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[ 英語タイトル ] 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


Product Code : MNMICT00109905
Survey : MarketsandMarkets
Publish On : February, 2021
Category : ICT and Telecom
Study Area : Global
Report format : PDF
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[Report Description]

The cognitive services market is projected to grow at a CAGR of 42.6 % during the forecast period
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. The growing use of cognitive services across various industries and increasing demand for intelligent APIs to build smarter applications is expected provide the opportunities for the cognitive services market. However, stringent external regulations across regions restrict end-user verticals from sharing customers’ data with cognitive service providers, which may hinder the growth of the cognitive services market.
The marketing analysis application is expected to have the largest market size during the forecast period
The use of cognitive services across various applications such as sales and marketing, campaign management, customer segmentation, and investment prediction is becoming crucial. Cognitive services in these application areas generate quality results. Also, cognitive services are helpful in analyzing customer behavior and purchase pattern to formulate growth strategies and enhance customer experience. Therefore, data analysis becomes critical to generate marketing leads and reach out to the prospective clients. Here, cognitive services are expected to play an important role in marketing analysis applications.
The BFSI vertical is expected to have the largest market size during the forecast period
Banking, Financial Services, and Insurance (BFSI) is a data-driven industry that constantly focuses on enhancing customer experience. The adoption of cognitive services can help the BFSI vertical analyze large volumes of transaction data, customer profiles, and other such data, to formulate customer engagement strategies. Along with that, cognitive services can help the BFSI vertical solve challenges related to risk and fraud management, credit decisioning, customer engagement, and many more. Therefore, the use of cognitive services is expected to grow in the BFSI vertical to leverage the benefits offered by the services and enhance overall operational efficiency.
North America is expected to have the largest market size in the cognitive services market during the forecast period
Among regions, North America is expected to have the largest market size in the cognitive services market during the forecast period. The North American region has shown growing investment in cognitive technologies and the major initiatives taken for the growth of the cognitive services have their origin in this region. Therefore, potential growth is expected in the region during the forecast period. The Small and Medium-sized Enterprise (SMEs) and large organizations in the region have started taking advantage of cognitive services to make business processes more intelligent, solve various business challenges, and enhance decision making.. .

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the cognitive services market.
 By Company Type: Tier 1: 24%, Tier 2: 40%, and Tier 3: 36%
 By Designation: C-Level Executives: 28%, Directors: 34%, and Others: 38%
 By Region: North America: 38%, Europe: 32%, and APAC: 30%
The report includes the study of the key players offering cognitive services and Platforms-as-a-Service (PaaS). 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). The report includes an in-depth competitive analysis of these key cognitive services market players, along with their company profiles, which include business overviews, product offerings, recent developments, and market strategies.
Research Coverage
The cognitive services market has been segmented by technology, service type, deployment mode, application, end-user, vertical, and region. The technology segment is further segmented into machine learning and deep learning, and natural language processing. The service type segment includes knowledge management, data transformation, cloud and web-based application programming interface, data integration and cognitive automation, cognitive risk intelligence, consulting and advisory, training and support, communication monitoring, and others (text analytics, video analytics, audio analytics, image analytics, and digital assistance). The application segments are marketing analysis, predictive maintenance, supply chain management, quality management investigation and recommendation, safety and security management, diagnosis and treatment system, and others (automated customer services agent, autonomous governance, and real-time analysis). On the basis of deployment types, the cognitive services market has been divided into cloud and on-premises deployments. On the basis of end-users, the enterprise cognitive services market has been divided into SMEs and large enterprises. On the basis of verticals, cognitive services market has been segmented into BFSI, healthcare, retail, IT and Telecommunications, government and education, manufacturing, and others (travel and tourism, aerospace and defense, and oil and gas), Finally, on the basis of regions, the cognitive services market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
The report will help the market leaders and new entrants in the cognitive services market in the following ways:
1. The report segments the market into various subsegments; hence, it covers the market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across various verticals and regions.
2. The report helps in understanding the overall growth of the market. It provides information on the key market drivers, restraints, challenges, and opportunities.
3. The report helps in understanding the competitors better and gaining more insights to strengthen their position in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.

TABLE OF CONTENTS

1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 MARKET SCOPE 18
1.4 YEARS CONSIDERED FOR THE STUDY 19
1.5 CURRENCY 19
1.6 STAKEHOLDERS 19
2 RESEARCH METHODOLOGY 20
2.1 RESEARCH DATA 20
2.1.1 SECONDARY DATA 21
2.1.2 PRIMARY DATA 21
2.1.2.1 Breakdown of primaries 21
2.1.2.2 Key industry insights 22
2.2 MARKET SIZE ESTIMATION 23
2.2.1 BOTTOM-UP APPROACH 24
2.2.2 TOP-DOWN APPROACH 24
2.3 RESEARCH ASSUMPTIONS 25
2.4 LIMITATIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 30
4.1 ATTRACTIVE OPPORTUNITIES IN THE COGNITIVE SERVICES MARKET 30
4.2 COGNITIVE SERVICES MARKET: TOP 3 VERTICALS 31
4.3 COGNITIVE SERVICES MARKET, TOP 3 APPLICATIONS AND REGIONS 31
4.4 MARKET INVESTMENT SCENARIO 32
5 MARKET OVERVIEW AND INDUSTRY TRENDS 33
5.1 MARKET DYNAMICS 33
5.1.1 DRIVERS 34
5.1.1.1 Help with aligning organizational core work with business objectives 34
5.1.1.2 Growth in data volumes creating demand for cognitive services 34
5.1.2 RESTRAINTS 34
5.1.2.1 Stringent external regulations across regions 34
5.1.3 OPPORTUNITIES 35
5.1.3.1 Growing use of cognitive services across various industry verticals 35
5.1.3.2 Increasing demand for intelligent APIs to build smarter applications 35

