Global Composite AI

Global Composite AI Market Research Report: Forecast (2021-2026)

By Component (Hardware, Software, Services), By Process (Conditioned Monitoring, Pattern Recognition, Data Processing, Proactive Mechanism, Data Mining & Machine Learning, Others), By Function (Produc Read more

  • ICT & Electronics
  • May 2021
  • 232
  • IT22011

Market Overview

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.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR (2021-2026) 35%
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.

Market Segmentation

Software Segment Accounted for the Largest Market Share

Based on the component, the market classifies into Hardware, Software, and Services. Among these, the Software segment acquired the largest share in the Global Composite AI Market in the past few years. The segment growth attributes to the surging demand for advanced AI software across dynamic end-user sectors.

Moreover, the surging requirements of organizations to analyze their data and gain proper insights from it also boost the adoption of composite AI software and hence, propel the segment growth, cites MarkNtel Advisors in their research report, “Global Composite AI Market Analysis, 2021.”

Manufacturing Sector Dominated the Market

Based on the End-User, the market bifurcates into Finance, Healthcare, Government, Logistics, Automotive, and Manufacturing sectors. Of these sectors, Manufacturing captured a significant share in the Global Composite AI Market in the past few years, primarily due to the increased customer satisfaction, diverse application area, and improved productivity.

Further, using composite AI in the manufacturing sector is beneficial for workflow management and Big Data integration. Thus, these factors contribute to the manufacturing sector's growth.

Regional Landscape

North America Region Attained the Highest Market Share

Geographically, North America held the largest share in the Global Composite AI Market in the past few years due to the abundant availability of leading market players in the region. In addition to this, the promising government initiatives to promote the adoption of composite AI across various end-user verticals, including healthcare, automotive, and retail sectors, are amongst other crucial factors propelling the market growth in the North American region.

Market Driver

Surging Investments in AI technologies boost the Market Share

The mounting number of high-tech companies and small startups surge the adoption of AI-based platforms to attain high productivity and efficiency in their value chains. Further, the ability of composite AI technology to analyze and interpret the massive data collected efficiently through algorithms, resulting in increased productivity, thereby fueling the market growth.

Competitive Landscape

According to MarkNtel Advisors, the major leading players in the global Composite AI market are Black Swan Technologies, SAS, E-SPIN Corp., Exponential AI, Opentext, Infosys, and Lalaland.

Key Questions Answered in the Market Research Report:

  1. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Composite AI Market?
  2. What is the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Composite AI Market? 
  4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Composite AI Market based on a competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the Global Composite AI Market study?

Market Outlook, Segmentation and Statistics 

  • Impact of COVID-19 on Global Composite AI Market
  • Market Size & Analysis
    • Market Revenue
  • Market Share & Analysis
    • By Component
      • Hardware
      • Software
      • Services
    • By Process
      • Conditioned Monitoring
      • Pattern Recognition
      • Data Processing
      • Proactive Mechanism
      • Data Mining & Machine Learning
      • Others
    • By Function
      • Product Design & Development
      • Quality Control
      • Maintenance & Support
      • Security & Surveillance
      • Supply Chain Management
      • Customer Service
      • Others
    • By End User
      • Finance
      • Healthcare
      • Government
      • Logistics
      • Automotive
      • Manufacturing
      • Others
    • By Region
      • North America
      • South America
      • Europe
      • Middle East & Africa
      • Asia-Pacific
    • By Competitors
      • Competition Characteristics
      • Market Share & Analysis
      • Competitive Matrix
  • Global Composite AI Market Hotspots & Opportunities
  • Global Composite AI Market Regulations & Policy
  • Key Strategic Imperatives for Success and Growth
  • Global Competition Outlook
    • Competition Matrix
    • Company Profile

Frequently Asked Questions

A. The Global Composite AI Market is forecast to grow at a CAGR of 35% during 2021-26.

A. Black Swan Technologies, SAS, E-SPIN Corp., Exponential AI, Opentext, Infosys, Lalaland are a few leading players in the Global Composite AI Market.

A. Software Segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share

A. North America continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Composite AI Market.

A. Surging demand for AI-based cognitive solutions and the burgeoning need for evaluating complex data sets in data-sensitive companies are the primary factors backing the market growth.

A. The outbreak of the COVID-19 pandemic has aided the demand for technological developments and new applications within different end-use verticals, thereby positively influencing the market growth.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Composite AI Market
  5. Global Composite AI Market Government Regulations
  6. Global Composite AI Market Trends & Insights
  7. Global Composite AI Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  8. Global Composite AI Market Hotspot & Opportunities
  9. Global Composite AI Market Start-up Ecosystem, 2016-2021
    1. Entrepreneurial Activity
    2. Year On Year Funding Received
    3. Funding Received by Top Companies
    4. Key Investors Active in the Market
    5. Series Wise Funding Received
      1. Seed Funding
      2. Angel Investing
      3. Venture Capital
      4. Others
  10. Global Composite AI Market Analysis 2021-2026F
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Component
        1. Hardware
        2. Software
        3. Services
      2. By Process
        1. Conditioned Monitoring
        2. Pattern Recognition
        3. Data Processing
        4. Proactive Mechanism
        5. Data Mining & Machine Learning
        6. Others
      3. By Function
        1. Product Design & Development
        2. Quality Control
        3. Maintenance & Support
        4. Security & Surveillance
        5. Supply Chain Management
        6. Customer Service
        7. Others
      4. By End User
        1. Finance
        2. Healthcare
        3. Government
        4. Logistics
        5. Automotive
        6. Manufacturing
        7. Others
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia Pacific
  11. North America Composite AI Market Outlook, 2021-2026F
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Component
      2. By Process
      3. By Function
      4. By End User
      5. By Country
        1. The United States
        2. Canada
        3. Others
  12. South America Composite AI Market Outlook, 2021-2026F
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Component
      2. By Process
      3. By Function
      4. By End User
      5. By Country
        1. Brazil
        2. Others
  13. Europe Composite AI Market Outlook, 2021-2026F
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Component
      2. By Services
      3. By Function
      4. By End User
      5. By Country
        1. Germany
        2. France
        3. The UK
        4. Italy
        5. Others
  14. Middle East & Africa Composite AI Market Outlook, 2021-2026F
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Component
      2. By Services
      3. By Function
      4. By End User
      5. By Country
        1. GCC
        2. Africa
        3. Others
  15. Asia Pacific Composite AI Market Outlook, 2021-2026F
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Component
      2. By Services
      3. By Function
      4. By End User
      5. By Country
        1. China
        2. Japan
        3. South Korea
        4. India
        5. Others
  16. Global Composite AI Market Key Strategic Imperatives for Success & Growth
  17. Competition Outlook
    1. Competition Matrix
      1. Technology Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target Technology
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Black Swan Technologies
      2. SAS
      3. E-SPIN Corp.
      4. Exponential AI
      5. Opentext
      6. Infosys
      7. Lalaland
  18. Disclaimer
Global Composite AI Market Segmentation