:The 80386 could work in an address space larger than a single 2^32-byte address space, using segmented addresses.  It might take a lot of "segment not present" faults doing so, however, as those segments all have to get stuffed into a 2^32-byte linear address space, just as an 80386 would work, without using segmented addresses, in a 2^32-byte address space on a machine with, for example, 1MiB of main memory, but take a lot of page faults doing so. 

 :This is a bit different from other segmented systems, where there's no requirement to stuff segments into a fixed-size virtual address space on top of stuffing the relevant pages into a possibly-limited physical address space, so the OS memory management could would have to do more work, and code running in a large segmented address space might get slowed down by all the "segment not present" faults.  You'd also have to use two instructions to load pointers, loading the segment portion of the pointer into a segment register with one instruction and loading the offset with another instruction, and the programmer or the compiler would have to deal with a limited number of segment registers. 

 :And, as with other segmented systems, it'd be difficult to manage single objects, such as large arrays, bigger than the maximum segment size. 

 :Perhaps it's better to speak of the 80286 segmented address space as 14+16 bits, and the IA-32 segmented address space as 14+32 bits, to indicate that they're not linear address spaces.