Cognitive Media Market Size (2024 - 2029)

The Cognitive Media Market is experiencing significant growth due to the transformation of the media industry, driven by the need to adapt to a fragmented consumer base and evolving customer preferences. Media companies are increasingly adopting cognitive computing solutions to enhance content delivery and visibility across distribution channels. This shift is further accelerated by the rising demand for customized content, particularly in the wake of increased media consumption during global lockdowns. The market's expansion is fueled by the competitive landscape among media and internet video providers, prompting them to enhance their capabilities through cognitive solutions.

Market Size of Cognitive Media Industry

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cognitive media market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 22.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

cognitive solution market

*Disclaimer: Major Players sorted in no particular order

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Cognitive Media Market Analysis

The Cognitive Media Market is expected to register a CAGR of 22% during the forecast period (2021 - 2026). With the increasing differentiated consumer base, the media companies today are uniquely challenged and are dropping the traditional business models. With the proliferation of new distribution channels and the increasing need to create new content, the media companies are using cognitive computing solutions in order to match the content with an increasingly fragmented customer base.

  • Moreover, the media industry is witnessing a major transformation primarily owing to a series of revolutionary changes. This has led to an increase in the adoption of cognitive solutions in order to address the lack of visibility of the end-to-end workflow system and the changing customer preference across content consumption. These factors have also motivated media companies to digitize their media supply chain.
  • Modern streaming content providers such as Netflix are constantly releasing new content, much more than the customers can keep up with. As a result, one of their biggest challenges is making sure that the users know about the new programs that might interest them. The company is using AI technologies to face these challenges and has helped it to increase its user base. At the end of 2019, the company had a subscriber base of 167.1 million. as compared to a customer base of 139.26 million at the end of 2018.
  • The rapidly increasing customer expectations and the evolving competition among the media and internet video providers are currently shaping the media and entertainment industry landscape. In order to combat these competitiveness and increasing challenges in the industry, multiple companies are improving their capabilities by adopting cognitive solutions.
  • With the recent outbreak of coronavirus, it has forced nationwide lockdowns in many countries across the globe. This has primarily led to the people increasing their media consumption. The cognitive solutions are expected to witness increased demand from content providers in order to provide more customized content and retain their customers.

Cognitive Media Industry Segmentation

Media content providers across the globe are primarily using cognitive services in order to recommend and provide hyper-personalized content to all their viewers which are based on the data that is collected from the user's activity and behavior. Cognitive computing technologies primarily include a set of Artificial Intelligence (AI) technologies such as deep learning, machine learning among others.

By Component
Solutions
Services
By Deployment
Cloud
On-Premise
Geography
North America
Europe
Asia Pacific
Latin America
Middle-East & Africa
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Cognitive Media Market Size Summary

The Cognitive Media Market is undergoing a significant transformation as media companies shift away from traditional business models to embrace cognitive computing solutions. This shift is driven by the need to cater to a differentiated and fragmented consumer base, necessitating the creation of new content and the utilization of new distribution channels. The adoption of cognitive solutions is helping media companies address challenges such as the lack of visibility in end-to-end workflow systems and evolving customer preferences in content consumption. The COVID-19 pandemic has further accelerated the demand for cognitive solutions, as increased media consumption during lockdowns has prompted content providers to offer more personalized and engaging content to retain their audiences.

The market is characterized by rapid growth, particularly in cloud-based cognitive solutions, which offer flexibility and enhanced security compared to traditional infrastructure. The surge in online media content consumption, driven by the popularity of mobile devices and video streaming, has led to a competitive landscape with major players like Netflix, Amazon, Hulu, and YouTube expanding their subscriber bases. North America holds a significant share of the market, with companies leveraging AI technologies for personalization and content management. The market is highly competitive, with both small and large players employing strategies such as product innovation and mergers to expand their reach and enhance product functionality. Key players include IBM Corporation, Google LLC, Amazon Web Services, and Microsoft Corporation, among others.

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Cognitive Media Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Workflow Automation in the Media Sector

      2. 1.2.2 Rising Demand for Improved Content Creation

    3. 1.3 Market Restraints

      1. 1.3.1 Slow Digitalization Rate in the Emerging Economies

    4. 1.4 Porters 5 Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Component

      1. 2.1.1 Solutions

      2. 2.1.2 Services

    2. 2.2 By Deployment

      1. 2.2.1 Cloud

      2. 2.2.2 On-Premise

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle-East & Africa

Cognitive Media Market Size FAQs

The Cognitive Media Market is projected to register a CAGR of 22% during the forecast period (2024-2029)

IBM Corporation, Google LLC, Amazon Web Services, Microsoft Corporation and Salesforce.com, inc. are the major companies operating in the Cognitive Media Market.

Cognitive Media Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)