Stay Ahead in Fast-Growing Economies.
Browse Reports Now
Cognitive Services Market Size, Share, Growth & Forecast (2024-2032)
Cognitive Services Market Size Was Valued at USD 14.80 Billion in 2023, and is Projected to Reach USD 349.63 Billion by 2032, Growing at a CAGR of 42.1% From 2024-2032.
IMR Group
Description
Cognitive Services Market Synopsis:
Cognitive Services Market Size Was Valued at USD 14.80 Billion in 2023, and is Projected to Reach USD 349.63 Billion by 2032, Growing at a CAGR of 42.1% From 2024-2032.
The Cognitive Services Market can be said to refer to a network of intelligent services and applications that are based on the use of artificial intelligence to make machines understand human inputs such as voice, sight, language, and choice making. These services revolve around established machine learning, deep learning, and helpful natural language processing which empower intercession and make it more human-oriented, enabling businesses to craft intelligent application types. Cognitive services are adopted across many business verticals such as healthcare, retail, BFSI, information technology and telecom, and manufacturing for efficient functioning, better customer satisfaction, and new solutions. These services include speech recognition, sentiment analysis, computer vision and among others; hence they stand out as an important tool in the age of digital innovations.
The Market for Cognitive Services is growing fast, due to the integration of AI in various fields with the help of cognitive services market offerings. With organizations pushing for better resource efficiency for business processes as well as better decision making, cognitive services have risen to the task. These services give organizations the capacity for carrying out pattern and contextual analysis on huge amounts of unstructured data and for improving customer interactions through intelligent and customised approaches. One more factor is that constant growth of various cloud-based platforms and APIs contributes to the market expansion of cognitive services even for small and middle-sized companies.
Furthermore, tremendous growth rate is clearly driven by need for more accurate and instant translation, better image and voice recognition and higher natural language comprehension. As many businesses are turning to automation and focusing on clients, the incorporation of cognitive services into currently utilized IT structures is critical. The continuous integration of such technologies in the health sector for diagnosis, commercial sector for consumer profiling, and the financial sector for investigating fraudulent activities illustrates the potential of these technologies in the vertical transformation. The market is then expected to grow from such partnerships between technology corporations and enterprises in finding new opportunities for growth and expand adoption.
Cognitive Services Market Trend Analysis:
AI-Powered Hyper-Personalization
One of the trends affecting the Cognitive Services Market is the trend of using AI for hyper-personalization. Cognitive services are being adopted by organisations to enable superior and personalised experience of customers based on their likes, past actions and engagements. Such trend is remarkably observed in the sell-er establishments such as retail stores and online platforms in which complex artificial intelligence systems scrutinize purchasing behaviors and suggest products. Same way in customer service, with the help of cognitive services, chatbots offer personalized reply to customers to ensure their satisfaction. Since personalization is slowly becoming a competitive advantage, cognitive services will further help in creating unique and positive user experiences.
Expanding Use in Healthcare
The Cognitive Services Market is ripe for growth in the healthcare sector. Cognitive services are transforming diagnostics, therapeutic care, and drug development. Smart technologies include diagnosis of diseases, like cancer through images and data analytics. Also, NLP helps to analyze patient records and medical literature in order to decrease the time for clinical decision making. The use of cognitive services is estimated to rise in the near future as healthcare systems across the globe integrate digital services; this will be a major opportunity for the growth of the market.
Cognitive Services Market Segment Analysis:
Cognitive Services Market is Segmented on the basis of Service, Application, End User, and Region.
By Service, Professional segment is expected to dominate the market during the forecast period
The business and professional services segment is expected to achieve the largest market share of the Cognitive Services Market throughout the said period. Such services include the consulting, integration, and support service that are necessary for the right deployment of cognitive technologies. Both product and service industries depend on cognitive professional services to tailor and deploy cognitive solutions while integrating them into an existing system.
