The global cognitive media market is anticipated to grow at a significant CAGR during the forecast period. The major factor for the growth of the market is the increasing adoption of cognitive computing technology for various applications in the media industry. Additionally, the demand for automated workflows in content creation and distribution is also driving the growth of the market.
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Moreover, it is difficult to classify unstructured sound-visual information in the media market, compelling media buyers to integrate AI technology with the content supply chain. Furthermore, tagging content manually is time-consuming and expensive, and as such media professionals are adopting AI-based solutions to improve content efficiency. Furthermore, the increasing demand for quality content to engage the customers is driving the demand for AI-based technology in media, which, in turn, is driving the demand for cognitive computing and thus propelling the market.
Some major players in the market include Microsoft Inc., Google LLC., and IBM Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in September 2020, Microsoft announced updates to Azure Cognitive Services and Azure Machine Learning aimed at streamlining business processes during the COVID-19 pandemic at its Ignite 2020 conference.
Global Cognitive Media Market Report by Segment
By Technology
- Deep Learning and Machine Learning
- Natural Language Processing
By Application
- Content Management
- Network Optimization
- Recommendation and Personalization
- Customer Retention
- Predictive Analysis
- Security Management
- Others
By Component
- Solutions
- Services
By Enterprise Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
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Company Profiles
- Microsoft Inc.
- Google LLC
- IBM Corp
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