Cognitive Services Platform Market Share


The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cognitive Services Platform Market Share. The growth sectors of the Cognitive Services Platform Market Share are identified with precision for a better growth perspective.

In this rapidly changing world of technology, cognitive services platform market is projected to show major growth prospects during the forecast period. Major factor driving the cognitive services platform market is the increasing adoption of artificial intelligence and growing data generation which needs real time analysis. Analyzing consumer behaviors with cognitive analytics helps in tracking the behavior patterns of consumers and can enable target advertising. This will eventually help in driving the cognitive services platform market.

The global cognitive services platform market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the cognitive services platform market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of cognitive services platform market. This is owing to the presence of large number of established key players like IBM Corporation and Microsoft Corporation and also upcoming companies in cognitive services platform like CognitiveScale in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. This is expected to be a major factor for the growth of cognitive services platform market. Growing adoption of artificial intelligence and internet of things in corporate, retail and healthcare sector is another major factor driving the growth of cognitive services platform market in the region. Increasing adoption by small and medium businesses could be a major factor driving the growth of cognitive services platform market in the region.

Cognitive Services Platform Market Segmentation

The cognitive services platform market has been segmented on the basis of service, end user and vertical. The end user segment is further bifurcated into small and medium businesses and large enterprises. Cognitive services platform is increasingly being adopted by many small and large enterprises today owing to its efficiency in providing real time analysis of massive and diversified data. Cognitive services platform helps in building of cognitive applications which in turn helps these organizations in proper data interpretation and in driving the return on investment factor.

The prominent players in the 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.

Market Research Analysis:

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 technical advancements and increasing popularity of artificial intelligence across various industry verticals in that region.

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Cognitive Services Platform Market Research Report Forecast 2023 | MRFR
Cognitive Services Platform market is expected to witness significant growth and hold the largest…

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