Global Composite AI Market is valued approximately USD 972.1 million in 2023 and is anticipated to grow with a healthy growth rate of more than 38.53% over the forecast period 2024-2032. Composite AI is the combination of different AI methods, approaches, or models to generate more advanced and versatile AI systems. These systems can demonstrate better adaptability, robustness, and intelligence across a wide range of tasks and domains because they combine specialized talents to accomplish holistic knowledge and decision-making. Furthermore, rising convergence of AI with other emerging technologies are gaining attention towards Global Composite AI Market. The convergence of AI with other technologies leads to the development of synergistic solutions that address complex challenges more effectively. Through leveraging the strengths of different technologies, Composite AI systems can offer innovative solutions across diverse industries, including finance, retail, transportation, and agriculture.
Global Composite AI Market is driven by proliferation of Internet of Things devices and growing emphasis on ethical AI principles. IoT devices generate vast amounts of data from various sources such as sensors, actuators, cameras, and other connected devices. This data provides valuable insights into real-world phenomena, user behaviors, and environmental conditions. Composite AI can leverage this diverse and abundant data to train models, make predictions, and derive meaningful insights across different domains. In addition, regulatory scrutiny surrounding AI technologies necessitates adherence to ethical standards and legal requirements. Composite AI solutions that comply with regulations related to data protection, algorithmic transparency, and ethical use of AI are better positioned for market acceptance and scalability. However, concerns related to data privacy and unavailability of skilled workforce is going to impede the overall demand for the market during the forecast period 2024-2032.
The key regions considered for the Global Composite AI market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market in terms of revenue owing to factors such as increasing presence of advanced AI technology companies across the region. The presence of advanced AI technology companies contributes to the growth of an ecosystem of AI-related products, services, and tools. This ecosystem provides a rich repository of resources and components that can be integrated into Composite AI solutions, accelerating development, and reducing time-to-market. Furthermore, the market in Asia Pacific, on the other hand, is expected to grow at the fastest rate over the forecast period.
Major market player included in this report are:
- International Business Machines Corporation
- SAS Institute Inc
- Microsoft Corporation
- Google LLC
- Salesforce, Inc
- Amazon Web Services, Inc
- NVIDIA Corporation
- Intel Corporation
- SAP SE
- Squirro AG
The detailed segments and sub-segment of the market are explained below:
by Offering
- Software
- Hardware
- Services
by Industry Vertical
- Data processing
- Pattern recognition
- Machine learning
- Natural language processing
by Technique
- Product design and development
- Customer service
- Fraud detection
- Risk management
- Supply chain management
by Application
- Banking and financial services
- Healthcare
- Retail
- Manufacturing
- Transportation and logistics
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1.Global Composite AI Market Definition and Research Assumptions
- 1.1.Research Objective
- 1.2.Market Definition
- 1.3.Research Assumptions
- 1.3.1.Inclusion & Exclusion
- 1.3.2.Limitations
- 1.3.3.Supply Side Analysis
- 1.3.3.1.Availability
- 1.3.3.2.Infrastructure
- 1.3.3.3.Regulatory Environment
- 1.3.3.4.Market Competition
- 1.3.3.5.Economic Viability (Consumer's Perspective)
- 1.3.4.Demand Side Analysis
