Cognitive Service Market: Summary
The global cognitive service market is estimated to reach USD 18.2 Billion in 2024 at a CAGR of 42.2%. Rising demand for new generation robots, advancing automated fraud detection systems, increasing growth in large-scale tasks, and rising performance & profit orientation is expected to drive the market. However, slow market adoption act as one of the restraining factor for the market growth. Advancement of Artificial Intelligence (AI) and application programming interface (API) is identified as an opportunity for this market.
Cognitive Service is a type of machine learning technology which is used in the field of Artificial Intelligence (AI). It creates applications which support algorithms, website, bots to (see, hear, speak) understand. Some key players of the market are IBM Corporation, Amazon Web Services, Inc., Ripple, Microsoft Corporation, Apple Inc., Inc., Nuance Communications, Inc., QUALCOMM, Inc., SAS Institute Inc., Nokia Corporation and Verbio Technologies, S.L. among other.
Cognitive Service Market: Report Synopsis
This market research report offers a comprehensive analysis of key market trends in the global market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of service, the market is segmented into knowledge management, data revolution, training, communication, cloud service and others. By technology, the global market is segmented machine learning, natural language processing, optimization and robotics. By application type, the market is segmented into government and education, healthcare, banking, financial services and insurance (BFSI), manufacturing, and others.
Cognitive Service Market: Report Scope
The report on this market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2019-2024 (2019 estimated year, forecasted up to 2024)
Value (USD Million)
Service, Technology, Application
Asia-Pacific, North America, Europe, Middle East & Africa, South America
- IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Microsoft Corporation
- Apple Inc.
- Amazon Web Services, Inc.
- Nuance Communications, Inc.
- QUALCOMM, Inc.
- SAS Institute Inc.,
- Nokia Corporation
- Verbio Technologies, S.L.
- Other Key Companies
Cognitive Service Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Cognitive Service Market, by Service
- Knowledge Management
- Data Revolution
- Cloud Service
Cognitive Service Market, by Technology
- Machine Learning
- Natural Language Processing
Cognitive Service Market, by Application
- Government and Education
- Banking, financial services and insurance (BFSI)
Cognitive Service Market, by Region
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
- Cognitive Service Market Providers
- Cognitive Service Market Solution and Services Suppliers, Distributors, and Dealers
- End-Users of Varied Segments of Cognitive Service Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE COGNITIVE SERVICE MARKET STUDY
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1. Rising Demand of New Generation of Robots
4.2.2. Advancement Automated Fraud Detection Systems
4.2.3. Increasing Grow in Large-Scale Tasks
4.2.4. Rising in Performance & Profit Orientation
4.3.1. Slow Adoption Process
4.4.1. Advancement of Artificial Intelligence (AI) and High Adoption of Application Programming Interface (API)
4.5.1 Cloud Data Tracking Process
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 COGNITIVE SERVICE MARKET BY SERVICE, Market Size in USD Million (2017—2024)
6.2 Knowledge Management
6.3 Data Revolution
6.6 Cloud Service
7 COGNITIVE SERVICE MARKET BY TECHNOLOGY, Market Size in USD Million (2017—2024)
7.2 Machine Learning
7.3 Natural Language Processing
8 COGNITIVE SERVICE MARKET BY APPLICATION, Market Size in USD Million (2017—2024)
8.2 Government and Education
8.4 Banking, financial services and insurance (BFSI)
9 COGNITIVE SERVICE MARKET BY REGION, Market Size in USD Million (2017—2024)
9.1 North America
8.2.6. The Netherlands
8.2.7. Rest of Europe
8.3.4. South Korea
8.3.6. Rest of Asia-Pacific
9.4 Middle East & Africa
8.4.1. Saudi Arabia
8.4.3. Rest of Middle East
9.5 South America
8.5.3. Rest of South America
10 COMPETITIVE LANDSCAPE
10.2 Market Ranking/Share Analysis of Key Companies
10.3 Company Benchmarking
11 COMPANY PROFILES
11.1 IBM Corporation
11.1.1 Company Overview
11.1.2 Financial Overview
11.1.3 Products/Solutions/Services Offered
11.1.4 Key Developments
11.1.5 SWOT Analysis
11.2 Microsoft Corporation
11.3 Apple Inc.
11.4 Amazon Web Services, Inc.
11.5 Nuance Communications, Inc.
11.6 QUALCOMM, Inc.
11.7 SAS Institute Inc.,
11.8 Nokia Corporation
11.9 Verbio Technologies, S.L.
11.10 Other Key Companies
12.1 Key Industry Expert Insights
12.2 Primary Discussion Guide
12.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY