Cognitive Services Market Overview
Organizations are rapidly working toward streamlining their business processes to attain operational efficiencies and higher revenues. The business objectives are often achieved by delivering higher products and services, enhancing businesses’ operations, and planning growth strategies. Cognitive services supply a scientific way to attain these objectives by reducing the efforts needed to figure on repetitive tasks. As an example, digital assistants are employed in varied verticals to hold out easy tasks, associated are engineered with an aim to interpret and answer plain texts and voice queries. Organizations will cut back the human efforts needed to finish tasks by deploying digital assistants into their operations. Hence, the digital assistants change workers to think about their core work by reducing the time needed to finish the tasks. Except for the digital assistants, varied arthropod genus that embrace vision, speech, text, and search capabilities are enjoying a vital role within the method of automation and information analysis. As an example, Microsoft is offering its cognitive Services Text Analytics apis to BlueBolt Solutions, a Microsoft partner. The cognitive services would be wont to alter the method of document classification; as a result, information consultants will save many hours needed to classify the documents. These examples show that psychological feature services have become crucial in automating varied business processes, thereby serving to organizations target achieving their business objectives.
Cognitive services offered within the variety of arthropod genus and SDKs are enjoying a vital role in sanctioning organizations to integrate intelligent capabilities with their business applications. Cognitive service suppliers facilitate varied end-user verticals in information analysis processes, which, in turn, help them solve their business challenges.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Deployment Mode , Service Type, End User and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | IBM , Microsoft , Cisco Systems , Nuance Communications , BMC Software , Qualcomm Technologies, Inc. |
The covid-19 Impact on Cognitive Services Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor Industry. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor Industry. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Cognitive Services Market Segment Overview
Based on segment Deployment Mode, the market is divided into On-Premises and Cloud. The Cloud primarily based phase command the largest market share. The factors may be attributed to the event of strong cloud-based solutions. Also, Cloud-based psychological feature services are versatile and simply accessible for enterprises.
Based on service type, cognitive services market is segmental into cloud and web-based application programming interface, information transformation, information management, information integration and psychological feature automation, psychological feature risk intelligence, consulting and informative, training and support, communication monitoring et al.
Based on End user, the market is divided into Banking, financial Services, and Insurance, IT and Telecommunication, Retail, and Others. The IT and Telecommunication segment is predicted to hold the foremost vital CAGR within the forecast amount because of the high adoption of the psychological feature services among IT and Telecommunication corporations, because it contributes in automating support bots by understanding linguistic communication and translating text for his or her core business tasks. Therefore, it ends up in ever-changing the medium back offices into intelligent client support team.
Market Analysis, Insights and Forecast – By Deployment Mode
· On-Premises
· Cloud
Market Analysis, Insights and Forecast – By Service Type
· Knowledge management
· Data transformation
· Cloud and web-based Application Programming Interfaces (APIs)
· Data integration and cognitive automation
· Cognitive risk intelligence
· Consulting and advisory
· Training and support
· Communication monitoring
· Others
Market Analysis, Insights and Forecast – By End User
· Banking, Financial Services, and Insurance
· IT and Telecommunication
· Retail
· Others
Cognitive Services Market Regional Overview
Region-wise, in terms of regions, the Global cognitive Services Market is classified into North America, Europe, Asia Pacific, and also the rest of the world. The largest share within the market is going to be dominated by the Asia Pacific region. The first acceptance of rising technologies and rising focus towards digital capability and increase within the security expenditure across the region due to the dynamic market scenario can drive the market. Cognitive risk intelligence service addresses problems associated with cybersecurity, which can contribute to the market growth within the region. Whereas the Europe region is calculable to grow at vital CAGR due to the rise within the sectors, like sensible producing and also the conversion of the healthcare sector across the region.
Cognitive Services Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Cognitive Services Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Cognitive Services are highlighted below.
· In 2018, Microsoft updated its cognitive Services portfolio with the addition of many innovative options. The corporate conjointly declared the supply of latest services, like Unified Speech service and Bing Visual Search, through its psychological feature Services portfolio. Additionally to the present, the corporate dilated its psychological feature Services Labs of innovative technologies.
Cognitive Services Market, Key Players
· IBM
· Microsoft
· Cisco Systems
· Nuance Communications
· BMC Software
· Qualcomm Technologies, Inc.
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Cognitive Services market during the forecast period?
Cognitive Services market is expected to record a CAGR of ~ xx% during the forecast period.
Q2. Which segment is projected to hold the largest share in the Cognitive Services Market?
On premise segment is projected to hold the largest share in the Cognitive Services Market.
Q3. What are the driving factors for the Cognitive Services market?
