North America Large Language Model Market Size, Share & Trends Analysis Report By Deployment, By Vertical (Retail & E-commerce, Media & Entertainment, Finance, Healthcare, and Others), By Application, By Country and Growth Forecast, 2023 - 2030
The North America Large Language Model Market would witness market growth of 33.4% CAGR during the forecast period (2023-2030).
Artificial intelligence (AI) has witnessed a transformative paradigm shift in recent years with large language models' emergence and rapid development. These models, powered by advanced natural language processing (NLP) techniques, have become pivotal in reshaping how machines understand, generate, and interact with human language. The market, fueled by significant advancements in deep learning and computational capabilities, stands at the forefront of AI innovation, revolutionizing communication, information processing, and many industries.
In addition, organizations across diverse sectors quickly recognized the potential of large language models to enhance automation, decision-making processes, and user interactions. The adoption of these models expanded beyond the realms of technology giants and research institutions, reaching into industries such as healthcare, finance, customer service, content creation, and more. The versatility and adaptability of large language models played a pivotal role in driving their adoption across a wide spectrum of applications. The market has catalyzed transformative changes in various industries, unlocking novel possibilities and optimizing existing processes. The applications span a wide range of sectors, each harnessing the power of these models to address specific challenges and streamline operations.
In addition, Canada's financial industry has undergone a significant digital transformation, with institutions adopting state-of-the-art technologies to improve consumer satisfaction, streamline operations, and sustain a competitive advantage. Significant language models may facilitate numerous facets of this paradigm shift. Large language models can be utilized to analyze enormous quantities of textual data in the finance industry, such as regulatory updates, market news, and financial reports. This capability aids in extracting valuable insights, identifying trends, and making informed decisions. As per the data published in 2023 by the International Trade Administration, Canada’s banking industry contributes 3.6% (or US$55 billion) to Canada’s GDP. Thus, growing digital transformation across industries and the rising finance sector in Canada will assist in expanding the regional market.
The US market dominated the North America Large Language Model Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8,308.7 million by 2030. The Canada market is experiencing a CAGR of 36.4% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 35.2% during (2023 - 2030).
Based on Deployment, the market is segmented into On-premise, and Cloud. Based on Vertical, the market is segmented into Retail & E-commerce, Media & Entertainment, Finance, Healthcare, and Others. Based on Application, the market is segmented into Chatbots & Virtual Assistant, Customer Service, Content Generation, Sentiment Analysis, Code Generation, and Language Translation. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Baidu, Inc.
- Google LLC (Alphabet Inc.)
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Meta Platforms, Inc.
- Microsoft Corporation
- OpenAI, LLC
- Yandex N.V.
- IBM Corporation
- NVIDIA Corporation
By Deployment
- On-premise
- Cloud
- Retail & E-commerce
- Media & Entertainment
- Finance
- Healthcare
- Others
- Chatbots & Virtual Assistant
- Customer Service
- Content Generation
- Sentiment Analysis
- Code Generation
- Language Translation
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Large Language Model Market, by Deployment
- 1.4.2 North America Large Language Model Market, by Vertical
- 1.4.3 North America Large Language Model Market, by Application
- 1.4.4 North America Large Language Model Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter Five Forces Analysis
- Chapter 4. Strategies Deployed in Large Language Model Market
- Chapter 5. North America Large Language Model Market by Deployment
- 5.1 North America On-premise Market by Region
- 5.2 North America Cloud Market by Region
- Chapter 6. North America Large Language Model Market by Vertical
- 6.1 North America Retail & E-commerce Market by Country
- 6.2 North America Media & Entertainment Market by Country
- 6.3 North America Finance Market by Country
- 6.4 North America Healthcare Market by Country
- 6.5 North America Others Market by Country
- Chapter 7. North America Large Language Model Market by Application
- 7.1 North America Chatbots & Virtual Assistant Market by Country
- 7.2 North America Customer Service Market by Country
- 7.3 North America Content Generation Market by Country
- 7.4 North America Sentiment Analysis Market by Country
- 7.5 North America Code Generation Market by Country
- 7.6 North America Language Translation Market by Country
- Chapter 8. North America Large Language Model Market by Country
- 8.1 US Large Language Model Market
- 8.1.1 US Large Language Model Market by Deployment
- 8.1.2 US Large Language Model Market by Vertical
- 8.1.3 US Large Language Model Market by Application
- 8.2 Canada Large Language Model Market
- 8.2.1 Canada Large Language Model Market by Deployment
- 8.2.2 Canada Large Language Model Market by Vertical
- 8.2.3 Canada Large Language Model Market by Application
- 8.3 Mexico Large Language Model Market
- 8.3.1 Mexico Large Language Model Market by Deployment
- 8.3.2 Mexico Large Language Model Market by Vertical
- 8.3.3 Mexico Large Language Model Market by Application
- 8.4 Rest of North America Large Language Model Market
- 8.4.1 Rest of North America Large Language Model Market by Deployment
- 8.4.2 Rest of North America Large Language Model Market by Vertical
- 8.4.3 Rest of North America Large Language Model Market by Application
- Chapter 9. Company Profiles
- 9.1 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental Analysis
- 9.1.4 Recent strategies and developments:
- 9.1.4.1 Partnerships, Collaborations, and Agreements:
- 9.1.5 SWOT Analysis
- 9.2 Baidu, Inc.
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 SWOT Analysis
- 9.3 Google LLC (Alphabet Inc.)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.6 SWOT Analysis
- 9.4 Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 SWOT Analysis
- 9.5 Meta Platforms, Inc. (Meta)
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segment and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 SWOT Analysis
- 9.6 Microsoft Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Acquisition and Mergers:
- 9.6.6 SWOT Analysis
- 9.7 OpenAI, L.L.C.
- 9.7.1 Company Overview
- 9.7.2 SWOT Analysis
- 9.8 Yandex N.V.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.9 IBM Corporation
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Regional & Segmental Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.6 SWOT Analysis
- 9.10. NVIDIA Corporation
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Partnerships, Collaborations, and Agreements:
- 9.10.6 SWOT Analysis
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook