openPR Logo
Press release

Cognitive Services Market Projected to reach $15.28 billion by 2023 | Key players include IBM, Microsoft, Google and AWS

12-03-2019 03:28 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets

Cognitive Services Market Projected to reach $15.28 billion

According to recent research "Cognitive Services Market by Technology, Service Type, Deployment Mode, Application, End-User, Vertical (BFSI, Healthcare, Retail, IT and Telecommunication, Government and Education, Manufacturing), and Region - Global Forecast to 2023", MarketsandMarkets expects the global cognitive services market to grow from USD 2.59 Billion in 2018 to USD 15.28 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 42.6% during the forecast period.

Cognitive services offer a systematic way to attain business objectives by reducing the efforts required to work on repetitive tasks. Also, various Application Programming Interfaces (APIs), including vision, speech, text, and search capabilities, play a crucial role in the process of automation and data analysis. The growing data is becoming crucial and organizations are majorly focusing on the integration of cognitive capabilities with their applications to analyze their data. Therefore, the need to align core work with business objectives and growth in data volumes are expected to drive the growth of the cognitive services market.

Browse 68 market data Tables and 42 Figures spread through 151 Pages and in-depth TOC on "Cognitive Services Market”
https://www.marketsandmarkets.com/Market-Reports/cognitive-services-market-155826417.html?utm_source=Openpr

The consulting and advisory service type is expected to grow at a higher CAGR during the forecast period

In the cognitive services market, consulting and advisory services are rapidly growing to leverage the benefits offered by the cognitive technology without deploying complete solution and infrastructure. As the small enterprises have budget constraints and are primarily focused on reducing infrastructure cost, they face challenges while deploying a complete cognitive solution. They also face similar issues while employing developers and cognitive technology experts to perform the data analysis. The consulting and advisory services can help these enterprises understand the best-fit cognitive service that can help them meet their requirements.

The cloud deployment type is expected to have the larger market size during the forecast period

On the basis of deployment type, the cognitive services market is segmented into cloud and on-premises. Cognitive services solutions deployed on the cloud are flexible and easily accessible for enterprises. Instead of installing the required software, the solution and its benefits can be leveraged remotely by enterprises on a pay-per-use model. Cognitive service providers are focusing on the development of robust cloud-based solutions for their users, as many organizations have started adopting the cloud model.

Ask for Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=155826417&utm_source=Openpr

APAC is expected to grow at the highest CAGR during the forecast period

In the Asia Pacific (APAC) region, global as well as domestic enterprises are investing in the enterprise Artificial Intelligence (AI) technology. The APAC region shows potential to grow in the cognitive services market. Enterprises in the APAC region are using cognitive services to generate insights from large volumes of data to enhance business processes. The growth in the APAC region is attributed to the growing investment in cognitive technologies across the region.

The cognitive services market report encompasses the competitive landscape and company profiles of the key vendors based on their product offerings and business strategies. The major cognitive service vendors include IBM (US), Microsoft (US), AWS (US), Google (US), TCS (India), Baidu (China), Apple (US), Nuance Communications (US), Qualcomm Technologies (US), and SAS Institute (US).

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com
MnM Blog: https://mnmblog.org/cognitive-services-market.html
Content Source: https://www.marketsandmarkets.com/PressReleases/cognitive-services.asp

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Cognitive Services Market Projected to reach $15.28 billion by 2023 | Key players include IBM, Microsoft, Google and AWS here

