The global cognitive services market is anticipated to grow at a considerable CAGR of 36.45% during the forecast period (2022-2028). The speeding up of IT and Telecommunication industry is one of the prime factors affecting and driving the market. The cognitive services are supporting the telecommunication industry in aligning their core business tasks by automating support bots by understanding natural language and translating text. Additionally, companies in the telecommunication and IT sector are also adopting cognitive services to improve their customer engagement, optimize operations and gain a competitive edge over others. Companies are also leveraging cognitive services to extract the valuable data from a lake of data. So, the adaptation of artificial intelligence and the internet of things is supporting the growth of the cognitive services market.
Browse the full report description of “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” at https://www.omrglobal.com/industry-reports/cognitive-services
A part from this certain restrains and challenges faced in cognitive services which will hamper the growth of the market. Strict external regulations are there for cognitive services in various regions and therefore are the biggest restriction of the market, another is the high cost associated with the implementation of cognitive services that might also restrict the growth of the market up to a certain extent over the forecast period.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Deployment
o By Enterprise size
o By End-user Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Microsoft Corp., Amazon web services, Inc., Attivio, Inc., SAS Institute Inc., Google LLC, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Cognitive Services Market Report Segment
By Deployment
By Enterprise size
By End-user Industry
Global Cognitive Service Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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