Cognitive Media Global Market Report 2024

The cognitive media market has grown exponentially in recent years. It will grow from $1.73 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 26.1%. The expansion observed in the historical period can be attributed to several factors. These include the heightened complexity within media ecosystems, a rising demand for personalized user experiences, the implementation of content monetization strategies, and the integration of natural language processing (NLP) to address the challenge of information overload.

The cognitive media market is expected to see exponential growth in the next few years. It will grow to $5.55 billion in 2028 at a compound annual growth rate (CAGR) of 26.2%. The anticipated growth in the forecast period can be ascribed to various factors, including the integration of augmented and virtual reality (AR/VR), the adoption of blockchain for content verification, the evolution of advertising models, and advancements in cross-platform content delivery. Key trends expected during this period encompass personalized content experiences, the incorporation of emotion and sentiment analysis, automated content creation, as well as interactive and immersive experiences. Additionally, real-time content adaptation is poised to be a significant trend shaping the landscape.

The cognitive media market is anticipated to experience growth, propelled by the increasing number of internet users. The surge in internet users is attributed to the rapid expansion of digital services and the growing dependence on technology in daily life, making internet access a necessity. The transformative impact of this exponential growth in internet users has reshaped the media consumption landscape, ushering in the era of cognitive media designed to actively engage the audience's cognitive abilities. As of 2022, the International Telecommunication Union reported an estimated 5.3 billion internet users, constituting 66% of the global population. This marked a growth rate of 6.1% from the previous year, underscoring the significance of the rising number of internet users in driving the cognitive media market.

The cognitive media market is poised for growth due to the escalating demand for artificial intelligence (AI) technologies across various applications. The application of AI technologies encompasses areas such as decision management, AI-optimized hardware, robotic process automation, and natural language processing. Cognitive computing, representing AI systems that emulate human cognition, is increasingly utilized for real-time analysis of the real-world environment, context, intent, and other variables crucial for problem-solving. Notably, the IBM Global AI Adoption Index 2022 revealed a substantial increase in the global adoption rate of AI, reaching 35%, up four points from the previous year. The survey of 7,502 businesses worldwide indicated a growing trend, with 13% more firms projected to adopt AI in 2022 compared to 2021. This surge in demand for AI technologies across diverse applications is a key driver fueling the growth of the cognitive media market.

Technological advancement emerges as a prominent trend shaping the cognitive media market, with major companies strategically focusing on innovation to maintain their market standing. An illustrative example is Juji Inc., a US-based artificial intelligence company specializing in chatbot and empathetic AI solutions. In March 2023, Juji Inc. introduced a cutting-edge generative AI tool designed to automate the creation of cognitive AI chatbots. This tool empowers organizations to swiftly develop customized AI chatbots without the need for additional IT resources or coding. These cognitively intelligent AI chatbots have the capability to augment human teams, automating high-touch, high-stakes interactions by leveraging superior human interpersonal skills, including active listening and comprehension of body language.

Major players in the cognitive media market are actively engaging in strategic partnerships to redefine the viewer experience, enhancing engagement and satisfaction. Partnerships enable companies to harness their collective strengths and resources, facilitating the development of advanced solutions for the media and entertainment industry. In September 2023, Vionlabs, a Sweden-based provider of cognitive AI technology, partnered with Innotech Corporation, a Japan-based technology solutions provider, to deliver innovative solutions to Hulu Japan. As part of this collaboration, Vionlabs' AI-powered video-to-metadata discovery and personalization platform, Fingerprint+, will be seamlessly integrated into Hulu Japan's video streaming service. Vionlabs' cognitive AI, AINAR, utilizes advanced algorithms and machine learning to extract relevant metadata, comprehending the emotional impact of content.

In September 2021, Digilant Inc., a US-based advertising services company, made a strategic acquisition by purchasing Happyfication for an undisclosed amount from its holding company, ISPD. This collaboration aims to enhance Digilant's innovative omnichannel marketing strategy by combining Digilant's strengths with Happyfication's end-to-end media competencies. Happyfication, a US-based cognitive marketing technology company, brings valuable capabilities to improve insights, multichannel targeting, and data analysis, aligning with Digilant's objectives and contributing to the evolution of their marketing capabilities.

Major companies operating in the cognitive media market report are International Business Machines Corporation, Google LLC, Amazon Web Services Inc., Microsoft Corporation, Salesforce.com Inc., Adobe Inc., Baidu Inc., Nvidia Corporation, Veritone Inc., Albert Inc., Crimson Hexagon, Valossa Labs Oy, SoundHound AI Inc., Newsrx, ByteDance Ltd., Kenshoo Inc., Zeta Global Holdings Corp., Kitewheel LLC, Clarifai Inc., Spotad Ltd., Accenture plc, Alteryx, Cisco Systems Inc., Cornerstone OnDemand Inc., Brandwatch, Video Intelligence AG, OpenText, SAS Institute Inc., Hewlett Packard Enterprise Company LP, Pegasystems Inc., BMC Software Inc.

North America was the largest region in the cognitive media market in 2023. The regions covered in the cognitive media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cognitive media market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key elements of cognitive media revolve around services and solutions. Cognitive media services involve cloud-based systems that empower users to develop media-centric approaches, such as OTT content creation or live streaming. These services play crucial roles in content protection, insights extraction, and video encoding. Leveraging technologies such as natural language processing, deep learning, and machine learning, these services can be deployed both on-premises and in the cloud. They find applications in predictive analysis, security management, content management, network optimization, recommendation and personalization, customer retention, and other diverse areas. These technologies cater to various industries, including banking, retail, healthcare, and more.

The cognitive media market research report provides cognitive media market statistics, including the cognitive media industry global market size, regional shares, competitors with a cognitive media market share, detailed cognitive media market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive media industry. This cognitive media market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cognitive media market consists of revenues earned by entities by providing cognitive media services such as deployment and integration, training, and consulting. The market value includes the value of related goods sold by the service provider or included within the service offering. The cognitive media market also includes sales of central processing unit, scanners, and video display unit. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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