Composite AI Market

Global Composite AI Market Size, Share & Industry Trends Analysis Report By Technique, By Vertical, By Application, By Offering, By Regional Outlook and Forecast, 2023 - 2030

Report Id: KBV-15811 Publication Date: June-2023 Number of Pages: 445
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Market Report Description

The Global Composite AI Market size is expected to reach $8.5 billion by 2030, rising at a market growth of 36.9% CAGR during the forecast period.

The need of Composite AI in Security & surveillance is growing as organizations may increase situational awareness, strengthen threat detection capabilities, automate monitoring procedures, and allow more effective and proactive security actions by using composite AI in security and surveillance. Therefore, Security & Surveillance acquired $83.4 million revenue in the market in 2022. Composite artificial intelligence (AI) may significantly advance numerous elements of safety monitoring, danger identification, and response. The market is predicted to expand due to the increased requirement for data protection since many firms have recently experienced severe security breaches and data breaches.

Composite AI Market Size - Global Opportunities and Trends Analysis Report 2019-2030

The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2023, Google LLC signed a partnership with Sysdig to integrate its generative artificial intelligence (AI) features with Sysdig's cloud security platform. The partnership would provide the joint customers of the two companies with secure cloud-based automation solutions that would drive better productivity. Additionally, In June, 2023, Salesforce extended its partnership with Google Cloud to develop solutions for AI-powered customer experience solutions. The partnership would allow the two companies to provide their clients with personalized customer experience solutions.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Market. In June, 2023, Microsoft Corporation extended its partnership with HCLTech, an Indian IT company, to provide generative AI-powered business transformation solutions to enterprises. The partnership would allow Microsoft to serve its customers in a better way by providing them with solutions for better decision-making through the use of AI-powered operational insights. Companies such as Intel Corporation, NVIDIA Corporation, SAP SE are some of the key innovators in the Market.

Composite AI Market - Competitive Landscape and Trends by Forecast 2030

Market Growth Factors

Real-time decision-making via integration with edge computing and IoT

Edge computing adoption is being fueled by the ubiquity of Internet of Things (IoT) devices and the need for real-time decision-making. By processing and analyzing data locally, composite AI systems linked with edge devices may lower latency and enable quicker insights and answers. This integration makes the deployment of composite AI solutions in edge computing settings possible. Intelligent applications and 5G/6G Internet of Things (IoT) networks rely heavily on edge computing. The IoT ecosystem creates enormous, heterogeneous, extremely noisy, spatiotemporal-correlated, real-time data streams that need intelligent learning for effective data analysis and insight extraction. These devices include sensors, mobiles, and memory units.

AI applications are becoming more intricate to improve performance and accuracy

The complexity of AI applications is increasing, necessitating the fusion of many AI models and technologies. Organizations are now dealing with the fact that training a large neural network using ML only sometimes scales to address challenges of growing complexity. In conclusion, the increasing complexity of AI applications will support the rise of the market for extraordinary performance and accuracy.

Market Restraining Factors

Issues with data security and privacy

Due to a lack of confidence in AI technology or incomplete awareness of its potential and constraints, some businesses could hesitate to employ composite AI solutions. Implementation challenges may also arise from worries about data security, privacy, and possible biases in AI algorithms. Data leaks and illegal access to private information are the key privacy issues with AI. Thus, over the projection period, worries about data security and privacy may restrain the development of the market.

Composite AI Market Share and Industry Analysis Report 2021

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.

Offering Outlook

Based on offering, the market is segmented into hardware, software, and services. The software segment held the highest revenue share in the market in 2022. Composite AI software often provides a platform or framework that enables the smooth integration and orchestration of several AI models or algorithms. It allows users to make better judgments by using the many capabilities of these AI components to address complex problems. Organizations may create sophisticated AI applications that process and analyze various data kinds, comprehend complicated patterns, provide insights, anticipate outcomes, and carry out activities that call for a mix of AI approaches using composite AI software.

Application Outlook

On the basis of application, the market is divided into product design & development, quality control, predictive maintenance, security & surveillance, customer service, and others. In 2022, the predictive maintenance segment registered a significant revenue share in the market. In predictive maintenance, which seeks to anticipate equipment breakdowns or maintenance requirements, composite AI may be beneficial. It provides better asset management methods, data-driven decision-making, and accurate projections.

Composite AI Market Share 2022

Software Outlook

Under software, the market is bifurcated into AI Development Platforms & Tools, ML Frameworks, AI Middleware, and other software. In 2022, the AI Development Platforms & Tools segment registered the largest revenue share in the market. Businesses and developers may now design and modify AI solutions more quickly and simply because of the emergence of low-cost and accessible AI tools and platforms like TensorFlow, PyTorch, and IBM Watson. AI systems may speed up software development procedures like code compilation and quality assurance, which can cut down on the time and expense involved in developing software.

