Composite AI is combining different kinds of AI technologies to achieve the best and most apt results.
According to the MarkNtel Advisors’ research report, “Global Composite AI Market Analysis, 2021,” the market is likely to grow at a CAGR of around 35% during 2021-26 due to the mounting demand for AI-based cognitive solutions and the burgeoning need for evaluating complex data sets in data-sensitive companies.
Besides, enhancements in algorithms and technologies further augment the large-scale adoption of AI-based solutions. In addition to this, surging demand for improving business functions and evolving innovation across industries provides a lucrative opportunity to propel the growth of the Composite AI Market across the globe.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada|
|Europe: Germany, The UK, France, Italy|
|Asia-Pacific: China, India, Japan, South Korea|
|South America: Brazil, and Argentina|
|Middle East & Africa: GCC, Africa|
|Key Companies Profiled||Black Swan Technologies, SAS, E-SPIN Corp., Exponential AI, Opentext, Infosys, Lalaland|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
The outbreak of the COVID-19 pandemic has aided the demand for technological developments and new applications within different end-use verticals. Moreover, due to the spread of disease, the need for AI-enabled solutions in the healthcare sector witnessed tremendous growth for responding to any crises as quickly as possible.
Besides the healthcare sector, the demand for composite AI also experiences fast growth in the education sector to cater to a large consumer base without any service disturbance or delay.