Composite AI Global Market 2024 To Reach $5.08 Billion By 2028 At Rate Of 37.2%

The Business Research Company's Composite AI Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 12, 2024 /EINPresswire.com/ -- The composite AI market has experienced robust growth in recent years, expanding 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.

Strong Future Growth Anticipated
The composite AI market is projected to continue its strong growth, reaching $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.

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Growth Driver Of The Composite AI Market
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.

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Major Players And Market Trends
Key players in the composite AI market include 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.
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.

Segments:
1) By Offering: Hardware, Software, Services
2) By Technique: Conditioned Monitoring, Pattern Recognition, Data Processing, Proactive Mechanism, Data Mining And Machine Learning, Other Methods
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

Geographical Insights: North America Leading The Market
North America was the largest region in the composite AI market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of composite AI.

Composite AI Market Definition
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.

Composite AI Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Composite AI Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on composite AI market size, composite AI market drivers and trends, composite AI market major players, composite AI competitors' revenues, composite AI market positioning, and composite AI market growth across geographies. The composite AI market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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