Technique Outlook

Based on technique, the market is categorized into proactive mechanisms, data processing, pattern recognition, conditioned monitoring, data mining & machine learning, and others. In 2022, the data mining & machine learning segment projected a prominent revenue share in the market. Techniques for data mining and machine learning are essential for commercializing Composite AI solutions. Composite AI systems that combine data mining and machine learning methods allow the system to analyze enormous volumes of data, find patterns, anticipate the future, and improve decision-making. Using data's power allows composite AI systems to offer intelligent, adaptive, and context-aware capabilities across a range of domains and applications.

Vertical Outlook

Based on the vertical, the market is segmented into BFSI, retail & eCommerce, manufacturing, energy & utilities, transportation & logistics, healthcare & life sciences, media & entertainment, government & military, telecom, and others. The BFSI segment registered the maximum revenue share in the market in 2022. In the BFSI industry, composite AI solutions are used for various purposes, including compliance and regulatory reporting, risk assessment and management, customer service, credit scoring, and fraud detection and prevention.

Composite AI Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 722 Million
Market size forecast in 2030 USD 8.5 Billion
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2030
Revenue Growth Rate CAGR of 36.9% from 2023 to 2030
Number of Pages 445
Number of Table 742
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling
Segments covered Technique, Vertical, Application, Offering, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Real-time decision-making via integration with edge computing and IoT
  • AI applications are becoming more intricate to improve performance and accuracy
Restraints
  • Issues with data security and privacy

Regional Outlook

Region wise, the market is analysed across North America, Europe, Asia Pacific and LAMEA.  The North America region led the market with highest revenue share in 2022. North America is a global leader in implementing and expanding composite AI solutions. The existence of cutting-edge AI technology businesses, strong R&D skills, and a developed market ecosystem all play a role in the region's fast rise of composite AI solutions. Composite AI is being used by major sectors, including healthcare, retail, BFSI, and manufacturing, to promote innovation, improve consumer experiences, and increase operational effectiveness.

Free Valuable Insights: Global Composite AI Market size to reach USD 8.5 Billion by 2030

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAS Institute, Inc., Microsoft Corporation, Google LLC (Alphabet Inc.), Salesforce, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), NVIDIA Corporation, Intel Corporation, SAP SE, and Squirro AG

Strategies deployed in the Market

Partnerships, Collaborations and Agreements:

  • Jun-2023: Microsoft Corporation extended its partnership with HCLTech, an Indian IT company, to provide generative AI-powered business transformation solutions to enterprises. The partnership would allow Microsoft to serve its customers in a better way by providing them with solutions for better decision-making through the use of AI-powered operational insights.
  • Jun-2023: Google LLC signed a partnership with Sysdig, a cloud-based security solutions provider, to integrate its generative artificial intelligence (AI) features with Sysdig's cloud security platform. The partnership would provide the joint customers of the two companies with secure cloud-based automation solutions that would drive better productivity.
  • Jun-2023: Google LLC partnered with Twilio Inc., a customer engagement platform, to integrate Twilio’s customer engagement offerings with Google Cloud's generative artificial intelligence (AI). The partnership would allow Google to provide its clients with AI-powered customer engagement tools that would drive their business growth.
  • Jun-2023: Salesforce extended its partnership with Google Cloud, a cloud platform offered by Google, to develop solutions for AI-powered customer experience solutions. The partnership would allow the two companies to provide their clients with personalized customer experience solutions. 
  • Jun-2023: Amazon Web Services Inc. announced an extended partnership with Lacework Inc., a cloud security services provider, to integrate Amazon GuardDuty with Lacework's portfolio. The partnership would allow Amazon Web Services to provide its customers with anomaly detection solutions that would drive better security outcomes.
  • May-2023: Microsoft Corporation signed a partnership with NVIDIA, an American technology company, to provide solutions for Ai-powered business transformation. The partnership features a combination of Microsoft’s Azure Machine Learning with NVIDIA AI Enterprise software that would allow the joint customers of the two companies to gain access to a protected business platform.
  • May-2023: NVIDIA Corporation partnered with ServiceNow, a software company based in the US, to provide workflow automation capabilities. The partnership would allow NVIDIA to serve its IT customers in a better way by providing them with generative AI solutions.
  • May-2023: SAP SE signed a partnership with Google Cloud, a cloud platform offered by Google, to integrate Google Cloud’s Data and Analytics Technology with SAP's portfolio. The partnership enables SAP to serve its customers in a better way by providing them with a portfolio that would simplify the data landscapes, perform advanced analysis and provide quick access to important business-related data.
  • Feb-2023: IBM Corporation announced a partnership with NASA, an American civil space agency, to develop AI-powered solutions for contextual analysis. The solutions developed by IBM in the course of this partnership would be useful to several other organizations including NASA, thereby, allowing IBM to strengthen its market position.
  • Feb-2023: Amazon Web Services, Inc. partnered with Baker Hughes, an energy technology solutions provider, to develop solutions for automated field production. The partnership would allow the joint customers of the two companies to increase their productivity by providing them with solutions for proactive management and automated field production.
  • Dec-2022: SAS Institute, Inc. entered into a partnership with Basserah, a data solutions provider based in Saudi Arabia, to provide solutions for data analytics to Saudi enterprises. The partnership allows SAS to expand its data analytics offerings and would allow the company to enhance its market share in the Saudi region.
  • Nov-2022: Squirro AG teamed up with Semantic Web Company, a knowledge graph provider, to launch Composite AI solutions. The collaboration would provide the joint customers of the two companies with better decision-making solutions by combining Squirro’s Insight Engine with Semantic Web Company’s knowledge graph technology.
  • Sep-2022: Salesforce, Inc. entered into a partnership with AWS, an IT services provider based in the United States, to integrate the Salesforce Platform with Amazon SageMaker. The partnership allows the two companies to provide their customers with solutions to build business-specific AI models.
  • May-2021: SAP extended its partnership with Team Liquid, a leading worldwide professional esports organization. By using the power of SAP HANA, predictive & machine learning functionalities, and the SAP Business Technology Platform, Team Liquid would more rapidly and efficiently evaluate opponents’ approaches.
  • Jan-2021: SAP SE extended its partnership with Microsoft, an American multinational technology company. This partnership aimed to combine Microsoft Teams with SAP’s intelligent portfolio of solutions and boost the adoption of SAP S/4HANA on Microsoft Azure. In addition, the companies also focus on simplifying and streamlining users' journeys to the cloud.

