Cognitive Services Market
Global Cognitive Services Market Size, Share & Trends Analysis Report By Deployment (Cloud-Based and On-Premise), By Enterprise size (Small and Medium Enterprises and Large Enterprises), and By End-User Industry (BFSI, IT and Telecommunication, Retail, Healthcare, and other Industries) Forecast 2022-2028 Update Available - Forecast 2024-2030
The Cognitive Services market is expected to grow at a significant CAGR of 36.45% during the forecast period. The Cognitive Services market witnessing a boom due to the surge in the data and the incorporation of advanced machine learning algorithms. Due to which this facilitates the creation of an intelligent ecosystem driven by cognitive services. The services gained prominence when Microsoft released a set of intelligent technologies, which performed cognitive tasks, such as speech recognition, categorizing images, face detection, and language understanding, and after that the technology has made groundbreaking progress and has started to have significant implication on the business globally. Additionally, increasing utilization of cognitive services across various industries, such as banking, financial services, IT and telecommunication, and others is also supporting the growth of the market across the globe.
Impact of COVID-19 Pandemic on Cognitive Services Market
The COVID-19 pandemic had impacted the global economy due to slowdown in manufacturing of various industries. However, cognitive market had a positive impact during the pandemic, mainly due to the surging importance of the natural language processing (NLP) technique in healthcare and pharmaceutical organizations to support the healthcare professionals and scientists in many perspectives. During the crisis, these factors have broadly powered the growth of the cognitive market.
Segmental Outlook
The cognitive services market is segmented based on the deployment, enterprise size and end-user industry. By deployment, the market is segmented into cloud-Based and on-Premise. Based on the enterprise size, the market is sub-segmented into the small and medium enterprises and large enterprises. Based on end-user industry the market is sub segmented into BFSI, IT and Telecommunication, Retail, Healthcare, and Other Industries. Among these, the IT and Telecommunication segment is to grow significantly because, many IT and telecommunication companies are adopting cognitive services to improve their customer engagement, optimize operations, and gain a competitive edge over others.
Global Cognitive Services Market Share by Enterprises size, 2021 (%)
The Large enterprises is Holding a Prominent Share in the Global Cognitive Services Market
Large enterprises are holding the largest share in the market, mainly due to the extensive usage of cognitive techniques in large enterprises to support the employees to deal with complex decision-making. Additionally, the growing utilization of cognitive technologies in the healthcare sector support healthcare professionals to treat diseases in an improvised manner and also, increasing in banks and financial institutions to provide high-quality security systems. For instance, Nordstrom used his messenger chatbot, which went beyond simple predefined questions and answers and used cognitive services to truly understand what the customer was looking for and assist as needed and also recommended gifts and could even fulfil the order.
Regional Outlooks
The cognitive services market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The North America dominates the market and expected to do the same in the forecast period. Europe is expected to grow significantly as initiatives taken by the European union regarding smart manufacturing and the digitization of healthcare sector are expected to act as major driver for the market in this region.
Global Cognitive Services Market Growth, by Region 2022-2028
North America Region is estimated to Hold the Major Share in the Global Cognitive Services Market
North America is anticipated to hold a prominent share in the market mainly due to the presence of the technically progressive economies in the region such as Canada and the U.S., which are considered as the largest hub for the latest upcoming technologies. The major factors expected to fuel the regional growth of the cognitive market over the forecast period are due to the huge adoption of new technologies by local industries by this region to modernize and revolutionize their business activities.
Market Players Outlook
The major companies serving the global Cognitive Services market include Microsoft Corp., Amazon web services, Inc., Attivio, Inc., SAS Institute Inc., Google LLC, and others. The growth of market is considerably contributing by the market player for the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, Microsoft ignite develop a new feature called Spatial Analysis which helps organizations to optimize their physical spaces ans anzlyze people movement. It can count room capacity at given times, aggregate the footsteps taken in a store, analyze dwell time in front of a retail display, determine wait time in lines and measure the spaces between customers.
