Composite AI Market Outlook 2024-2033: Trends and Projections
Composite AI Market Expansion 2024-2033: Growth Drivers and Dynamics
Global Composite AI Market Analysis 2024: Size Forecast and Growth Prospects
Composite AI Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies
Global Composite AI Market Overview 2024: Size, Growth Rate, and Segments
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The composite ai global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Composite AI Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Composite AI Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Composite AI Market Overview
Market Drivers –
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.
Market Trends –
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 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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Composite AI Market Report Structure
3. Composite AI Market Trends And Strategies
4. Composite AI Market – Macro Economic Scenario
5. Composite AI Market Size And Growth
…..
27. Composite AI Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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