Press release
Cognitive Media Market Research Report 2024-2033: Size, Forecast, and Insights
Cognitive Media Market Research
Cognitive Media Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $5.55 billion In 2028 At A CAGR Of 26.2% :
The cognitive media market size has grown exponentially in recent years. It will grow from $1.73 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 26.1%. The growth in the historic period can be attributed to increased complexity in media ecosystems, demand for personalized user experiences, content monetization strategies, integration of natural language processing (nlp), addressing information overload.
The cognitive media market size is expected to see exponential growth in the next few years. It will grow to $5.55 billion in 2028 at a compound annual growth rate (CAGR) of 26.2%. The growth in the forecast period can be attributed to augmented and virtual reality (ar/vr) integration, blockchain for content verification, evolving advertising models, cross-platform content delivery. Major trends in the forecast period include personalized content experiences, emotion and sentiment analysis, automated content creation, interactive and immersive experiences, real-time content adaptation.
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Cognitive Media Market Major Segments
The cognitive media market covered in this report is segmented -
1) By Component: Services, Solution
2) By Technology: Natural Language Processing, Deep Learning and Machine Learning
3) By Deployment: On-Premises, Cloud
4) By Application: Predictive Analysis, Security Management, Content Management, Network Optimization, Recommendation and Personalization, Customer Retention, Other Application
5) By End User: Banking Sector, Retail Sector, Healthcare Sector, Other End User
Key Driver - Internet User Surge Fuels Cognitive Media Market Growth Despite Cognitive Concerns
The rising number of internet users is expected to propel the growth of the cognitive media market going forward. The Internet users are increasing rapidly because of the rapid growth of digital services and the increasing reliance on technology for various aspects of daily life has made Internet access essential for many people. The exponential growth of internet users has irrevocably altered the landscape of media consumption, giving rise to the concept of cognitive media used to actively engage the audience's cognitive abilities. For instance, according to the International Telecommunication Union, a Switzerland-based specialized agency of the United Nations, as of 2022, the estimated number of internet users was 5.3 billion, representing 66% of the world's population. This marked a growth rate of 6.1% over 2021, up from 5.1% for the previous year. Therefore, the rising number of Internet users is driving the growth of the cognitive media market.
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Prominent Trend - Juji Inc.'s Launch Of Generative AI Tool For Streamlined Chatbot Creation
Technological development is a key trend gaining popularity in the cognitive media market. Major companies operating in the cognitive media market are focusing on technological developments to sustain their position in the market. For instance, in March 2023, Juji Inc., a US-based artificial intelligence company engaged in the development of chatbot, empathetic AI solutions, launched a new generative AI tool for automating cognitive AI chatbot creation that allows any organization to rapidly develop customized AI chatbots without using new IT resources or writing any code. These cognitively intelligent AI chatbots can scale human teams to manage and automate high-touch, high-stakes interactions by utilizing superior human interpersonal abilities like active listening and comprehending body language.
Cognitive Media Market Players
Major companies operating in the cognitive media market report are International Business Machines Corporation, Google LLC, Amazon Web Services Inc., Microsoft Corporation, Salesforce.com Inc., Adobe Inc., Baidu Inc., Nvidia Corporation, Veritone Inc., Albert Inc., Crimson Hexagon, Valossa Labs Oy, SoundHound AI Inc., Newsrx, ByteDance Ltd., Kenshoo Inc., Zeta Global Holdings Corp., Kitewheel LLC, Clarifai Inc., Spotad Ltd., Accentur*e plc, Alteryx, Cisco Systems Inc., Cornerstone OnDemand Inc., Brandwatch, Video Intelligence AG, OpenText, SAS Institute Inc., Hewlett Packard Enterprise Company LP, Pegasystems Inc., BMC Software Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the cognitive media market in 2023. The regions covered in the cognitive media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cognitive Media Market Report Structure
3. Cognitive Media Market Trends And Strategies
4. Cognitive Media Market - Macro Economic Scenario
5. Cognitive Media Market Size And Growth
…..
27. Cognitive Media Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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