Organizations are rapidly working toward streamlining their business processes to attain operational efficiencies and higher revenues are a key factor that boosts the growth of the Cognitive Services market progressively
Q4. Which Segments are covered in the Cognitive Services market report?
Deployment Mode, Service Type, End User and Region, these segments are covered in the Cognitive Services market report
Q5. Which are the prominent players offering Cognitive Services?
IBM, Microsoft, Cisco Systems, Nuance Communications, BMC Software, Qualcomm Technologies, Inc. are the prominent players offering Cognitive Services
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Deployment Mode
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Cognitive Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Deployment Mode
- 5.2.1. On-Premises
- 5.2.2. Cloud
- 5.3. Market Analysis, Insights and Forecast – By Service Type
- 5.3.1. Knowledge management
- 5.3.2. Data transformation
- 5.3.3. Cloud and web-based Application Programming Interfaces (APIs)
- 5.3.4. Data integration and cognitive automation
- 5.3.5. Cognitive risk intelligence
- 5.3.6. Consulting and advisory
- 5.3.7. Training and support
- 5.3.8. Communication monitoring
- 5.3.9. Others
- 5.4. Market Analysis, Insights and Forecast – By End User
- 5.4.1. Banking, Financial Services, and Insurance
- 5.4.2. IT and Telecommunication
- 5.4.3. Retail
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East, and Africa
6. North America Cognitive Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Deployment Mode
- 6.2.1. On-Premises
- 6.2.2. Cloud
- 6.3. Market Analysis, Insights and Forecast – By Service Type
- 6.3.1. Knowledge management
- 6.3.2. Data transformation
- 6.3.3. Cloud and web-based Application Programming Interfaces (APIs)
- 6.3.4. Data integration and cognitive automation
- 6.3.5. Cognitive risk intelligence
- 6.3.6. Consulting and advisory
- 6.3.7. Training and support
- 6.3.8. Communication monitoring
- 6.3.9. Others
- 6.4. Market Analysis, Insights and Forecast – By End User
- 6.4.1. Banking, Financial Services, and Insurance
- 6.4.2. IT and Telecommunication
- 6.4.3. Retail
- 6.4.4. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Cognitive Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Deployment Mode
- 7.2.1. On-Premises
- 7.2.2. Cloud
- 7.3. Market Analysis, Insights and Forecast – By Service Type
- 7.3.1. Knowledge management
- 7.3.2. Data transformation
- 7.3.3. Cloud and web-based Application Programming Interfaces (APIs)
- 7.3.4. Data integration and cognitive automation
- 7.3.5. Cognitive risk intelligence
- 7.3.6. Consulting and advisory
- 7.3.7. Training and support
- 7.3.8. Communication monitoring
- 7.3.9. Others
- 7.4. Market Analysis, Insights and Forecast – By End User
- 7.4.1. Banking, Financial Services, and Insurance
- 7.4.2. IT and Telecommunication
- 7.4.3. Retail
- 7.4.4. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Cognitive Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Deployment Mode
- 8.2.1. On-Premises
- 8.2.2. Cloud
- 8.3. Market Analysis, Insights and Forecast – By Service Type
- 8.3.1. Knowledge management
- 8.3.2. Data transformation
- 8.3.3. Cloud and web-based Application Programming Interfaces (APIs)
- 8.3.4. Data integration and cognitive automation
- 8.3.5. Cognitive risk intelligence
- 8.3.6. Consulting and advisory
- 8.3.7. Training and support
- 8.3.8. Communication monitoring
- 8.3.9. Others
- 8.4. Market Analysis, Insights and Forecast – By End User
- 8.4.1. Banking, Financial Services, and Insurance
- 8.4.2. IT and Telecommunication
- 8.4.3. Retail
- 8.4.4. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa Cognitive Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Deployment Mode
- 9.2.1. On-Premises
- 9.2.2. Cloud
- 9.3. Market Analysis, Insights and Forecast – By Service Type
- 9.3.1. Knowledge management
- 9.3.2. Data transformation
- 9.3.3. Cloud and web-based Application Programming Interfaces (APIs)
- 9.3.4. Data integration and cognitive automation
- 9.3.5. Cognitive risk intelligence
- 9.3.6. Consulting and advisory
- 9.3.7. Training and support
- 9.3.8. Communication monitoring
- 9.3.9. Others
- 9.4. Market Analysis, Insights and Forecast – By End User
- 9.4.1. Banking, Financial Services, and Insurance
- 9.4.2. IT and Telecommunication
- 9.4.3. Retail
- 9.4.4. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. IBM
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Microsoft
- 10.6. Cisco Systems
- 10.7. Nuance Communications
- 10.8. BMC Software
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
