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Cognitive Services Market

Global Cognitive Services Market Share, Size, Growth: By Deployment: Cloud, On-Premises; By Technology: Machine and Deep Learning, Natural Language Processing; By Enterprise Size: Small and Medium Enterprises, Large Enterprises; By End User: BFSI, IT and Telecommunication, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Cognitive Services Market Outlook

The global cognitive services market size reached a value of approximately USD 16.63 billion in 2023. The market is expected to grow at a CAGR of 40.9% between 2024 and 2032, reaching a value of USD 363.91 billion by 2032.

 

cognitive services market

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Key Trends in the Market

Cognitive services use APIs, algorithms, and software to enhance the capabilities of artificial intelligence (AI), solve AI-related problems, and help data scientists and developers in accessing artificial intelligence easily. They enable the building of solutions that have the capability of seeing, hearing, understanding, speaking, and even making decisions, and can be incorporated into a wide range of industries and applications.

 

  • Cognitive services can aid in preventing network attacks by learning from external and internal sources of enterprise environments. They can provide insights from large volumes of unstructured and structured data which further helps enterprises analyse vulnerabilities and threats across operations.
  • Increasing number of businesses are taking help of the cognitive services to achieve their goals as cognitive services reduce the efforts required on repetitive tasks and deliver better products and services. This, in turn, is boosting the adoption of cognitive services and supporting the cognitive services market growth.
  • Rising demand of cognitive services from various verticals such as healthcare, finance, retail, and education, owing to the advantages they offer, is a major cognitive services market trend as these services support speech recognition, machine learning, and text recognition technologies, among others.

 

Cognitive Services Market Analysis

Based on deployment, the market is bifurcated into cloud and on-premises. On the basis of technology, the market is divided into machine and deep learning and natural language processing. By enterprise size, the market is categorised into small and medium enterprises, and large enterprises. On the basis of end user, the market is segmented into BFSI, IT and telecommunication, retail, and healthcare, among others. Based on region, the market is segregated into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

cognitive services market by segments

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global cognitive services market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Microsoft Corporation
  • Google LLC
  • Amazon Web Services, Inc
  • Nokia Corporation
  • IBM Corporation
  • Attivio, Inc
  • SAS Institute Inc
  • Enterra Solutions, LLC
  • Infosys Limited
  • Cisco Systems, Inc.
  • Others

 

Global Cognitive Services Market Share by End User

IT and telecommunication is expected to hold a large share of the market for cognitive services based on end user over the forecast period. IT companies commonly deploy software and hardware solutions supporting cognitive services and develop advanced machine learning algorithms used for analysing massive volumes of data to gain important insights. Furthermore, IT and telecommunication, with the help of cognitive services, are able to optimise operations, gain competitive edge, improve customer engagement, and develop network infrastructure.

 

Global Cognitive Services Market Share by Region

Regionally, North America accounts for a sizable share of the market for cognitive services due to significant investments in technology in the region and increasing adoption rate of cloud-based services. IoT enabled technologies and smart devices are gaining popularity across the region and people are adapting machine learning and natural language processing technologies at a faster rate, increasing the demand for cognitive services.

 

cognitive services market by region

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Competitive Landscape

Microsoft Corporation, founded in 1975 with headquarters in Washington, United States, is a multinational technology company that offers leading software products including Internet Explorer, the Windows line of operating systems, Edge web browsers, and Microsoft Office suite, among others.

 

Google LLC is a technology company which was established in 1998 and has its headquarters in California, United States. They focus on search engine technology, computer software, consumer electronics, online advertising, cloud computing, quantum computing, and artificial intelligence.

 

Amazon Web Services, Inc was started in 2006 is based out of Washington in the United States. It is an IT service management company that provides its consumers with reliable, highly scalable object storage, and secure and durable services.

