The Latin America, Middle East and Africa Vision Transformers Market would witness market growth of 41.6% CAGR during the forecast period (2023-2030).
Vision transformers have found extensive use in healthcare for tasks such as medical image analysis, disease diagnosis, and surgical robot control. The growing demand for AI-driven solutions in healthcare, especially for improving accuracy and efficiency. Integrating these with NLP models has given rise to multimodal AI, which can process both text and images simultaneously. This opens new possibilities for applications like content recommendation systems, social media analysis, and virtual assistants, enhancing user experiences and insights.
ViTs can assist in the early detection and diagnosis of various diseases, including cancer, heart disease, and neurological disorders. Their ability to identify subtle patterns and abnormalities in medical images can lead to timely interventions and improved patient outcomes. ViTs can help tailor treatment plans by analyzing patients' medical images and providing insights into the most effective treatment options. This personalized approach can enhance patient outcomes and decrease treatment-related adverse effects.
According to the International Trade Administration (ITA), in 2020, Saudi Arabia accounted for nearly 52% of all vehicles sold in the Gulf Cooperation Council (GCC) and 35% in the MENA region. In Saudi Arabia, 556,000 vehicles were sold in 2019 and 436,000 in 2020. Sales are anticipated to reach 543,000 units by 2025, with only 32,000 units being electric vehicles. As AV technology continues to evolve, ViTs will be essential for AVs operating in Saudi Arabia, providing the perception and decision-making capabilities required for autonomous driving in varied environments. The factors mentioned above will drive the regional market growth.
The Brazil market dominated the LAMEA Vision Transformers Market by Country in 2023 and would continue to be a dominant market till 2030; thereby, achieving a market value of $28.7 Million by 2030. The Argentina market is showcasing a CAGR of 42.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 41.1% during (2023 - 2030).
Based on Component, the market is segmented into Solution (Software, Hardware), and Professional Services. Based on Vertical, the market is segmented into Media & Entertainment, Government, Automotive, Retail & Ecommerce, Healthcare & Lifesciences, and Others. Based on Application, the market is segmented into Object Detection, Image Classification, Image Segmentation, Image Captioning, and Others. 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 Vision Transformers Market is Projected to reach USD 2.1 Billion by 2030, at a CAGR of 36.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), NVIDIA Corporation, Google LLC (Alphabet Inc.), OpenAI, L.L.C., Synopsys, Inc., Microsoft Corporation, Qualcomm Incorporated, Intel Corporation, LeewayHertz, and Clarifai, Inc.
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