News-ID: 1875425 • Views: 1282

More Releases from MarketsandMarkets

Conductive Inks Market | Key players operating in the market include DowDuPont, …
According to recent market research "Conductive Inks Market by Type (Silver, Copper, Carbon/Graphene, Carbon Nanotube, Conductive Polymer), Application (Photovoltaics, Rfid, Pcb, Membrane Switches, Displays, Bio-Sensors, Thermal Heating), & Region - Global Forecast To 2025", The conductive inks market is projected to grow from USD 3.0 billion in 2020 to USD 3.7 billion by 2025, at a CAGR of 4.1% during the forecast period. The growth of the market can be
Special Mission Aircraft Market worth $18.3 billion by 2025
The report "Special Mission Aircraft Market by Platform (Military Aviation, Commercial Aviation, UAV), by Application (ISR, Command and Control, Combat Support, Air-Launch/Rocket Launch) by Payload, by End-User, by Point of Sale, and by Region - Forecast to 2025", size is projected to grow from USD 13.5 billion in 2020 to USD 18.3 billion by 2025, at a CAGR of 6.2% from 2020 to 2025. The market is driven by various
Cryocooler Market worth $3.1 billion by 2025
The report "Cryocooler Market with COVID-19 Impact and Analysis by Type (GM, PT, JT, Stirling, Brayton), Offering (Hardware, Services), Heat Exchanger (Recuperative, Regenerative) Operating Cycle (Open,Closed loop), Application, and Geography - Global Forecast to 2025", is expected to grow to USD 3.1 billion by 2025 from an estimated USD 2.3 billion in 2020, at a CAGR of 6% during 2020-2025 period. The rising adoption of cryocoolers in semiconductor industry, superconducting
Wireless Connectivity Market worth $141.1 billion by 2025
The report "Wireless Connectivity Market by Connectivity Technology (Wi-Fi, Bluetooth, NFC, ZigBee, GNSS, LTE CAT-M1, NB-IoT, LoRa, SigFox), Type (WLAN, WPAN, LPWAN), End-use (Wearables, Consumer Electronics, Healthcare), and Region - Global Forecast to 2025", size is estimated to grow from USD 69.0 billion in 2020 to USD 141.1 billion by 2025, at a CAGR of 15.4%. Major driving factors for the Wireless Connectivity industry are the increased demand for wireless

All 5 Releases


More Releases for Cognitive

Cognitive Computing: Applications and Global Markets
Cognitive computing like many IT terms is defined both by its technical capability and applications and by marketing statements. From a technical standpoint, cognitive computing is a system that uses machine learning algorithms to continually increase its knowledge from the data it receives. The learning aspect is characterized by the system continuously refining patterns in the data as well as the way data is processed. This learning allows cognitive computing
Cognitive Computing Market : Global Forecast over 2025
The competition in the global cognitive computing market is markedly low, despite a burgeoning number of small players and start-ups making a foray into this space, finds Transparency Market Research (TMR). This can be attributed primarily to a deluge of consumer demands and the presence of relatively less number of players with an established presence in the market. Prominent players are constantly developing smart applications and automated solutions for several
Global Cancer Cognitive Computing Market Outlook 2022
ReportsWorldwide has announced the addition of a new report title Global Cancer Cognitive Computing Market Outlook 2022 to its growing collection of premium market research reports. The emergence of Cognitive Computing for Cancer has revolutionized the healthcare industry. This technique is allowing a previously unattainable level of personalized treatment options with efficiency and simplicity. Due to this ability, it is anticipated that the Global Cancer Cognitive Computing market will cross US$
Cognitive Computing Market: Lucrative Opportunity by 2025
Data analysis can yield dramatic and yet highly dependable results. In recent times, almost every organization, big or small, is resorting to computation for certain kind in order to enhance their production efficiency, meet the demand coming from consumers, and counter the challenge posed by local and global competitors. Cognitive computing relates to next stage of data analysis wherein it not only crunches all the available data to make a
Global Cognitive Computing Market
In the ever changing world of information technology, business organizations are left with humongous amount of data with them. This data includes very critical information for business use, but business organizations are only able to utilize 20% of whole data available with them with the use of traditional data analytics technology. To process and interpret the reaming 80% of the data that is in the form of videos, images, and
Cognitive Nutrition Ingredients: Global Market Intelligence
ReportsWorldwide has announced the addition of a new report title Cognitive Nutrition Ingredients: Global Market Intelligence to its growing collection of premium market research reports. The report “Cognitive Nutrition Ingredients: Global Market Intelligence (2011-2020)” provides market intelligence on the different market segments, based on type, application, and geography. Market size and forecast (2011-2020) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence