Cognitive Services Platform Market, By Service (Continuous Compliance, Autonomous Governance, Self Service & Automated Provisioning), By End User (SMEs, Large Enterprises) and By Vertical - Forecast 2027
ID: MRFR/ICT/2972-HCR | February 2021 | Region: Global | 100 pages
Market Synopsis of Cognitive Services Platform Market:
Market Scenario:
Major giants like IBM Corporation and Microsoft Corporation are investing into cognitive services platform market owing to the increasing demand from various industry verticals like healthcare, retail, corporate, government among others. Increasing adoption of internet of things and artificial intelligence is one major factor fueling the growth of cognitive services platform market. IBM has built a cognitive services platform in order to transform business processes and operations. Cognitive services platform is built on IBM’s cloud which augments artificial intelligence and human intelligence in order to provide better customer service experience. This IBMs cognitive services platform is an IBM Watson based services platform which will enable in predicting problems and help in making faster data driven decisions.
North America region holds the largest market share of global cognitive services platform market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for internet of things and growing demand for services platform platforms for building and managing applications in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies.
Cognitive services platform market has been segmented on the basis of technology, end user and vertical. The vertical segment is further bifurcated into BFSI, healthcare, consumer electronics & retail, education & retail, IT & telecommunication, travel & tourism, aerospace & defense, oil & gas and others. Out of which retail and healthcare verticals are expected to grow at a significant rate during the forecast period. Cognitive services platforms are making work easier by automating the mundane regular tasks. This helps in increasing overall productivity of the organization.
Major factor driving the growth of cognitive services platform market is the increasing popularity of artificial intelligence and growing implementation of the same across various industry verticals. Increasing demand for real time data analysis is another factor driving the growth of cognitive services platform market. Artificial intelligence has become an integral component of the internet of things devices. Cognitive services platform provides a data driven platform which operates on data exploration and by making use of machine learning techniques. This helps in providing a level of intelligence to the products of cognitive services.
Key Players:
The prominent players in cognitive services platform market are – IBM Corporation (U.S.), Tata Consultancy Services Limited (India), Infosys Limited (India), Wipro Limited (India), Google, Inc. (U.S.), Microsoft Corporation (U.S.), General Electric (U.S.), Attivio (U.S.), Enterra Solutions LLC (U.S.), Numenta (U.S.) and others.
Segments:
Cognitive Services Platform market can be segmented on the basis of following:
By Service
- Continuous Compliance
- Autonomous Governance
- Self Service & Automated Provisioning
- Customer Support
- Knowledge Management
- Communication Monitoring
- Others
By End User
- SMEs
- Large Enterprises
By Vertical
- BFSI
- Healthcare
- Consumer Electronics & Retail
- Education & Retail
- IT & Telecommunication
- Travel & Tourism
- Aerospace & Defense
- Oil & Gas
- Others
Regional Analysis:
The regional analysis of cognitive services platform market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in cognitive services platform market in North America is attributed to technological advancements and increasing popularity of artificial intelligence in that region.
Intended Audience
- Technology Investors
- Research/Consultancy Firms
- Infrastructure Providers
- OEM technology solution providers
- Services Platform Solution Provider
- System Integrators
- Technology Providers
- External Service Providers (ESPs)
- Corporate Sector
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2027: Significant Value |
| CAGR | Substantial CAGR |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Service, By Vertical |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | IBM Corporation (U.S.), Tata Consultancy Services Limited (India), Infosys Limited (India), Wipro Limited (India), Google, Inc. (U.S.), Microsoft Corporation (U.S.), General Electric (U.S.), Attivio (U.S.), Enterra Solutions LLC (U.S.), Numenta (U.S.) |
| Key Market Opportunities | The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for internet of things and growing demand for services platform platforms for building and managing applications in the region. |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
Tech giants like Microsoft Corporation and IBM Corporation are making substantial investments in the market, on account of the mounting demand from several industry verticals such as retail, healthcare, government, corporate, among others.
IBM developed a cognitive services platform that helps transform business operations as well as processes. Cognitive services platform has been built backed by IBM’s cloud, which enhances human intelligence and artificial intelligence to offer elevated customer service experience.
Google, Inc. (U.S.), Infosys Limited (India), Wipro Limited (India), Numenta (U.S.), IBM Corporation (U.S.), General Electric (U.S.), Enterra Solutions LLC (U.S.), Tata Consultancy Services Limited (India), Attivio (U.S.), Microsoft Corporation (U.S.), are the most renowned companies in the worldwide market.
North America is expected to perform the best in the coming years.
Cognitive services platform is a big hit among small and large enterprises, given its efficiency in offering real time analysis of diversified and massive data.
TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH TYPE
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
3 MARKET DYNAMICS
3.1 INTRODUCTION
3.2 MARKET DRIVERS
3.3 MARKET CHALLENGES
3.4 MARKET OPPORTUNITIES
3.5 MARKET RESTRAINTS
4 EXECUTIVE SUMMARY
5. MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES ANALYSIS
5.2 SUPPLY CHAIN ANALYSIS
6 COGNITIVE SERVICES PLATFORM MARKET, BY SEGMENTS
6.1 INTRODUCTION
6.2 MARKET STATISTICS
6.2.1 BY SERVICE
6.2.1.1 CONTINUOUS COMPLIANCE
6.2.1.2 AUTONOMOUS GOVERNANCE
6.2.1.3 SELF SERVICE & AUTOMATED PROVISIONING
6.2.1.4 CUSTOMER SUPPORT
6.2.1.5 KNOWLEDGE MANAGEMENT
6.2.1.6 COMMUNICATION MONITORING
6.2.1.7 OTHERS
6.2.2 BY END USER
6.2.2.1 SMES
6.2.2.2 LARGE ENTERPRISES
6.2.3 BY VERTICAL
6.2.3.1 BFSI
6.2.3.2 HEALTHCARE
6.2.3.3 CONSUMER ELECTRONICS & RETAIL
6.2.3.4 EDUCATION & RETAIL
6.2.3.5 IT & TELECOMMUNICATION
6.23.6 TRAVEL & TOURISM
6.2.3.7 AEROSPACE & DEFENSE
6.2.3.8 OIL & GAS
6.2.3.9 OTHERS
6.2.4 BY REGION
6.2.4.1 NORTH AMERICA
6.2.4.2 EUROPE
6.2.4.3 ASIA-PACIFIC
6.2.4.4 REST OF THE WORLD
7 COMPETITIVE ANALYSIS
7.1 MARKET SHARE ANALYSIS
7.2 COMPANY PROFILES
7.2.1 IBM CORPORATION (U.S.)
7.2.2 TATA CONSULTANCY SERVICES LIMITED (INDIA)
7.2.3 INFOSYS LIMITED (INDIA)
7.2.4 WIPRO LIMITED (INDIA)
7.2.5 GOOGLE, INC. (U.S.)
7.2.6 MICROSOFT CORPORATION (U.S.)
7.2.7 GENERAL ELECTRIC (U.S.)
7.2.8 ATTIVIO (U.S.)
7.2.9 ENTERRA SOLUTIONS LLC (U.S.)
7.2.10 NUMENTA (U.S.)
7.2.11 OTHERS
LIST OF TABLES
TABLE 1 COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 2 COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 3 COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 4 COGNITIVE SERVICES PLATFORM MARKET, BY REGIONS
TABLE 5 NORTH AMERICA COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 6 NORTH AMERICA COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 7 NORTH AMERICA COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 8 U.S. COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 9 U.S. COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 10 U.S. COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 11 CANADA COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 12 CANADA COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 13 CANADA COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 14 GERMANY COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 15 GERMANY COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 16 GERMANY COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 17 U.K. COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 18 U.K. COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 19 U.K. COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 20 EUROPE COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 21 EUROPE COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 22 EUROPE COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 23 FRANCE COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 24 FRANCE COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 25 FRANCE COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 26 ASIA-PACIFIC COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 27 ASIA-PACIFIC COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 28 ASIA-PACIFIC COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
TABLE 29 REST OF THE WORLD COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE
TABLE 30 REST OF THE WORLD COGNITIVE SERVICES PLATFORM MARKET, BY END USER
TABLE 31 REST OF THE WORLD COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE (%)
FIGURE 3 COGNITIVE SERVICES PLATFORM MARKET, BY END USER (%)
FIGURE 4 COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL (%)
FIGURE 5 COGNITIVE SERVICES PLATFORM MARKET, BY REGIONS (%)
FIGURE 6 NORTH AMERICA COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE (%)
FIGURE 7 NORTH AMERICA COGNITIVE SERVICES PLATFORM MARKET, BY END USER (%)
FIGURE 8 NORTH AMERICA COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL (%)
FIGURE 9 EUROPE COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE (%)
FIGURE 10 EUROPE COGNITIVE SERVICES PLATFORM MARKET, BY END USER (%)
FIGURE 11 EUROPE COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL (%)
FIGURE 12 ASIA-PACIFIC COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE (%)
FIGURE 13 ASIA-PACIFIC COGNITIVE SERVICES PLATFORM MARKET, BY END USER (%)
FIGURE 14 ASIA-PACIFIC COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL (%)
FIGURE 15 REST OF THE WORLD COGNITIVE SERVICES PLATFORM MARKET, BY SERVICE (%)
FIGURE 16 REST OF THE WORLD COGNITIVE SERVICES PLATFORM MARKET, BY END USER (%)
FIGURE 17 REST OF THE WORLD COGNITIVE SERVICES PLATFORM MARKET, BY VERTICAL (%)