazon Web Services, Inc. (Amazon.com, Inc.)
- IBM Corporation
- NVIDIA Corporation
- Clarifai, Inc.
- Google LLC
- Informatica Inc.
- Meta Platforms, Inc.
- Microsoft Corporation
- OpenAI, LLC
- Databricks, Inc.
Methodology
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