 

Other market players include Nokia Corporation, IBM Corporation, Attivio, Inc, SAS Institute Inc, Enterra Solutions, LLC, Infosys Limited, and Cisco Systems, Inc., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Deployment
  • Technology
  • Enterprise Size
  • End User
  • Region
Breakup by Deployment
  • Cloud
  • On-Premises
Breakup by Technology
  • Machine and Deep Learning
  • Natural Language Processing
Breakup by Enterprise Size
  • Small and Medium Enterprises
  • Large Enterprises
Breakup by End User
  • BFSI
  • IT and Telecommunication
  • Retail
  • Healthcare
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Microsoft Corporation
  • Google LLC
  • Amazon Web Services, Inc
  • Nokia Corporation
  • IBM Corporation
  • Attivio, Inc
  • SAS Institute Inc
  • Enterra Solutions, LLC
  • Infosys Limited
  • Cisco Systems, Inc.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Cognitive Service Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Cognitive Service Historical Market (2018-2023) 
    8.3    Global Cognitive Service Market Forecast (2024-2032)
    8.4    Global Cognitive Service Market by Deployment
        8.4.1    Cloud
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    On-Premises
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Cognitive Service Market by Technology
        8.5.1    Machine and Deep Learning
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Natural Language Processing
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Cognitive Service Market by Enterprise Size
        8.6.1    Small and Medium Enterprises
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Large Enterprises
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Cognitive Service Market by End User
        8.7.1    BFSI
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    IT and Telecommunication
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Retail
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Healthcare
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Others
    8.8    Global Cognitive Service Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Cognitive Service Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Cognitive Service Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Cognitive Service Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Cognitive Service Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Cognitive Service Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis  
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Microsoft Corporation
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Google LLC
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Amazon Web Services, Inc
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Nokia Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    IBM Corporation
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Attivio, Inc
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    SAS Institute Inc
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Enterra Solutions, LLC
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Infosys Limited
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Cisco Systems, Inc.
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others  
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Cognitive Service Market: Key Industry Highlights, 2018 and 2032 
2.    Global Cognitive Service Historical Market: Breakup by Deployment (USD Million), 2018-2023
3.    Global Cognitive Service Market Forecast: Breakup by Deployment (USD Million), 2024-2032
4.    Global Cognitive Service Historical Market: Breakup by Technology (USD Million), 2018-2023
5.    Global Cognitive Service Market Forecast: Breakup by Technology (USD Million), 2024-2032
6.    Global Cognitive Service Historical Market: Breakup by Enterprise Size (USD Million), 2018-2023
7.    Global Cognitive Service Market Forecast: Breakup by Enterprise Size (USD Million), 2024-2032
8.    Global Cognitive Service Historical Market: Breakup by End User (USD Million), 2018-2023
9.    Global Cognitive Service Market Forecast: Breakup by End User (USD Million), 2024-2032
10.    Global Cognitive Service Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Cognitive Service Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Cognitive Service Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Cognitive Service Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Cognitive Service Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Cognitive Service Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Cognitive Service Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Cognitive Service Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Cognitive Service Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Cognitive Service Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Cognitive Service Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Cognitive Service Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Cognitive Service Market Structure

Key Questions Answered in the Report

The global market for cognitive services reached a value of around USD 16.63 billion in 2023.

The market is expected to grow at a CAGR of 40.9% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 363.91 billion by 2032.

Increasing demand for natural language processing, and growing concern over data privacy and security are the major market drivers.

The key trends of the market are increasing demand for prevention of network attacks, rising adoption by businesses to reach their goals, and growing demand from various verticals owing to advantages of cognitive services.

The primary technologies of cognitive services are machine and deep learning and natural language processing.

The major enterprise sizes for cognitive services are small and medium enterprises, and large enterprises.

The key players in the cognitive services market are Microsoft Corporation, Google LLC, Amazon Web Services, Inc, Nokia Corporation, IBM Corporation, Attivio, Inc, SAS Institute Inc, Enterra Solutions, LLC, Infosys Limited, and Cisco Systems, Inc., among others.

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