The Report Covers
- Market value data analysis of 2022 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cognitive services market. Based on the availability of data, information related to market, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on The Global Cognitive Services Market
• Recovery Scenario of Global Cognitive Services Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Microsoft Corp.
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Amazon Web Services, Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Attivio, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. SAS Institute Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Google LLC
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Cognitive Services Market by Deployment
4.1.1. Cloud-Based
4.1.2. On-Premise
4.2. Global Cognitive Services Market by Enterprise Size
4.2.1. Small and Medium Enterprises
4.2.2. Large Enterprises
4.3. Global Cognitive Services Market by End-User Industry
4.3.1. BFSI
4.3.2. IT and Telecommunication
4.3.3. Retail
4.3.4. Healthcare
4.3.5. Other Industries
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. International Business Machines Corp.
6.2. Cisco Systems, Inc.
6.3. BMC Software, Inc.
6.4. Qualcomm Technologies, Inc.
6.5. Nokia Corp.
6.6. Apple Inc.
6.7. TCS Ltd.
6.8. Softweb Solutions Inc.
6.9. Inbenta Technologies Inc.
6.10. AMELIA (IPsoft)
6.11. Folio3 Software Inc.
6.12. Nuance Communications
6.13. Verbio Technologies SL
6.14. CognitiveScale, Inc.
6.15. Fusion Informatics Ltd.
6.16. Softarex Technologies, Inc.
6.17. Baidu, Inc.
1. GLOBAL COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
2. GLOBAL CLOUD-BASED COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL ON-PREMISE COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2021-2028 ($ MILLION)
5. GLOBAL SMALL AND MEDIUM ENTERPRISES COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL LARGE ENTERPRISES COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
8. GLOBAL COGNITIVE SERVICES FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL COGNITIVE SERVICES FOR IT AND TELECOMMUNICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL COGNITIVE SERVICES FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL COGNITIVE SERVICES FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL COGNITIVE SERVICES FOR OTHER INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
15. NORTH AMERICAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
16. NORTH AMERICAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2021-2028 ($ MILLION)
17. NORTH AMERICAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
18. EUROPEAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. EUROPEAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
20. EUROPEAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2021-2028 ($ MILLION)
21. EUROPEAN COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTON CHANNEL, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
27. REST OF THE WORLD COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
28. REST OF THE WORLD COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD COGNITIVE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL COGNITIVE SERVICES MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL COGNITIVE SERVICES MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL COGNITIVE SERVICES MARKET, 2022-2028 (%)
4. GLOBAL COGNITIVE SERVICES MARKET SHARE BY DEPLOYMENT, 2021 VS 2028 (%)
5. GLOBAL CLOUD-BASED COGNITIVE SERVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL ON-PREMISE COGNITIVE SERVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL COGNITIVE SERVICES MARKET SHARE BY ENTERPRISE SIZE, 2021 VS 2028 (%)
8. GLOBAL SMALL AND MEDIUM ENTERPRISES COGNITIVE SERVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL LARGE ENTERPRISES COGNITIVE SERVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL COGNITIVE SERVICES MARKET SHARE BY END-USER INDUSTRY, 2021 VS 2028 (%)
11. GLOBAL COGNITIVE SERVICES FOR BFSI MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL COGNITIVE SERVICES FOR IT AND TELECOMMUNICATION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL COGNITIVE SERVICES FOR RETAIL MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL COGNITIVE SERVICES FOR HEALTHCARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL COGNITIVE SERVICES FOR OTHER INDUSTRIES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL COGNITIVE SERVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. US COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
18. CANADA COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
19. UK COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
20. FRANCE COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
21. GERMANY COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
22. ITALY COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
23. SPAIN COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF EUROPE COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
25. INDIA COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
26. CHINA COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
27. JAPAN COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
28. SOUTH KOREA COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF ASIA-PACIFIC COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD COGNITIVE SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