5.1.4 CHALLENGES 35
5.1.4.1 Lack of awareness across the industry 35
5.1.4.2 Lack of knowledge about data 36
5.2 COGNITIVE SERVICES MARKET: USE CASES 36
5.2.1 INTRODUCTION 36
5.2.1.1 Use case: Scenario 1 36
5.2.1.2 Use case: Scenario 2 36
5.2.1.3 Use case: Scenario 3 37
5.2.1.4 Use case: Scenario 4 37
5.2.1.5 Use case: Scenario 5 37
6 COGNITIVE SERVICES MARKET, BY TECHNOLOGY 38
6.1 INTRODUCTION 39
6.2 MACHINE LEARNING AND DEEP LEARNING 40
6.2.1 FACIAL RECOGNITION 40
6.2.2 EMOTION DETECTION 40
6.3 NATURAL LANGUAGE PROCESSING 41
7 COGNITIVE SERVICES MARKET, BY SERVICE TYPE 42
7.1 INTRODUCTION 43
7.2 CLOUD AND WEB-BASED APPLICATION PROGRAMMING INTERFACE 44
7.3 DATA TRANSFORMATION 44
7.4 KNOWLEDGE MANAGEMENT 45
7.5 DATA INTEGRATION AND COGNITIVE AUTOMATION 46
7.6 COGNITIVE RISK INTELLIGENCE 46
7.7 CONSULTING AND ADVISORY 47
7.8 TRAINING AND SUPPORT 48
7.9 COMMUNICATION MONITORING 48
7.10 OTHERS 49
8 COGNITIVE SERVICES MARKET, BY DEPLOYMENT MODE 50
8.1 INTRODUCTION 51
8.2 CLOUD 51
8.3 ON-PREMISES 52
9 COGNITIVE SERVICES MARKET, BY APPLICATION 53
9.1 INTRODUCTION 54
9.2 MARKETING ANALYSIS 55
9.3 PREDICTIVE MAINTENANCE 55
9.4 SUPPLY CHAIN MANAGEMENT 56
9.5 QUALITY MANAGEMENT INVESTIGATION AND RECOMMENDATION 57
9.6 SAFETY AND SECURITY MANAGEMENT 57
9.7 DIAGNOSIS AND TREATMENT SYSTEM 58
9.8 OTHERS 59
10 COGNITIVE SERVICES MARKET, BY END-USER 60
10.1 INTRODUCTION 61
10.2 SMALL AND MEDIUM-SIZED ENTERPRISES 61
10.3 LARGE ENTERPRISES 62
11 COGNITIVE SERVICES MARKET, BY VERTICAL 63
11.1 INTRODUCTION 64
11.2 BANKING, FINANCIAL SERVICES, AND INSURANCE 65
11.3 HEALTHCARE 65
11.4 RETAIL 66
11.5 IT AND TELECOMMUNICATION 67
11.6 GOVERNMENT AND EDUCATION 67
11.7 MANUFACTURING 68
11.8 OTHERS 69
12 COGNITIVE SERVICES MARKET, BY REGION 70
12.1 INTRODUCTION 71
12.2 NORTH AMERICA 73
12.2.1 UNITED STATES 74
12.2.2 CANADA 75
12.3 EUROPE 78
12.3.1 UNITED KINGDOM 78
12.3.2 GERMANY 79
12.3.3 FRANCE 79
12.3.4 REST OF EUROPE 79
12.4 ASIA PACIFIC 82
12.4.1 CHINA 83
12.4.2 JAPAN 83
12.4.3 INDIA 83
12.4.4 REST OF ASIA PACIFIC 83
12.5 REST OF THE WORLD 86
12.5.1 UNITED ARAB EMIRATES 86
12.5.2 BRAZIL 86
12.5.3 MEXICO 87
12.5.4 REST OF THE ROW 87

13 COMPETITIVE LANDSCAPE 91
13.1 OVERVIEW 91
13.2 COMPETITIVE SCENARIO 92
13.2.1 NEW PRODUCT/SERVICE LAUNCHES AND ENHANCEMENTS 92
13.2.2 PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS 93
13.2.3 MERGERS AND ACQUISITIONS 95
13.2.4 BUSINESS EXPANSIONS 95
14 COMPANY PROFILES 96
(Business overview, Services offered, Recent Developments, SWOT analysis, MNM view)*
14.1 INTRODUCTION 96
14.2 IBM 97
14.3 MICROSOFT 100
14.4 GOOGLE 104
14.5 AWS 107
14.6 BAIDU 110
14.7 NUANCE COMMUNICATIONS 112
14.8 QUALCOMM TECHNOLOGIES 115
14.9 SAS 117
14.10 APPLE 120
14.11 TCS 122
14.12 NOKIA 124
14.13 EXPERT SYSTEM 126
14.14 VERBIO TECHNOLOGIES 128
14.15 SOFTWEB SOLUTIONS 129
14.16 FOLIO3 SOFTWARE 130
14.17 FUSION INFORMATICS 131
14.18 INBENTA 132
14.19 COGNITIVESCALE 133
14.20 IPSOFT 134
14.21 BMC SOFTWARE 135
14.22 ATTIVIO 136
14.23 MEGVII 137
14.24 KAIROS 138
14.25 SQUIRRO 139
14.26 CLARIFAI 140
*Details on Business overview, Services offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.

15 APPENDIX 141
15.1 INSIGHTS OF INDUSTRY EXPERTS 141
15.2 DISCUSSION GUIDE 142
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 147
15.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 149
15.5 AVAILABLE CUSTOMIZATION 150
15.6 RELATED REPORTS 150
15.7 AUTHOR DETAILS 151

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