The global demand for Cognitive Search Service Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Cognitive Search Service is the latest trend in enterprise search which utilises the technology of artificial intelligence to improve users' search experience and returns back relevant information from tremendously large and diverse data sets. This is a new trend because it uses AI, natural language processing (NLP) capabilities and algorithms to extract data from relevant sources. It has a great influence on knowledge discovery & productivity since it enables the extraction of increasingly relevant and complete results based on the query using AI algorithms. It can be used for customer service applications as well and help resolve problems efficiently.
The market for cognitive search service is expected to grow due to its several benefits like increased productivity, improved search experience and lower operational costs in businesses adopting the same. The use of web-based applications along various sectors like IT, finance, telemetry, education will boost the growth of this service market. Increased technological innovations in the area of AI and ML and increased awareness of these technologies will further boost the market growth. This service has seen tremendous growth due to COVID-19 since the global population is largely dependent on web-based services due to the lockdown. The major constraint of this market like any other web-based application market is the reduced efficiency of the software due to power outage, cyber-attacks and virus attacks.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of cognitive search service.
The entire cognitive search service market has been sub-categorized into type and applications. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
This section covers regional segmentation which accentuates on current and future demand for cognitive search service market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Cognitive Search Service Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the cognitive search service market include Attivio, Micro Focus, IBM, Squirro, PerkinElmer, Sinequa, BA Insight, BMC Software. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.