Composite AI Market Size and Forecast 2024-2033|Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Meta Platforms Inc., Intel Corporation

The Composite AI Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Composite AI Global Market Report 2024, 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.

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.

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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

Major companies operating in the composite AI market are focused on innovating new technologies, such as artificial intelligence platforms, to provide reliable services to customers. An Artificial Intelligence (AI) platform refers to a hardware architecture or software framework that enables the operation of software and the performance of tasks that mimic the cognitive abilities of humans, including learning, reasoning, problem-solving, and social intelligence. For instance, in October 2023, Fujitsu Limited, a Japan-based information technology company, launched Fujitsu’s Kozuchi AI platform. The platform provides cutting-edge AI technologies and expedites the verification of various applications in various industries, including manufacturing, retail, finance, and healthcare, to streamline access to AI and machine learning (ML) solutions and promote a sustainable society. The new technology is a component of Fujitsu’s Composite AI framework, which combines various AI innovation components to solve customers’ increasingly complex problems, including demand forecasting and production scheduling.

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

26. South America Composite AI Market

27. Brazil Composite AI Market

28. Middle East Composite AI Market

29. Africa Composite AI Market

30. Composite AI Market Competitive Landscape And Company Profiles

Top Major Players: