Composite AI Market to Reach USD 14.9 Billion by 2032

According to analysts at Vantage Market Research, the Global Composite AI Market size is worth USD 0.96 Billion in 2023 and is projected to reach USD 14.9 Billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 35.6% from 2024 to 2032. Key drivers in the global market include AI-driven design optimization, smart manufacturing, enhanced quality control, sustainability initiatives, and integration with digital twins to improve performance and lifecycle management.

Market Overview

The rise of Internet of Things (IoT) devices and the demand for real-time decision-making are accelerating the market growth for composite AI market. By integrating Composite AI solutions with edge devices, data can be processed and analyzed locally, which minimizes latency and allows for quicker insights and responses. This integration opens up opportunities for deploying Composite AI in edge computing scenarios. Edge computing supports intelligent applications & 5G/6G IoT networks by offering benefits like reduced latency, rapid responses, context-aware services, mobility, and enhanced privacy. It extends the cloud by providing intermediate services closer to the network edge, thus improving service quality for applications sensitive to latency. The integration of emerging technologies such as IoT, wireless sensor networks (WSNs), cloud/edge computing, & 5G/6G communication networks across sectors like healthcare, agriculture, education, & transportation can enhance quality of life by creating intelligent systems that offer high-quality, innovative services.

AI applications are increasingly complex, necessitating the integration of multiple AI technologies and models to address sophisticated challenges. While machine learning (ML) effectively handles many classification and recognition tasks, it often falls short for problems requiring deeper understanding. Additionally, ML's demands for extensive training data and computational resources can be prohibitive. Composite AI solutions address these limitations by combining diverse AI algorithms and components, enhancing performance and accuracy. 

SAS Unveils SAS Decision Builder on Microsoft Fabric

• SAS, a leader in data and AI, has launched SAS Decision Builder in private preview on Microsoft Fabric. This cloud-based intelligent decisioning solution utilizes SAS’s advanced decision-making tools to improve customer decisions by combining multiple AI models, rules, and procedural logic into a single workflow

Key Takeaways from the Report

• In 2023, North America dominated the market with 35.2% market share, driven by the strong government support for AI adoption, substantial investments in research and development, and the presence of leading technology companies and academic institutions
• The product design and development segment are anticipated to account for 26.3% of the market share during the forecast period due to the growing need for innovative AI-driven solutions that can enhance product lifecycle management, optimize design processes, and accelerate time-to-market
• By Vertical, the BFSI segment is projected to maintain its dominance in the global market, driven by growing adoption of advanced technologies like artificial intelligence, machine learning, and data analytics is transforming the BFSI sector

Top Companies

• Microsoft
• Google
• AWS
• IBM
• SAS Institute
• BlackSwan Technologies
• Oracle
• Salesforce
• SAP
• NVIDIA
• Intel

Report Coverage

Our market research reports provide comprehensive insights that are essential for strategic decision-making. We cover all key aspects of the market, including dynamics such as drivers, restraints, opportunities, and challenges, alongside the latest industry trends. Our analysis includes an in-depth technology roadmap, product life cycle evaluation, and PESTLE analysis, ensuring a thorough understanding of the market environment. We also assess GDP growth outlooks, examine regional market landscapes, and evaluate the impact of major events like the COVID-19 pandemic. Additionally, our reports feature a detailed competitive landscape, including company market shares and profiles, providing actionable intelligence to empower your business strategies.

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