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Market Snapshot

CAGR:7.16

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.16

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Report Overview

The Cognitive Services Market is set for substantial growth, projected to achieve a Compound Annual Growth Rate (CAGR) of 22.91% between 2022 and 2032. The market size is anticipated to expand by USD 8,901.23 million during this period. Cognitive services, powered by artificial intelligence (AI) and machine learning (ML), are transforming industries by providing advanced data analysis and decision-making capabilities.

Cognitive Services Market Overview:

Drivers:

The increasing demand for data-driven insights and personalized experiences is a significant driver of the cognitive services market. Cognitive services enable organizations to extract valuable insights from large datasets, facilitating informed decision-making and enhancing customer experiences.

Moreover, the adoption of AI and ML technologies is accelerating market growth. Cognitive services offer pre-built AI models and tools that simplify the integration of AI capabilities into applications, products, and services.

Trends:

The integration of natural language processing (NLP) and image recognition in cognitive services is a prominent trend shaping the market. NLP enables machines to understand and generate human language, facilitating applications like chatbots, sentiment analysis, and language translation.

Additionally, the rise of edge AI is influencing cognitive services. Edge AI brings AI capabilities to the edge of networks and devices, enabling real-time data analysis and decision-making without relying on cloud-based processing.

Restraints:

Challenges related to data privacy and ethical considerations are restraining the cognitive services market growth. Cognitive services rely on data analysis, raising concerns about data privacy, security, and potential bias in AI algorithms.

Furthermore, the complexity of integrating cognitive services into existing applications and systems can be a barrier for some organizations. Effective integration requires expertise in AI technologies and a clear understanding of how cognitive services can enhance existing processes.

Cognitive Services Market Segmentation by Service Type: The "Language Services" segment is expected to witness significant growth within the cognitive services market. Language services encompass NLP capabilities, including text analysis, sentiment analysis, and language translation.

Cognitive Services Market Segmentation by Vertical: The "Retail and E-Commerce" sector is anticipated to experience substantial growth. Cognitive services enable personalized recommendations, demand forecasting, and customer behavior analysis, enhancing the retail and e-commerce customer experience.

Regional Overview:

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North America is projected to contribute significantly to the global cognitive services market, accounting for 42% of the market's growth during the forecast period. The region's advanced technology ecosystem, data-intensive industries, and adoption of AI solutions drive its leadership in the market.

The COVID-19 pandemic has underscored the importance of data analysis and automation, accelerating the adoption of cognitive services for improving business processes and customer interactions.

Cognitive Services Market Customer Landscape: The report covers the customer adoption lifecycle, analyzing the factors influencing the adoption of cognitive services, from early adopters to more risk-averse users. It includes regional adoption trends and price sensitivity drivers, aiding companies in refining their growth strategies.

Major Cognitive Services Market Companies: Companies within the cognitive services market are employing various strategies, including partnerships, acquisitions, industry-specific solutions, and compliance with data protection regulations, to strengthen their market presence.

Microsoft Corporation: Microsoft offers Azure Cognitive Services, providing a wide range of AI-powered capabilities, including vision, speech, language, and decision-making services.
IBM Corporation: IBM provides Watson AI-powered cognitive services, enabling organizations to analyze data, extract insights, and make informed decisions.

The competitive landscape analysis includes insights into 10 key market players, including:

Google LLC
Amazon Web Services, Inc.
Salesforce.com, Inc.
Oracle Corporation
SAS Institute Inc.
Intel Corporation
CognitiveScale Inc.
Nuance Communications, Inc.
SAP SE

Segment Overview:

The cognitive services market report forecasts revenue growth globally, regionally, and at the country level, providing analyses of trends and growth opportunities from 2019 to 2032.

Service Type Outlook (USD Million, 2019 - 2032)

Vision Services
Language Services
Speech Services
Decision Services

Vertical Outlook (USD Million, 2019 - 2032)

Healthcare and Life Sciences
BFSI
Retail and E-Commerce
IT and Telecommunications
Others

Geography Outlook (USD Million, 2019 - 2032)

North America

The U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
India

South America

Brazil
Argentina
Chile

Middle East & Africa

Saudi Arabia
South Africa
Rest of the Middle East & Africa

TABLE OF CONTENTS: GLOBAL Cognitive Services MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Cognitive Services MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Cognitive Services Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Cognitive Services MARKET BY deployment landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Cloud

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 On-premise

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Cognitive Services MARKET BY Organisation size INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Small and Medium Enterprise

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Large Enterprise

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Cognitive Services MARKET REGIONAL OUTLOOK

7.1. Cognitive Services Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Cognitive Services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Cognitive Services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Cognitive Services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Cognitive Services Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Cognitive Services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Microsoft Corporation

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Amazon Web Services

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Attivio, Inc

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 SAS Institute

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Google LLC

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Cognitive Services Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032