Dublin, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The "Cognitive Media Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Cognitive Media Market is expected to register a CAGR of 22% during the forecast period (2020 - 2025). 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.
Key Market Trends
Cloud Deployment is Expected to Witness Significant Growth
The cloud deployment of cognitive solutions is anticipated to significant growth during the forecast period. This growth can be primarily attributed to the high infrastructure costs related to the traditional solutions, hence, most of the media companies today are adopting cloud-based solutions owing to their flexibility and for enhanced security.
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The online media content consumption has shown tremendous growth over the past few years. There has been a surging demand for mobile devices as the preferred medium of consuming media online. Also, according to the Cisco VNI report, 80% of internet traffic is being generated from the video-streaming segment.
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Moreover, there is a surging demand for online media content as compared to that of past trends. This spike in the usage is primarily owing to the growth in user-centric streaming content provided by the media vendors, which is based on past user preference, which is helping them to create content according to the relevant genre. This helps a lot of content owners to solve the challenge of delivering content over the web.
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While the video-content streaming is dominated by Netflix, whereas emerging services from existing vendors such as Amazon, Hulu, HBO Now, and YouTube are all growing their subscriber base across the developing economies. With a significant number of players entering the market, the companies are offering differentiating factors in order to take a competitive advantage in the marketplace.
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For instance, in Nov 2019, Amazon Prime Video, along with Critical Role, today announced the service will be the exclusive streaming home for the upcoming animated series Critical Role: The Legend of Vox Machina, based on the adventures and characters of Critical Role, a leading story-driven and world-building digital media brand.
North America is Expected to Hold Significant Market Share
The North American region is expected to hold a major share in the market as the media enterprises in the region are using the AI technologies for multiple applications, such as personalization, content management, recommendation, among others. Another noticeable trend in the market is the aggressive mining of user data. This collected data is primarily being used to serve customers by helping them in finding content that would appeal to them.
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The online platform in the region is also expanding at a very fast pace with the inclusion of new innovative technologies that are primarily meant to enhance personalized user experiences. Major players operating in the broadcast and digital media sectors in this region are increasingly adopting new technologies and generating new content in order to increase their revenue in their online platforms that offer hours of media-related content, such as music and films.
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The region is also home to most of the major online media providers such as Netflix, Inc., Amazon, Inc., Hulu LLC among others which has led to an increased market competition, with the major players fighting vigorously in terms of number of subscriptions and the variety of content.
Competitive Landscape
The Cognitive Media Market is highly competitive owing to the presence of multiple small and large players operating in domestic and international markets. The market appears to be moderately concentrated with the major players in the market adopting key strategies such as product innovation, mergers, and acquisitions in order to widen the product functionality and expand their geographic reach. Some of the major players in the market are IBM Corporation, Google LLC, Amazon Web Services, Microsoft Corporation, among others.
May 2020 - C More company in Finland adopted the advanced video AI from Valossa to serve their customers better and make the content attractive to audiences at a glance. With the help of Valossa's Auto preview, the company deployed a rapid and automated way to add video promotions to their platform. The added short video clips are helping the company to create excitement for customers in choosing the content they plan to watch next.
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Jun 2020 - Veritone's fully-owned subsidiary Veritone One, one of the prominent performance influencer and audio advertising agency, announced that Purple has selected the company as the agency of record for audio advertising. The company will leverage Veritone's proprietary AI technology for real-time ad campaign tracking and advanced performance reporting.
Reasons to Purchase this report:
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Workflow Automation in the Media Sector
4.2.2 Rising Demand for Improved Content Creation
4.3 Market Restraints
4.3.1 Slow Digitalization Rate in the Emerging Economies
4.4 Porters 5 Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 TECHNOLOGY SNAPSHOT
5.1 By Application
5.1.1 Content Management
5.1.2 Recommendation and Personalization
5.1.3 Predictive Analysis
5.1.4 Network Optimization
6 MARKET SEGMENTATION
6.1 By Component
6.1.1 Solutions
6.1.2 Services
6.2 By Deployment
6.2.1 Cloud
6.2.2 On-Premise
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle-East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 Google LLC
7.1.3 Amazon Web Services
7.1.4 Microsoft Corporation
7.1.5 Salesforce.com, Inc.
7.1.6 Adobe Inc.
7.1.7 Nvidia Corporation
7.1.8 Veritone Inc.
7.1.9 Albert.ai
7.1.10 Brandwatch
7.1.11 Valossa Labs Ltd.
7.1.12 Video Intelligence AG
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/91q4p5
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