Global Composite AI Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Composite AI is software that integrates different AI technologies, techniques, or models to create a more powerful and versatile artificial intelligence system. It offers several advantages, such as being more accurate, transparent, faster, and understandable while delivering better user results.

Sizing and Forecast
The composite ai market size has grown exponentially in recent years. It will grow from $1.04 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 37.9%.  The  growth in the historic period can be attributed to advancements in artificial intelligence (AI), increased computing power, rise of big data, growing acceptance of ai in creative industries, user-friendly interfaces.

The composite ai market size is expected to see exponential growth in the next few years. It will grow to $5.08 billion in 2028 at a compound annual growth rate (CAGR) of 37.2%.  The growth in the forecast period can be attributed to continued ai advancements, emergence of quantum computing, ethical and responsible ai practices, global expansion of creative industries, market-specific customization. Major trends in the forecast period include enhanced human-ai collaboration, integration of ai and creativity tools, generative adversarial networks (gans) in creative processes, human-ai collaboration, personalized content creation.

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Segmentation & Regional Insights
The composite ai market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Technique: Conditioned Monitoring, Pattern Recognition, Data Processing, Proactive Mechanism, Data Mining And Machine Learning, Other Methods AutoML And model building
3) By Vertical: Banking, Financial Services And Insurance (BFSI), Retail and eCommerce, Manufacturing, Energy And Utilities, Transportation And Logistics, Healthcare and Life Sciences, Media And Entertainment, Government And Defense, Telecom 
4) By Application: Product Design And Development, Quality Control, Predictive Maintenance, Security And Surveillance, Customer Service, Other Applications

North America was the largest region in the composite AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the composite ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing adoption of AI is expected to propel the growth of the composite AI market going forward. AI adoption refers to the process by which individuals, organizations, or societies integrate and incorporate artificial intelligence (AI) technologies into their existing systems, processes, or daily activities. AI adoption increasingly uses composite AI, combining multiple AI techniques, such as machine learning, natural language processing, computer vision, and rule-based systems, to enhance overall system capabilities and address complex problems more effectively. For instance, in March 2022, according to The International Business Machines Corporation, a US-based technology company, around 35–36% of global companies were already implementing AI, and 42–64% were exploring its potential in 2022. Further, around 64% of businesses believe that AI can improve business productivity, and 42% believe it can streamline job processes. Therefore, the increasing adoption of AI is driving the growth of the composite AI market.

Key Industry Players
Major companies operating in the composite ai market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Meta Platforms Inc., Intel Corporation , International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Infosys Limited, Baidu Inc., Genpact Limited, OpenText Coporation, SAS Institute Inc., Nutanix Inc. , Cloudera Inc., BlackSwan Technologies Inc., Gorilla Technology Group, Azion Technologies Inc., Tact.ai Technologies Inc., FogHorn Systems Inc., Veea Inc., ClearBlade Inc., Octonion SA, Anagog Ltd., E-SPIN Group of Companies, Exponential AI, Lalaland.ai

The composite ai market report table of contents includes:
1. Executive Summary

2. Composite AI Market Characteristics

3. Composite AI Market Trends And Strategies

4. Composite AI Market - Macro Economic Scenario

5. Global Composite AI Market Size and Growth

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32. Global Composite AI Market Competitive Benchmarking

33. Global Composite AI Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Composite AI Market

35. Composite AI Market Future Outlook and Potential Analysis

36. Appendix

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