Cognitive Services Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Cognitive Services is a set of machine learning, application programming interfaces (APIs), and artificial intelligence (AI) algorithms for building intelligent applications. The increasing demand for cognitive services to develop smarter products, make smarter decisions, build new variants of customer engagement, and improve the overall internal performance. Further, cognitive services offer various benefits such as streamline the business processes and help to achieve operational efficiencies and higher revenues by automating the various business processes, thereby increasing demand for the cognitive services market.

MARKET DYNAMICS

Cognitive services leverage the benefits of technologies, such as deep learning, machine learning, and NLP, to analyze trends that enable enterprises to develop applications that are capable of the understanding image, text, video, and audio data. Growing adoption of an IoT and artificial intelligence (AI) is one major factor triggering the growth of cognitive services market. However, lack of awareness across industries may restraint the growth of the cognitive services market. The rising use of cognitive services across vertical and increasing demand for intelligent APIs to build smarter applications is expected to provide lucrative opportunities for the cognitive services market during the forecast period.

MARKET SCOPE

The "Global Cognitive Services Market Analysis to 2031" is a specialized and in-depth study of the Cognitive services industry with a special focus on the global market trend analysis. The report aims to provide an overview cognitive services market with detailed market segmentation technology, service type, deployment type, application, end-user, and geography. The global cognitive services market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Cognitive services market player and offers key trends and opportunities in the Cognitive services market.

MARKET SEGMENTATION

The global Cognitive services Market is segmented on the basis of technology, service type, deployment type, application, end-user. On the basis of technology the market is segmented as machine learning, natural language processing. On the basis of service type the market is segmented as cloud and web-based application programming interface, data transformation, data integration and cognitive automation, cognitive risk intelligence, consulting and advisory, training and support, others. On the basis of deployment type the market is segmented as cloud, on-premises. On the basis of application the market is segmented as marketing analysis, safety and security management, supply chain management, predictive maintenance, quality management investigation and recommendation, diagnosis and treatment system, others. On the basis of end-user the market is segmented as BFSI, IT and telecom, government and education, retail, manufacturing, healthcare, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Cognitive services market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The cognitive services market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting Cognitive services market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the cognitive services market in these regions.

MARKET PLAYERS

The reports cover key developments in the Cognitive services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Cognitive services market are anticipated to lucrative growth opportunities in the future with the rising demand for Cognitive services in the global market. Below mentioned is the list of few companies engaged in the cognitive services market.

The report also includes the profiles of key Cognitive services companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•  Amazon Web Services, Inc.
  
•  Attivio
  
•  BMC Software, Inc.
  
•  IBM Corporation
  
•  Microsoft Corporation
  
•  Nokia Corporation
  
•  Nuance Communications, Inc.
  
•  Progress Software Corporation
  
•  Softweb Solutions Inc. (Avnet, Inc.)
  
•  Tallan, Inc.
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Cognitive Services Report Scope