What Has Been the Progress and Growth of the Cognitive Media Market in Recent Years?
The cognitive media market has seen considerable growth due to a variety of factors.
•The scale of the cognitive media market has undergone massive expansion in the recent past. The market, which is projected to rise from $2.14 billion in 2024 to $2.67 billion in 2025, is expected to experience a compound annual growth rate (CAGR) of 24.8%.
The augmented complexity in media ecosystems, the need for individualized user experiences, strategies for content monetization, the incorporation of natural language processing (NLP), and the necessity to manage information overload have all contributed to historical growth.
What Can Be Expected from the Cognitive Media Market in the Coming Years?
The cognitive media market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the cognitive media market is anticipated to experience massive expansion in the coming years, attaining a value of "$7.2 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 28.1%.
This surge in growth projecting to the forecast period is due to factors like the integration of augmented and virtual reality (AR/VR), the use of blockchain for content authentication, innovative advertising models, and content delivery across different platforms. Prominent patterns for this forecast period are individualized content experiences, analysis of emotion and sentiment, automation in content production, interactive and fully immersive experiences, and adapting content in real-time.
What Are the Critical Driver Fuelling the Cognitive Media Market's Growth?
The growth trajectory of the cognitive media market is anticipated to be influenced by the increasing number of internet users. The rapid expansion of digital services and technology reliance in numerous facets of everyday life has resulted in a swift increase of internet users, making internet access a must-have for many people. The ever-growing number of internet users has dramatically altered the media consumption panorama, leading to the emergence of cognitive media, a concept designed to actively engage the cognitive skills of the audience. More specifically, data from the US-based government agency National Telecommunications and Information Administration reported that in June 2024, 83% of individuals aged 3 and above in the United States used the Internet, a rise from 80% in 2021, implying an addition of 13 million new internet users over the span of two years. Therefore, the surge in the number of Internet users is serving as a propellent for the growth of the cognitive media market.
How Is the Cognitive Media Market segmented?
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
Subsegments:
1) By Services: Consulting Services, Implementation Services, Support And Maintenance Services
2) By Solution: Content Creation And Management Solutions, Audience Engagement Solutions, Analytics And Insights Solutions
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What New Trends Are Influencing the Cognitive Media Market?
A noteworthy trend gaining traction in the cognitive media market is technological advancement. To maintain their market dominance, major companies involved in the cognitive media market are emphasizing on technological progression. To illustrate, Juji Inc., an American AI firm specializing in the development of empathetic AI solutions and chatbots, introduced a novel generative AI tool in March 2023. This tool facilitates the automated creation of cognitive AI chatbots, enabling any organization to swiftly produce tailor-made AI chatbots without the need for additional IT resources or coding. The cognitively intelligent AI chatbots are capable of magnifying the capabilities of human teams by managing and automating critical interactions with the use of advanced interpersonal abilities, such as comprehending body language and active listening.
Who Are the Key Players in the Cognitive Media Market?
Major companies operating in the cognitive media market include:
• 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.
• Accenture plc
• Alteryx
• Cisco Systems Inc.
• Brandwatch
• Video Intelligence AG
• OpenText
• SAS Institute Inc.
• Hewlett Packard Enterprise Company LP
• Pegasystems Inc.
What Is The Most Dominant Region In The Cognitive Media Market?
North America was the largest region in the cognitive media market in 2024. The regions covered in the cognitive media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
