Cognitive Services Market Swot Analysis And Surge From 2020-2026 | Microsoft, IBM, AWS, Google, etc.

Global Cognitive Services Market

The investigative study on the Global Cognitive Services Market by Reports and Data offers insightful information about the market size and current and emerging trends and elements influencing the growth of the industry on a long term and short term duration. The report offers a panoramic view of the industry with a detailed analysis of the key outcomes and elements of the industry. The comprehensive data about the Cognitive Services market assists the business decision-makers to formulate fruitful business plans and investment strategies. Moreover, the report also provides key insights to the venture capitalists to make informed decisions about investments in companies.

The Global Cognitive Services market is forecast to reach USD 36.85 Billion by 2026, according to a new report by Reports and Data.

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The report analyzes several key factors that influence the growth of the market or restrain its growth. The report considers the COVID-19 pandemic as one such contributing factor. COVID-19 infection, which began in late 2019, has been declared as a public health emergency by the WHO. Not only has the pandemic affected human lives, it has also brought about drastic changes in market dynamics such as supply chain disruptions and economic difficulties. The report assesses the impact of the COVD-19 pandemic on the market and its key segments in detail. It also offers a comprehensive current and future impact assessment.

The Global Cognitive Services Market report is a sophisticated and intelligent report that offers valuable statistical data about services and products offered by the industry. The research report aims to cater to customer’s needs and provides an insight into strategies adopted by the companies to meet their goals. The research report gathers data about customer reach and marketing strategies of the key companies operating in the industry. Some of the key companies profiled in the report include Microsoft, IBM, AWS, Google, Nuance Communications, Baidu, SAS, Qualcomm Technologies, Nokia, TCS, and Apple. The Cognitive Services industry is also expanding, with several new players entering the market. Advanced technologies and products are being developed by companies. Companies are undertaking strategic initiatives such as mergers and acquisitions, partnerships, collaborations, agreements, product launches and brand promotions, and government deals, among others.

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The report also covers a thorough regional analysis of the industry to offer a comprehensive overview of the market share, market size, competitive landscape, production and consumption rate, export/import analysis, and supply and demand ratio. The regions analyzed in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Furthermore, the report segments the market into types and applications to offer a better understanding of the Cognitive Services market.

Service Type Outlook (Revenue, USD Billion; 2016-2026)
• Data Transformation
• Cloud and Web-Based Application Programming Interface
• Knowledge Management
• Cognitive Risk Intelligence
• Data Integration and Cognitive Automation
• Training and Support
• Communication Monitoring
• Consulting and Advisory
• Others

Technology Type Outlook (Revenue, USD Billion; 2016-2026)
• Natural Language Processing
• Machine Learning and Deep Learning

Organization size Type Outlook (Revenue, USD Billion; 2016-2026)
• Large Enterprises
• Small and Medium-Sized Enterprises

Deployment Mode Type Outlook (Revenue, USD Billion; 2016-2026)
• On-Premises
• Cloud

Application Type Outlook (Revenue, USD Billion; 2016-2026)
• Predictive Maintenance
• Marketing Analysis
• Quality Management Investigation and Recommendation
• Supply Chain Management
• Diagnosis and Treatment System
• Safety and Security Management
• Others

End-user Type Outlook (Revenue, USD Billion; 2016-2026)
• Healthcare
• Banking, Financial Services, and Insurance
• IT and Telecommunication
• Retail
• Manufacturing
• Education
• Government
• Others

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Further key findings from the report suggest

The cognitive services market held a market share of USD 2.55 Billion in the year 2018 and forecasted to grow at a rate of 39.7% during the forecast period.

In regards to Technology, the Natural Language Processing segment generated a higher revenue of USD 1.83 Billion in 2018, with a growth rate of 39.0% during the forecast period. The extensive application of the technology in the functioning of this service wherein it is required to perceive, read human languages and contribute in the communication with the computer, results in the revenue generated by the segment.

In context to Deployment Mode, the Cloud segment is projected to witness a faster CAGR of 41.3% during the forecast period, which is expected to occupy 70.0% of the market by 2026. The growth rate experienced by the cloud segment is resultant of various benefits associated with this deployment mode like affordability, vast storage capacity, and ability to access the service from any location, which is resulting in increasing preference for this deployment mode among the service provider. Furthermore, the increasing involvement of cloud giants like Microsoft, IBM, with this service, is also contributing to the growth rate experienced by this segment…Continued

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