The reasons are, firstly, the specifics of AI implementation for growing businesses which require separate competencies in such segments as algorithms, data integration, and security compliance, etc. Companies are engaging third party service providers to get a pulse of the optimal methods of implementing these cognitive solutions and achieving corporate goals. While considering the continuous rise in the demand for customized and sector-specific software products, professional services will continue to lead hence in the market.
By Application, Safety & Security Management segment expected to held the largest share
The cognitive services market is analyzed to be segregated by the different applications used in safety and security management, which is likely to capture the largest market share. This segment is growing due to a growing demand for better security systems or security solutions in the presence of ever looming cyber threats. Cognitive services help organizations in determination of risk, assessment of risk and precaution against such risks with its features such as machine learning and analytical.
Administrations and companies are using these technologies to improve security, detect abnormalities and prevent security breaks. For example, cognitive services in video analytics assist in identifying potential threats in crowded systems, in cybersecurity, AI threat detection methods help to be protective. Since safety and security issues are considered critically important, the use of cognitive services in this area is predicted to increase gradually.
Cognitive Services Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
North America has the largest share of the global market size in 2023. The leadership of the region could be attributed to the early adaptativeness to the essential and developed Artificial Intelligence Technologies, and the existence of significant market players such as Microsoft, IBM, Google and others. Strong research and development activities in this sector along with extensive implementations across organizations in sectors like BFSI, healthcare, and retail have placed North America in this market’s vanguard. Also, the increased spending on AI development by officials and the increased focus on the cybersecurity segment drive the market in this region.
Active Key Players in the Cognitive Services Market
Amazon Web Services (USA)
Baidu, Inc. (China)
Cisco Systems, Inc. (USA)
Google LLC (USA)
IBM Corporation (USA)
Infosys Limited (India)
Intel Corporation (USA)
Microsoft Corporation (USA)
Nuance Communications, Inc. (USA)
Oracle Corporation (USA)
Qualcomm Technologies, Inc. (USA)
Salesforce, Inc. (USA)
SAP SE (Germany)
Tata Consultancy Services (India)
Tencent Holdings Ltd. (China)
Other Active Players.
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter’s Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Cognitive Services Market by Service
4.1 Cognitive Services Market Snapshot and Growth Engine
4.2 Cognitive Services Market Overview
4.3 Professional
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Professional: Geographic Segmentation Analysis
4.4 Managed
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Managed: Geographic Segmentation Analysis
Chapter 5: Cognitive Services Market by Application
5.1 Cognitive Services Market Snapshot and Growth Engine
5.2 Cognitive Services Market Overview
5.3 Safety & Security Management
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Safety & Security Management: Geographic Segmentation Analysis
5.4 Supply Chain Management
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Supply Chain Management: Geographic Segmentation Analysis
5.5 Treatment System
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Treatment System: Geographic Segmentation Analysis
5.6 Quality Management
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Quality Management: Geographic Segmentation Analysis
5.7 Predictive Maintenance
5.7.1 Introduction and Market Overview
5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.7.3 Key Market Trends, Growth Factors and Opportunities
5.7.4 Predictive Maintenance: Geographic Segmentation Analysis
5.8 Others
5.8.1 Introduction and Market Overview
5.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.8.3 Key Market Trends, Growth Factors and Opportunities
5.8.4 Others: Geographic Segmentation Analysis
Chapter 6: Cognitive Services Market by End User
6.1 Cognitive Services Market Snapshot and Growth Engine
6.2 Cognitive Services Market Overview
6.3 Healthcare
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Healthcare: Geographic Segmentation Analysis
6.4 BFSI
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 BFSI: Geographic Segmentation Analysis
6.5 Retail
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Retail: Geographic Segmentation Analysis
6.6 Manufacturing
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Manufacturing: Geographic Segmentation Analysis
6.7 Public Sector
6.7.1 Introduction and Market Overview
6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.7.3 Key Market Trends, Growth Factors and Opportunities
6.7.4 Public Sector: Geographic Segmentation Analysis
6.8 Education
6.8.1 Introduction and Market Overview
6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.8.3 Key Market Trends, Growth Factors and Opportunities
6.8.4 Education: Geographic Segmentation Analysis
6.9 IT & Telecommunication
6.9.1 Introduction and Market Overview
6.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.9.3 Key Market Trends, Growth Factors and Opportunities
6.9.4 IT & Telecommunication: Geographic Segmentation Analysis
6.10 Others
6.10.1 Introduction and Market Overview
6.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.10.3 Key Market Trends, Growth Factors and Opportunities
6.10.4 Others: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Cognitive Services Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 AMAZON WEB SERVICES (USA)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 BAIDU INC. (CHINA)
7.4 CISCO SYSTEMS INC. (USA)
7.5 GOOGLE LLC (USA)
7.6 IBM CORPORATION (USA)
7.7 INFOSYS LIMITED (INDIA)
7.8 INTEL CORPORATION (USA)
7.9 MICROSOFT CORPORATION (USA)
7.10 NUANCE COMMUNICATIONS INC. (USA)
7.11 ORACLE CORPORATION (USA)
7.12 QUALCOMM TECHNOLOGIES INC. (USA)
7.13 SALESFORCE INC. (USA)
7.14 SAP SE (GERMANY)
7.15 TATA CONSULTANCY SERVICES (INDIA)
7.16 TENCENT HOLDINGS LTD. (CHINA)
7.17 OTHER ACTIVE PLAYERS
Chapter 8: Global Cognitive Services Market By Region
8.1 Overview
8.2. North America Cognitive Services Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Service
8.2.4.1 Professional
8.2.4.2 Managed
8.2.5 Historic and Forecasted Market Size By Application
8.2.5.1 Safety & Security Management
8.2.5.2 Supply Chain Management
8.2.5.3 Treatment System
8.2.5.4 Quality Management
8.2.5.5 Predictive Maintenance
8.2.5.6 Others
8.2.6 Historic and Forecasted Market Size By End User
8.2.6.1 Healthcare
8.2.6.2 BFSI
8.2.6.3 Retail
8.2.6.4 Manufacturing
8.2.6.5 Public Sector
8.2.6.6 Education
8.2.6.7 IT & Telecommunication
8.2.6.8 Others
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Cognitive Services Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Service
8.3.4.1 Professional
8.3.4.2 Managed
8.3.5 Historic and Forecasted Market Size By Application
8.3.5.1 Safety & Security Management
8.3.5.2 Supply Chain Management
8.3.5.3 Treatment System
8.3.5.4 Quality Management
8.3.5.5 Predictive Maintenance
8.3.5.6 Others
8.3.6 Historic and Forecasted Market Size By End User
8.3.6.1 Healthcare
8.3.6.2 BFSI
8.3.6.3 Retail
8.3.6.4 Manufacturing
8.3.6.5 Public Sector
8.3.6.6 Education
8.3.6.7 IT & Telecommunication
8.3.6.8 Others
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Cognitive Services Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Service
8.4.4.1 Professional
8.4.4.2 Managed
8.4.5 Historic and Forecasted Market Size By Application
8.4.5.1 Safety & Security Management
8.4.5.2 Supply Chain Management
8.4.5.3 Treatment System
8.4.5.4 Quality Management
8.4.5.5 Predictive Maintenance
8.4.5.6 Others
8.4.6 Historic and Forecasted Market Size By End User
8.4.6.1 Healthcare
8.4.6.2 BFSI
8.4.6.3 Retail
8.4.6.4 Manufacturing
8.4.6.5 Public Sector
8.4.6.6 Education
8.4.6.7 IT & Telecommunication
8.4.6.8 Others
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Cognitive Services Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Service
8.5.4.1 Professional
8.5.4.2 Managed
8.5.5 Historic and Forecasted Market Size By Application
8.5.5.1 Safety & Security Management
8.5.5.2 Supply Chain Management
8.5.5.3 Treatment System
8.5.5.4 Quality Management
8.5.5.5 Predictive Maintenance
8.5.5.6 Others
8.5.6 Historic and Forecasted Market Size By End User
8.5.6.1 Healthcare
