The Latin America, Middle East and Africa Large Language Model Powered Tools Market would witness market growth of 49% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Large Language Model Powered Tools Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $473 million by 2031. Argentina market is registering a CAGR of 51% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 47.7% during (2024 - 2031).
Large language model (LLM)-powered tools are applications and systems that leverage advanced artificial intelligence (AI) models designed to process and generate human-like text based on massive training data.
Additionally, these models are constructed using deep learning techniques, which enable them to comprehend the subtleties of language, context, and meaning, thereby facilitating a diverse array of natural language processing (NLP) duties.
The LAMEA region is seeing a surge in adopting large language model-powered tools, driven by various factors, including increasing digitalization, rising demand for AI-powered solutions, and multilingual support. The United Arab Emirates (UAE) is spearheading the digital transformation of the Middle East, which is creating a demand for tools that are enabled by large language models (LLMs). The United Arab Emirates government has been actively promoting digitalization initiatives, including the UAE National AI Strategy 2031, which is designed to establish the country as a leader in AI innovation. In accordance with the UAE Centennial 2071, the UAE aspires to become a prominent nation in AI by 2031, thereby generating up to AED 335 billion in additional growth and establishing new educational, economic, and social opportunities for governments, citizens, and businesses.
Free Valuable Insights: The Worldwide Large Language Model Powered Tools Market is Projected to reach USD 24.4 Billion by 2031, at a CAGR of 45.5%
Based on Deployment, the market is segmented into Cloud, and On-Premises. Based on Type, the market is segmented into General-Purpose Tools, Domain-Specific Tools, and Task-Specific Tools. Based on Application, the market is segmented into Content Generation, Customer Support, Language Translation, Creative Arts, Data Analysis & Insights, Software Development, Personalization, and Education & Training. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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