Global Cognitive Media Market Size By Technology (Deep Learning And Machine Learning, Natural Language Processing), By Application (Content Management, Network Optimization), By Geographic Scope And Forecast

Cognitive Media Market Size And Forecast

Cognitive Media Market size was valued at USD 1,005.83 Million in 2022 and is projected to reach USD 6,841.17 Million by 2030, growing at a CAGR of 23.49% from 2023 to 2030.

The increasing demand for improved content creation is the crucial aspect of the rise in the market revenue of Cognitive Media as well as automation of workflow in the media sector with the help of cognitive computing will foster market growth. The Global Cognitive Media Market report provides a holistic evaluation of the market. The report offera s comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Cognitive Media Market Definition

Cognitive media includes the usage of cognitive computing technologies for the media and entertainment industry. As consumers proceed to spend more time watching videos on their tablets, smartphones, and other internet and mobile-connected devices, media and entertainment agencies continue to invest more time, money, and effort in making the viewing experience more significant, enhanced and personalized. Therefore, the adoption of cognitive solutions has become a part of the digital transformation strategy with a focus on the latest technologies including Artificial Intelligence (AI) and analytics. Media agencies are utilizing these technologies to create, program, personalize content, manage advertising inventory management, and intensify staff productivity.

As the media and entertainment industry continuously emerges to meet the demands of consumers and their viewing experience, cognitive computing is generating new opportunities for the media and entertainment industry. Cognitive computing solutions have an opportunity to unleash a new age of innovation and extension for media and advertising companies. This will encourage media and entertainment companies to understand their audiences better, streamline their marketing activities, and enhance customer service.

Global Cognitive Media Market Overview

The cloud deployment of cognitive solutions is expected to grow significantly during the projection period. This growth can be principally credited to the high infrastructure expenses compared to the traditional solutions, henceforth, utmost of media companies today are adopting cloud-based solutions owing to their flexibility and improved security. Online media content consumption has shown enormous growth over the past few years. There has been an increasing demand for mobile devices as the preferred medium of consuming media online.

Moreover, according to the Cisco VNI report, 80% of internet traffic is being produced from the video-streaming segment. Furthermore, there is a growing demand for online media content as related to that past trends. This hike in usage is essentially owing to the growth in user-centric streaming content rendered by the media vendors, which is based on past user preference, which is assisting them to generate content according to the relevant genre. This assists a lot of content owners to resolve the difficulty of delivering content over the web.

However, owing to the lack of funds for the basic requirements of IT infrastructures in developing countries, deploying cognitive computing tools is entirely dependent on the available IT infrastructures, data, and the Internet of Things (IoT) devices, which assist capture instances to generate accurate results. Technological developments, cloud infrastructures, big data, and organized data filing play an essential role in the successful usage of cognitive computing technology in the media sector.

Global Cognitive Media Market: Segmentation Analysis

The Global Cognitive Media Market is segmented on the basis of Technology, Application, And Geography.

Cognitive Media Market, By Technology

• Deep Learning And Machine Learning
• Natural Language Processing

Based on Technology, the market is bifurcated into Deep Learning And Machine Learning and Natural Language Processing. The media enterprises employ machine learning and deep learning technology for content management and rendering an immersive customer experience.

Cognitive Media Market, By Application

• Content Management
• Network Optimization
• Predictive Analysis
• Security Management
• Others

Based on Application, the market is bifurcated into Content Management, Network Optimization, Predictive Analysis, Security Management, and Others. The content management application is assumed to hold the largest market size in the Global Cognitive Media Market application during the estimated period. Several media firms are adopting AI technology for the content management application for intensified customization and personalization driving customer engagement.

Cognitive Media Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Geography, The Global Cognitive Media Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region is anticipated to hold a major share in the market as the media enterprises in the region are utilizing AI technologies for multiple applications, such as personalization, content management, and recommendation, among others.

Key Players

The "Global Cognitive Media Market" study report will provide valuable insight with an emphasis on the global market including some of the major players such as Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Adobe Inc., IBM Corporation, Nvidia Corporation, Salesforce, Baidu, Inc., Crimson Hexagon, Veritone, Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2018, Baidu announced its strategic partnership with Skyworth, China's leading manufacturer of household appliances. This partnership will allow for the power of the AI company.
• In December 2017, Baidu partnered with Xiaomi, China's largest smartphone manufacturer, to invest in AI-powered technology. This partnership will enable the company to grow its ecosystem in AI.
• In July 2017, Baidu acquired Kitt.ai, an NLP company, to make its AI operating DuerOS fully compatible with IoT.
• In May 2018, Google upgraded its powerful AI News AI application, designed using machine learning technology. It helps to find relevant stories based on students' reading habits.
• In May 2018, Google upgraded its AI-enabled voice assistant, called Google Assistant, which is available on all Google products, such as Google Maps, Google News, and Gmail. The discussion assistant helps to understand many questions and provides appropriate answers to the questions.