8.5.6.2 BFSI
8.5.6.3 Retail
8.5.6.4 Manufacturing
8.5.6.5 Public Sector
8.5.6.6 Education
8.5.6.7 IT & Telecommunication
8.5.6.8 Others
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Cognitive Services Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Service
8.6.4.1 Professional
8.6.4.2 Managed
8.6.5 Historic and Forecasted Market Size By Application
8.6.5.1 Safety & Security Management
8.6.5.2 Supply Chain Management
8.6.5.3 Treatment System
8.6.5.4 Quality Management
8.6.5.5 Predictive Maintenance
8.6.5.6 Others
8.6.6 Historic and Forecasted Market Size By End User
8.6.6.1 Healthcare
8.6.6.2 BFSI
8.6.6.3 Retail
8.6.6.4 Manufacturing
8.6.6.5 Public Sector
8.6.6.6 Education
8.6.6.7 IT & Telecommunication
8.6.6.8 Others
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Cognitive Services Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Service
8.7.4.1 Professional
8.7.4.2 Managed
8.7.5 Historic and Forecasted Market Size By Application
8.7.5.1 Safety & Security Management
8.7.5.2 Supply Chain Management
8.7.5.3 Treatment System
8.7.5.4 Quality Management
8.7.5.5 Predictive Maintenance
8.7.5.6 Others
8.7.6 Historic and Forecasted Market Size By End User
8.7.6.1 Healthcare
8.7.6.2 BFSI
8.7.6.3 Retail
8.7.6.4 Manufacturing
8.7.6.5 Public Sector
8.7.6.6 Education
8.7.6.7 IT & Telecommunication
8.7.6.8 Others
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
Q1: What would be the forecast period in the Cognitive Services Market research report?
A1: The forecast period in the Cognitive Services Market research report is 2024-2032.
Q2: Who are the key players in the Cognitive Services Market?
A2: Amazon Web Services (USA), Baidu, Inc. (China), Cisco Systems, Inc. (USA), Google LLC (USA), IBM Corporation (USA), Infosys Limited (India) and Other Active Players.
Q3: What are the segments of the Cognitive Services Market?
A3: The Cognitive Services Market is segmented into Service, Application, End User and region. By Service, the market is categorized into Professional, Managed. By Application, the market is categorized into Safety & Security Management, Supply Chain Management, Treatment System, Quality Management, Predictive Maintenance, Others. By End User, the market is categorized into Healthcare, BFSI, Retail, Manufacturing, Public Sector, Education, IT & Telecommunication, Others. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Russia, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Q4: What is the Cognitive Services Market?
A4: The Cognitive Services Market can be said to refer to a network of intelligent services and applications that are based on the use of artificial intelligence to make machines understand human inputs such as voice, sight, language, and choice making. These services revolve around established machine learning, deep learning, and helpful natural language processing which empower intercession and make it more human-oriented, enabling businesses to craft intelligent application types. Cognitive services are adopted across many business verticals such as healthcare, retail, BFSI, information technology and telecom, and manufacturing for efficient functioning, better customer satisfaction, and new solutions. These services include speech recognition, sentiment analysis, computer vision and among others; hence they stand out as an important tool in the age of digital innovations.
Q5: How big is the Cognitive Services Market?
A5: Cognitive Services Market Size Was Valued at USD 14.80 Billion in 2023, and is Projected to Reach USD 349.63 Billion by 2032, Growing at a CAGR of 42.1% From 2024-2032.
How to Buy a Report from eminsights.jp
On the product page, choose the license you want: Single-User License, Multi-User License or Enterprise License.
If you required report in your native language, then you can click on Translated Report button and fill out the form with report name and language you want, then our team will contact you as soon as possible.
Click the Buy Now button.
You will be redirected to the checkout page. Enter your company details and payment information.
Click Place Order to complete the purchase.
Confirmation: You’ll receive an order confirmation and our team will contact you shortly with your ordered report.
If you have any questions, fill out the contact form below or email us at bizdev@eminsights.net.
Thank you for choosing eminsights.jp!