Product Launches and Product Expansions:

  • May-2023: IBM Corporation announced the launch of the Watsonx Platform, an AI-powered solution that provided end-to-end workflow solutions. The Watsonx Platform features three product sets namely, IBM watsonx.ai, an AI-powered solution that facilitates generative AI and machine learning deployment, IBM Watsonx.data, a data store used for AI workloads and governed data applications and IBM Watsonx.governance, an AI-workflow solution.
  • Apr-2023: Amazon Web Services announced the launch of Bedrock, a service used for developing generative AI applications. The Bedrock features accessibility to Amazon's Titan language models and customizability for data-specific needs. Furthermore, Bedrock can also be used with third-party language models.
  • Mar-2023: Salesforce, Inc. announced the launch of Einstein GPT, a CRM technology solution that utilizes AI to provide AI-created content at a hyper-scale. The Einstein GPT is compatible with Salesforce Data Cloud and features OpenAI’s chatbot technology.
  • Mar-2023: NVIDIA Corporation introduced the NVIDIA NeMo framework and NVIDIA Picasso service. The NVIDIA NeMo framework is used for deploying large language models (LLMs) and facilitating enterprise hyper-personalization. The NeMo framework features NVIDIA DGX Cloud. The NVIDIA Picasso service is purely cloud-based and is used to create and deploy generative AI-based visuals. The Picasso service features Edify foundation for generating high-definition videos and images.
  • Mar-2023: SAP SE unveiled SAP Datasphere, a cloud-based data warehouse used for data integration and data cataloguing applications. The Datasphere features the SAP Business Technology Platform (BTP) used for data protection and governance purposes. Furthermore, Datasphere can be used with third-party technologies to overcome errors in data management.
  • Feb-2023: Google LLC unveiled Bard, a chatbot that leverages the use of AI for better results. Bard features the use of Google's Lambda language model that would facilitate humanlike interaction between the user and the chatbot.

Scope of the Study

Market Segments Covered in the Report:

By Technique

  • Data Processing
  • Data Mining & Machine Learning
  • Conditioned Monitoring
  • Pattern Recognition
  • Proactive Mechanism & Others

By Vertical

  • BFSI
  • Telecommunications
  • Retail & eCommerce
  • Healthcare & Lifesciences
  • Media & Entertainment
  • Energy & Power
  • Transportation & Logistics
  • Government & Defense
  • Manufacturing
  • Others

By Application

  • Product Design & Development
  • Quality Control
  • Predictive Maintenance
  • Security & Surveillance
  • Customer Service & Others

By Offering

  • Hardware
    • Processors
    • Memory Units
    • Networks
    • Others
  • Software
    • AI Development Platforms & Tools
    • ML Framework
    • AI Middleware & Others
  • Services

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • IBM Corporation
  • SAS Institute, Inc.
  • Microsoft Corporation
  • Google LLC (Alphabet Inc.)
  • Salesforce, Inc.
  • Amazon Web Services, Inc. (Amazon.com, Inc.)
  • NVIDIA Corporation
  • Intel Corporation
  • SAP SE
  • Squirro AG
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Frequently Asked Questions About This Report

The Market size is projected to reach USD 8.5 billion by 2030.

AI applications are becoming more intricate to improve performance and accuracy are driving the Market in coming years, however, Issues with data security and privacy restraints the growth of the Market.

IBM Corporation, SAS Institute, Inc., Microsoft Corporation, Google LLC (Alphabet Inc.), Salesforce, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), NVIDIA Corporation, Intel Corporation, SAP SE, and Squirro AG

The Data Processing segment is generating the highest revenue share in the Global Composite AI Market by Technique in 2022, achieving a market value of $2.9 billion by 2030.

The Product Design & Development segment is leading the Global Composite AI Market by Application in 2022, achieving a market value of $3.0 billion by 2030.

The North America market dominated the Global Composite AI Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.2 billion by 2030.

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