Cognitive Media Market Growing at High CAGR by 2023

(IT-NEWSWIRE.COM, April 30, 2019 ) According to report "Cognitive Media Market by Technology (Deep Learning & Machine Learning, NLP), Application (Content Management, Network Optimization, Predictive Analysis), Component (Solutions, Services), Deployment, Enterprise Size, and Region - Global Forecast to 2023", the global cognitive media market size to grow from USD 551.4 million in 2018 to USD 1,839.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 27.2%

The increasing adoption of the cognitive computing technology for various applications in the media industry and demand for automated workflows in content creation and distribution are major growth drivers for the global cognitive media market.

The objective of the report is to define, describe, and forecast the size of the cognitive media market by technology, application, component, enterprise size, deployment mode, and region. The report also aims at providing detailed information about the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market.

The major vendors in the global cognitive media include:

• Microsoft (US)

• Google (US)

• AWS (US)

• Adobe (US)

• IBM (US)

• nVIDIA (US)

• Salesforce (US)

• Baidu (China)

• Crimson Hexagon (US)

• Veritone (US)

• Bytedance (China)

• Acrolinx (Germany) and many more.

Media enterprises use the content management application for analyzing past and current consumer behaviour and identify their preferences to deliver personalized experience to the customers. The cognitive computing technology also enables publishers or media agencies to automate their workflows and gain insights in the content creation. It also helps media companies in improving the customer retention.

North America is expected to hold the largest market size in the global cognitive media market, while APAC to grow at the highest CAGR during the forecast period. As there have been increased investments in the North American cognitive media market, the region will record considerable growth during the forecast period. APAC will provide lucrative market opportunities for the market players. The automation of content delivery process to improve efficiency and minimize cost could drive the adoption of cognitive media solutions.

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Cognitive Media Market Growing at High CAGR by 2023