Global Cognitive Services Market, By Technology (Machine Learning and Deep Learning and Natural Language Processing), Service Type (Cloud and Web-Based Application Programming Interface, Data Transformation, Knowledge Management, Data Integration and Cognitive Automation, Cognitive Risk Intelligence, Consulting and Advisory, Training and Support, Communication Monitoring and Others), Deployment Mode (Cloud, and On-Premise), Application (Marketing Analysis, Predictive Maintenance, Supply Chain Management, Quality Management Investigation and Recommendation, Safety and Security Management, Diagnosis and Treatment System and Others), End-User (Small and Medium-Sized Enterprises and Large Enterprises), Vertical (Banking, Financial Services, and Insurance, Healthcare, Retail, IT and Telecommunication, Government and Education, Manufacturing and Others) Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Cognitive Services Market
Data Bridge Market Research analyses that the cognitive services market will exhibit a CAGR of 37.93% for the forecast period of 2022-2029. Data Bridge Market Research report on cognitive services market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
A cognitive service is an API model that includes APIs for language, vision, speech, search, and knowledge. It's a tool for creating artificial intelligence and cognitive computing applications that extract commercial value from unstructured data. It integrates strong intelligence into apps to allow for natural and contextual interactions.
Increased market adoption and increased interest in the internet of things are two main reasons driving the growth of the Cognitive Services Platform Market. People are now more capable of understanding artificial intelligence and its capabilities, resulting in market growth.
Another factor driving market growth is the growing demand for real-time data analysis. It is utilised to aid in the alignment of organisational core activity with business objectives, as well as the increasing demand for cognitive services as data quantities expand. The rising demand for intelligent APIs represents an opportunity.
However, the rising issue of security and safety, data leak, hacking, and a lack of awareness about the internet of things and artificial intelligence are all important restraints on market growth. Further lack of skilled IT professionals will also act as a restraint for the market.
This cognitive services market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on cognitive services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Cognitive Services Market Scope and Market Size
Cognitive services market is segmented on the basis of technology, service type, deployment mode, application, end-user and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on technology, cognitive services market is segmented into machine learning and deep learning and natural language processing. Machine learning and deep learning and natural language processing is sub-segmented into facial recognition and emotion detection.
- Based on service type, cognitive services market is segmented into cloud and web-based application programming interface, data transformation, knowledge management, data integration and cognitive automation, cognitive risk intelligence, consulting and advisory, training and support, communication monitoring and others.
- Based on deployment mode, cognitive services market is segmented into cloud and on-premises.
- Based on application, cognitive services market is segmented into marketing analysis, predictive maintenance, supply chain management, quality management investigation and recommendation, safety and security management, diagnosis and treatment system and others.
- Based on end-user, cognitive services market is segmented into small and medium-sized enterprises and large enterprises.
- Based on vertical, cognitive services market is segmented into banking, financial services, and insurance, healthcare, retail, IT and telecommunication, government and education, manufacturing and others.
Cognitive Services Market Country Level Analysis
Cognitive services market is segmented on the basis of technology, service type, deployment mode, application, end-user and vertical.
The countries covered in the cognitive services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific will however, register the highest CAGR for this period due to the changing market competitive scenario, digital capability and security spending are increasing.
The country section of the cognitive services market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cognitive Services Market Share Analysis
The cognitive services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies’ focus on the cognitive services market.
Some of the major players covered in the cognitive services market report are IBM, Attivio Networks Inc., Amazon Web Services, Inc., Qualcomm Technologies, Inc., Nuance Communications, Inc., Apple Inc., Tata Consultancy Services Limited., Nokia., Expert System S.p.A., Version Technologies S.L., Softweb Solutions Inc., Folio3 Software Inc., Inbenta Technologies Inc., Microsoft, SONYCorporation, BMC Software, Inc. Alcatel-Lucent SA. Athonet srl; NetNumber Inc., Telensa, Actility S.A., LINK LABS, Telia Company, Accent Advanced Systems, SLU, MediaTek Inc. and Halberd Bastion Pty Ltd among others.
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