Artificial Intelligence - Argentina

Argentina

The market size in the Artificial Intelligence market is projected to reach US$1.28bn in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.42%, resulting in a market volume of US$5.74bn by 2030.
In global comparison, the largest market size will be in the United States (US$50.16bn in 2024).

Definition:
Artificial intelligence (AI) is a branch of computer science that focuses on creating machines able to perform tasks traditionally requiring human intelligence, such as perception, reasoning, and learning. The Artificial Intelligence (AI) market includes a wide range of applications, such as speech recognition, image processing, and autonomous vehicles and has seen rapid growth in recent years due to advancements in technology and increased investment. The Artificial Intelligence (AI) market includes software, hardware, and services that enable organizations to develop and deploy AI applications.

Structure:

The Artificial Intelligence (AI) market is structured into six markets based on the technology:

The Computer Vision market covers applications that enable computers to interpret and understand digital images and video data.
The Machine Learning market covers the use of algorithms to enable computer systems to learn from data.
The Natural Language Processing market covers applications that enable computers to understand, interpret, and generate human language.
The Artificial Intelligence Robotics market covers the combination of AI, machine learning, and engineering to create intelligent machines that can perform tasks autonomously.
The Autonomous & Sensor Technology market covers machines and systems that operate independently by using sensors, AI, and machine learning to respond to changes in their environment.
The Generative AI market covers artificial intelligence that involves creating models capable of generating new content, such as images, videos, and text, which are indistinguishable from content created by humans.

Additional Information:

The Artificial Intelligence (AI) market comprises three key performance indicators: market sizes, market sizes by industry, and users of AI tools. Market sizes are generated by the funding amount of Artificial Intelligence (AI) companies. Key players of the Artificial Intelligence (AI) market include companies such as Google, Open AI, IBM, and Microsoft.

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Analyst Opinion

The Artificial Intelligence market in Argentina is experiencing rapid growth, driven by factors such as increasing adoption of digital technologies, growing awareness of the potential of AI, and the convenience of online services. The market's elevated growth rate can be attributed to advancements in AI robotics, autonomous and sensor technology, computer vision, machine learning, natural language processing, and generative AI. These sub-markets, along with the overall market, are being influenced by various factors such as government initiatives, investments in research and development, and the growing demand for AI-powered solutions in various industries.

Customer preferences: The growing adoption of Artificial Intelligence (AI) in Argentina is driven by the need to improve efficiency and productivity in various industries. This trend is particularly evident in the manufacturing sector, where AI is being used for predictive maintenance and quality control. Additionally, there is a rising demand for AI-powered chatbots and virtual assistants in customer service, as well as for personalized recommendations and targeted advertising. This shift towards AI-driven solutions is fueled by the country's young and tech-savvy population, as well as the government's efforts to promote digital transformation and competitiveness.

Trends in the market: In Argentina, the Artificial Intelligence market is experiencing a surge in demand for AI-powered solutions in various industries such as healthcare, finance, and agriculture. Companies are increasingly leveraging AI to improve efficiency, reduce costs, and provide better customer experiences. This trend is expected to continue, with the government actively promoting the adoption of AI through initiatives and investments. As a result, industry stakeholders, including businesses, investors, and consumers, can expect to see a significant impact on productivity, innovation, and competitiveness in the market. Additionally, the rise of AI in Argentina could also lead to job creation and economic growth, making it a crucial factor in the country's development.

Local special circumstances: In Argentina, the Artificial Intelligence market is seeing significant growth due to the country's strong focus on technology and innovation. With a highly skilled workforce and a supportive government, Argentina has become a hub for AI development and research. Additionally, the country's unique cultural background, with a strong emphasis on creativity and problem-solving, has led to the emergence of innovative AI solutions in various industries. Furthermore, Argentina's favorable regulatory environment and low cost of living have attracted foreign investments in the AI sector, further driving its growth.

Underlying macroeconomic factors: The Artificial Intelligence market in Argentina is largely influenced by macroeconomic factors such as government initiatives, technological advancements, and investment in research and development. These factors have helped Argentina establish itself as a leader in the Latin American AI market, with a growing number of startups and established companies focusing on AI solutions. Additionally, the country's strong economic performance, favorable regulatory environment, and increasing investment in AI infrastructure have further propelled the growth of the market. With an increasing demand for AI solutions across various industries, Argentina is expected to continue its rapid growth in the Artificial Intelligence market.

Methodology

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.