Global Cognitive Media Solutions Market
Global Cognitive Media Solutions Market: About this market
Technavio’s cognitive media solutions market analysis considers the demand from both SMEs and large enterprises. Our report also provides a detailed analysis of the market in APAC, Europe, MEA, North America, and South America. In 2018, the SMEs segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising popularity of platform-as-a-service (PaaS) and the integration of multi-factor authentication with AI for payment will play a significant role for the SMEs segment to maintain its market position. Also, our global cognitive media solutions market report looks at factors such as digital transformation, increasing adoption of technologically advanced mobile devices, and growing demand for data integration and visual analytics. However, system integration and interoperability issues, lack of skilled workforce for developing AI algorithms, and concerns related to privacy and security may hamper the growth of the cognitive media solutions industry over the forecast period.
Global Cognitive Media Solutions Market: Overview
Growing demand for data integration and visual analytics
The exponential increase in data volume has created the need for analyzing, monitoring, transforming, and interpreting data. AI-powered cognitive media solutions facilitate real-time data analysis which help enterprises in effective decision-making, understanding business processes, and bridging the gap between IT and businesses. This has induced enterprises to adopt various data integration solutions to simplify their data analysis process. This demand boosts the popularity of cognitive media solutions among end-users, fueling the expansion of the global cognitive media solutions market at a CAGR of over 27% during the forecast period.
Introduction of next-generation networks
Technological innovations and increasing digitalization have revolutionized the telecommunication network sector. Innovations such as the shift from circuit-based switched telecommunication networks to packet-based networks using Internet Protocol (IP) have enabled the development of next-generation networks. Cognitive media solutions and devices support these developments in the communication industry by providing new platforms and architecture for network optimization. These developments are expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global cognitive media solutions market during the forecast period 2019-2023, click here.
With the presence of several major players, the global cognitive media solutions market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cognitive media solutions market vendors, that include Adobe Inc., Alphabet Inc., Amazon.com Inc., Baidu Inc., Brandwatch (Runtime Collective Ltd.), IBM Corp., Microsoft Corp., NVIDIA Corp., Salesforce.com Inc., and Veritone Inc.
Also, the cognitive media solutions market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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