“The global cognitive media market to grow at a CAGR of 27.2% during the forecast period”
MarketsandMarkets forecasts the global cognitive media market size to grow from USD 551.4 million in 2018 to USD 1,839.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 27.2% during the forecast period. Major growth drivers of the cognitive media market include an increasing adoption of the cognitive computing technology for various applications in the media industry and the automation of workflows. The lack of regulatory standardization and AI skilled experts, however, could affect the adoption of the AI technology in the emerging economies, which, in turn, may restrain the market growth.
“Predictive analysis segment to grow at the highest CAGR during the forecast period”
In the cognitive media market by application, there are segments such as, content management, network optimization, personalization and recommendation, predictive analysis, security management, and others. The predictive analysis application segment will grow at the highest CAGR, as it offers optimized media scheduling, better targeted advertising, and effective content recommendations to media enterprises.
“APAC to grow at the highest CAGR during the forecast period”
Among regions, APAC is expected to grow at the highest CAGR in the global cognitive media market during the forecast period. Media and entertainment enterprises’ increasing investments in APAC to improve efficiency and minimize cost of operations, and an increasing demand for cognitive tools and solutions will drive the adoption of cognitive computing technology in the APAC media market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the Cognitive media market.
- By Company Type: Tier I: 34%, Tier II: 40%, and Tier III: 26%
- By Designation: C-Level: 24%, Director Level: 36%, and Others: 40%
- By Region: North America: 34%, EMEA: 24%, and APAC: 42%
The report includes the study of the key players offering cognitive solutions for media enterprises. It profiles major vendors in the global cognitive market, such as Microsoft (US), Google (US), AWS (US), Adobe (US), IBM (US), nVIDIA (US), Salesforce (US), Baidu(China), Crimson Hexagon (US), Veritone (US), Bytedance (China), Acrolinx (Germany), Zeta Global (US), Kitewheel (US), Clarifai (US), Axle.ai (US), Albert (US), Kenshoo (Israel), Spotad (Israel), Valossa (Finland), Emarsys (Austria), Soundhound Inc. (US), Video Intelligence (Switzerland), MiQ (UK), Phrasee (UK), NewsRx (US), and TrendKite (US). The report includes an in-depth competitive analysis of these key cognitive media market players, along with their company profiles that include business overviews, product offerings, recent developments, and market strategies.
The report segments the global cognitive media market by technology, application, component, enterprise size, deployment mode, and region. The technology segment of the cognitive media market includes deep learning and machine learning, and natural language processing. The application segment includes content management, network optimization, recommendations and personalization, customer retention, predictive analysis, security management and other applications. The component segment includes solution and services. The cognitive media market by enterprise size has Small and Medium-sized Enterprises (SMEs) and large enterprises segments. The market by deployment mode has the cloud and on-premises categories. The report covers the cognitive media market in 5 major regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
The report would help the market leaders and new entrants in the global cognitive media market in the following ways:
- The report segments the market into various subsegments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across various applications and regions.
- The report helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
- The report helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market.
- The study also presents the positioning of the key players based on their product offerings and business strategies.