- 1.3.4.1.Regulatory frameworks
- 1.3.4.2.Technological Advancements
- 1.3.4.3.Environmental Considerations
- 1.3.4.4.Consumer Awareness & Acceptance
- 1.4.Estimation Methodology
- 1.5.Years Considered for the Study
- 1.6.Currency Conversion Rates
Chapter 2.Executive Summary
- 2.1.Global Composite AI Market Size & Forecast (2022- 2032)
- 2.2.Regional Summary
- 2.3.Segmental Summary
- 2.3.1.By Offering
- 2.3.2.By Industry Vertical
- 2.3.3.By Technique
- 2.3.4.By Application
- 2.4.Key Trends
- 2.5.Recession Impact
- 2.6.Analyst Recommendation & Conclusion
Chapter 3.Global Composite AI Market Dynamics
- 3.1.Market Drivers
- 3.2.Market Challenges
- 3.3.Market Opportunities
Chapter 4.Global Composite AI Market: Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.1.6.Futuristic Approach to Porter's 5 Force Model
- 4.1.7.Porter's 5 Force Impact Analysis
- 4.2.PESTEL Analysis
- 4.2.1.Political
- 4.2.2.Economic
- 4.2.3.Social
- 4.2.4.Technological
- 4.2.5.Environmental
- 4.2.6.Legal
- 4.3.Top investment opportunity
- 4.4.Top winning strategies
- 4.5.Disruptive Trends
- 4.6.Industry Expert Perspective
- 4.7.Analyst Recommendation & Conclusion
Chapter 5.Global Composite AI Market Size & Forecasts by Offering 2022-2032
- 5.1.Software
- 5.2.Hardware
- 5.3.Services
Chapter 6.Global Composite AI Market Size & Forecasts by Industry Vertical 2022-2032
- 6.1.Data processing
- 6.2.Pattern recognition
- 6.3.Machine learning
- 6.4.Natural language processing
Chapter 7.Global Composite AI Market Size & Forecasts by Technique 2022-2032
- 7.1.Product design and development
- 7.2.Customer service
- 7.3.Fraud detection
- 7.4.Risk management
- 7.5.Supply chain management
Chapter 8.Global Composite AI Market Size & Forecasts by Application 2022-2032
- 8.1.Banking and financial services
- 8.2.Healthcare
- 8.3.Retail
- 8.4.Manufacturing
- 8.5.Transportation and logistics
- 8.6.Others
Chapter 9.Global Composite AI Market Size & Forecasts by Region 2022-2032
- 9.1.North America Composite AI Market
- 9.1.1.U.S. Composite AI Market
- 9.1.1.1.Offering breakdown size & forecasts, 2022-2032
- 9.1.1.2.Industry Vertical breakdown size & forecasts, 2022-2032
- 9.1.1.3.Technique breakdown size & forecasts, 2022-2032
- 9.1.1.4.Application breakdown size & forecasts, 2022-2032
- 9.1.2.Canada Composite AI Market
- 9.2.Europe Composite AI Market
- 9.2.1.U.K. Composite AI Market
- 9.2.2.Germany Composite AI Market
- 9.2.3.France Composite AI Market
- 9.2.4.Spain Composite AI Market
- 9.2.5.Italy Composite AI Market
- 9.2.6.Rest of Europe Composite AI Market
- 9.3.Asia-Pacific Composite AI Market
- 9.3.1.China Composite AI Market
- 9.3.2.India Composite AI Market
- 9.3.3.Japan Composite AI Market
- 9.3.4.Australia Composite AI Market
- 9.3.5.South Korea Composite AI Market
- 9.3.6.Rest of Asia Pacific Composite AI Market
- 9.4.Latin America Composite AI Market
- 9.4.1.Brazil Composite AI Market
- 9.4.2.Mexico Composite AI Market
- 9.4.3.Rest of Latin America Composite AI Market
- 9.5.Middle East & Africa Composite AI Market
- 9.5.1. Saudi Arabia Composite AI Market
- 9.5.2. South Africa Composite AI Market
- 9.5.3.Rest of Middle East & Africa Composite AI Market
Chapter 10.Competitive Intelligence
- 10.1.Key Company SWOT Analysis
- 10.2.Top Market Strategies
- 10.3.Company Profiles
- 10.3.1.International Business Machines Corporation
- 10.3.1.1.Key Information
- 10.3.1.2.Overview
- 10.3.1.3.Financial (Subject to Data Availability)
- 10.3.1.4.Product Summary
- 10.3.1.5.Market Strategies
- 10.3.2.SAS Institute Inc
- 10.3.3.Microsoft Corporation
- 10.3.4.Google LLC
- 10.3.5.Salesforce, Inc
- 10.3.6.Amazon Web Services, Inc
- 10.3.7.NVIDIA Corporation
- 10.3.8.Intel Corporation
- 10.3.9.SAP SE
- 10.3.10.Squirro AG
Chapter 11.Research Process
- 11.1.Research Process
- 11.1.1.Data Mining
- 11.1.2.Analysis
- 11.1.3.Market Estimation
- 11.1.4.Validation
- 11.1.5.Publishing
- 11.2.Research Attributes