The Global Cognitive Media Market is forecast to reach USD 3.31 Billion by 2026, according to a new report by Reports and Data. Cognitive media includes the usage of cognitive computing technologies for the media and entertainment enterprise. As consumers proceed to spend more time watching videos on their tablets, smartphones, and other internet and mobile-connected devices, media, and entertainment companies continue to invest more time, money, and effort in executing the viewing experience more meaningful, embellished and personalized. Thus, the utilization of cognitive solutions has become a part of the digital transformation procedure with a focus on the latest technologies, including Artificial Intelligence (AI) and analytical data. Media agencies are using certain technologies in order to create, program, personalize content, manage promotion inventory management, and augment staff productivity.
This report covers the recent COVID-19 incidence and its impact on Cognitive Media Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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Key participants are Microsoft, Google, AWS, Adobe, IBM, nVIDIA, Salesforce, Baidu, Crimson Hexagon, and Veritone, among others.
As the media and entertainment industry continuously advances to meet the demands of consumers and their viewing experience, cognitive computing is generating new opportunities for the media and entertainment enterprises. Cognitive computing solutions have a golden window to unleash a new age of innovation and growth for media and advertising corporations. This will help media and entertainment companies recognize their audiences better, streamline their marketing ventures, and improve customer co-operation.
The region of Asia Pacific is shifting towards the young population, and the focus of this population is on the technological field. The innovations and the growths are directly related to the developing fields of data management. The fastest growth is observed in this region, owing to the ever-increasing media and IT industries flourishing in India and China.
For the purpose of this report, Reports and Data have segmented into the global Cognitive Media Market on the basis of technology type, component type, deployment type, application type, end-users, and region:
Technology Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• Deep Learning
• Machine Learning
• NLP
Component Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• Solutions
• Services
Deployment Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• Cloud
• On-Premise
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• Content Management
• Network Optimization
• Recommendation and Personalization
• Customer Retention
• Predictive Analysis
• Security Management
• Others
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End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• BFSI
• Telecom, Media and IT
• Manufacturing
• Government and Legal Services
• Healthcare and Pharmaceuticals
• Textile
• Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
Further key findings from the report suggest
• Machine Learning segment is set to experience the highest CAGR of 26.1% during the forecast period. Machine learning is the application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from previous choices without being explicitly programmed. This help vastly in cognitive media propagation.
• On-Premise solutions had held a large market share of 53.8% in the year 2018. This is because of the underdeveloped status of cloud deployment. On-premise solutions are costlier, but with time, the market size of this segment shall reduce.
• Telecom, Media, and IT segment is set to experience the highest CAGR of 26.3% during the forecast period. This is because of the drive for supplying personalized content.
• Asia Pacific is expected to expand at the highest CAGR of 26.8% during the forecast period. The automation of content delivery procedures to improve efficiency and decrease cost would drive the adoption of cognitive media services.
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