Cognitive Media Market Forecast: 7 Impacting Factors That Can Win the Industry Globally
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Growth in adoption of advanced technologies such as deep learning, machine learning, and others in the media & entertainment industry majorly drives growth of the cognitive media market. Moreover, major shift toward digital transformation to analyze data with the help of social media and social viewing plays a crucial role in influencing customer’s decision. This further generates the need for adoption of cognitive technology in the media & entertainment industry. However, high initial investments along with lack of expertise are some of the major challenges, which restrain growth of the market. Furthermore, factors such as rise in adoption of cloud and growth in need for automation in the media & entertainment industry are some of the lucrative opportunities in this market.
Growth in need for automation in the media & entertainment industry:
Cognitive media helps to reduce manual work, which consumes a lot of time and is expensive at the same time. In addition, it also enhances audience measurement, customer insight, content management, advertise intelligence, customer recommendations, digital storage, and other functions, hence indirectly increases the efficiency and improves accuracy of the workflow. Thus, growth in need for automation in the media & entertainment industry is expected to lead to the adoption of cognitive media among end users.
Lack of expertise in cognitive market:
Lack of expertise in the cognitive media market is expected to hinder growth of the market as machine language, deep learning, and natural language processing are still one of those sectors in which human expertise are far behind than expected. In addition, there is a limited number of professionals currently working on the AI market. Moreover, media and entertainment companies are currently investing in the artificial intelligence (AI) technology mainly to understand their audience preferences and deliver content according to their preference, which further generates high need for technical expertise. Hence, unavailability of skilled professional along with security issues while handling large amount of unstructured data hinders growth of the market.
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Key benefits of the report:
This study presents analytical depiction of the global cognitive media market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the cognitive media market share.
The current market is quantitatively analyzed from 2019 to 2027 to highlight the cognitive media market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides detailed cognitive media market analysis based on competitive intensity and how the competition will take shape in coming years.
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